Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Highway 90 Theodore, AL 36582

    View on Map
    Picture of Other land at Highway 90, Mobile, AL
    For Lease
    $50,000

    0.5 - 1.91 Acres Land For Lease - Highway 90 in Theodore Commercial Corner

    Added:
    Mar 25, 2025
    Days on Market:
    401
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for Highway 90

    General Information

    Standard status
    Active
    Property type
    Other land, Industrial land, Commercial land, Land
    Elevators
    N/A
    Lease Type
    NNN
    Rate Type
    Yearly

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Company

    Listing date Mar 25, 2025

    Overview

    Highway 90 Commercial Corner Lot

    Located at the northeast corner of Highway 90 and Old Rock Road in Theodore, Alabama, this commercial property offers a location suitable for various businesses. The site includes 0.5 to 1.91 acres of land, providing space for development. With approximately 280 feet of frontage on Highway 90, the property has visibility and accessibility. Zoned for commercial use, it is suitable for retail establishments, fast-food restaurants, car dealerships, or warehouse facilities. The lease terms are Net, Net, Net (NNN), with an annual rate of $50,000. The owner is open to leasing the entire parcel or portions thereof and will consider build-to-suit options for qualified tenants. The total usable square footage is 83,199 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Theodore
    County
    Mobile
    State
    Alabama
    Longitude
    -88.251652
    Latitude
    30.778621

    Nearby Similar for Lease

    • $6,000/Mo

      Modern Office and Warehouse Space

      Versatile Theodore, Alabama office and warehouse space for rent.
      5578 Sermon Road W, Theodore, AL 36582
      View Details
    • $11 SF/Yr

      Gated Flex Space Available

      Flex space in multi-tenant complex, conveniently located near I-10.
      6215 Rangeline Rd, Theodore, AL
      View Details
    • $8 SF/Yr

      Office/Warehouse Building Near I-10

      Office and warehouse space for lease near Tillman's Corner.
      5771 I 10 Industrial Pkwy N, Theodore, AL
      View Details
    • Contact for pricing

      Retail Space in Theodore, Alabama

      Retail spaces available with quick access to I-10.
      7371 Theodore Dawes Road, Theodore, AL 36582
      View Details
    • Contact for pricing

      Theodore Industrial Building For Lease

      32,000 SF industrial building available for lease.
      6450 Trippel Rd, Theodore, AL 36582
      View Details
    • $12 SF/Yr

      Retail Spaces on Old Pascagoula

      Three retail suites available for lease, can be combined.
      6105 Old Pascagoula Rd, Theodore, AL
      View Details
    • $14 SF/Yr

      Salon Space in Theodore, AL

      Turn-key salon space available for rent in Jackson Square.
      5879 Highway 90, Theodore, AL
      View Details
    • $6 SF/Yr

      Industrial Space in Mobile South

      Industrial complex offering spaces from 30,000 to 71,250 SF.
      5155 Mobile South St, Theodore, AL
      View Details
    • $42,857 SF/Yr

      Land Available For Lease

      Single tenant land for lease, approximately one acre.
      5840 Plantation Rd, Theodore, AL 36582
      View Details
    • Contact for pricing

      Class A Concrete Construction

      Tilt-Up concrete construction commercial property available for rent.
      6450 Trippel Rd, Theodore, AL 36582
      View Details
    • Contact for pricing

      Land Available For Lease

      Land available for lease in Theodore, Alabama.
      5580 Middle Rd, Theodore, AL 36582
      View Details
    • Contact for pricing

      Retail Space in Bellingrath Crossroads

      Retail or office space available in well-maintained Theodore center.
      6941 Bellingrath Rd, Theodore, AL 36582
      View Details

    FAQs

    What type of property is this?
    Land - 0.5 - 1.91 Acres Land For Lease - Highway 90 in Theodore Commercial Corner
    Where is this land located?
    The property is located at Highway 90 Theodore, AL.
    What is the lease rate?
    The lease rate is $50,000.
    (251) 476-6000
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!