Corner Strip
For Sale
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1218 Hillcrest Road, Mobile, AL 36695
Multi-unit retail property at Hillcrest Road and Grelot Road, surrounded by grocery, pharmacy, restaurant, and neighborhood shopping uses.
Property Size7,344 SF
Price / SF$204.25
Days on Market186
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Property Features for 1218 Hillcrest Road
General Information
Standard status
Active
Size
7,344 SF
Class
B
Property subtype
Retail
Zoning
COM
Occupancy
50%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$120,000
Building Details
Year Built
1998
Year Renovated
2025
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
FMIG
Listed By:
Faith Morgan · License #Alabama 000162267
(850) 889-2571
Source:
Crexi
Added: Apr 13
Changed: Oct 15
Last Checked: Oct 14 at 7:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FMIG
Investment Insights
Based on property information with market context.
This multi-unit retail property occupies a corner location at 1218 Hillcrest Road in Mobile, Alabama. The center contains units in varying sizes, supporting a range of retail applications without relying on a single standardized layout. Previous occupants have included a jewelry store, barber shop, and dance studios, reflecting the property’s history of accommodating different small-business formats.
The site is situated at the intersection of Hillcrest Road and Grelot Road within an established shopping area. The surrounding commercial mix includes grocery stores, pharmacies, restaurants, strip malls, and other small shops. Buyers should verify unit dimensions and square footage, as the available information does not represent those measurements as confirmed.
The site is situated at the intersection of Hillcrest Road and Grelot Road within an established shopping area. The surrounding commercial mix includes grocery stores, pharmacies, restaurants, strip malls, and other small shops. Buyers should verify unit dimensions and square footage, as the available information does not represent those measurements as confirmed.
Key Highlights
- Corner location at Hillcrest Road and Grelot Road in Mobile, AL 36695
- Multi‑unit strip mall with a variety of unit sizes
- Located near grocery stores, pharmacies, restaurants, and other neighborhood shops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,207
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,944,140
$1.9M
Cap Rate 7%
$1,388,671
$1.4M
Cap Rate 9%
$1,080,078
$1.1M
Market Conditions
NOI Build-Up for 7,344 SF
Gross rent
$145.4K $19.80/SF
− Vacancy
−$6.5K −$0.89/SF
EGI
$138.9K $18.91/SF
− OpEx
−$41.7K −$5.67/SF
NOI
$97.2K $13.24/SF
Area
Mobile, AL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,944,140
Cap Rate 7%
$1,388,671
Cap Rate 9%
$1,080,078
Alternative Uses
Best Use
Retail
$1.39M
$1.22M – $1.62M
NOI $97,207 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,662 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Explore this area
Business Placement
Demographics for 36695, AL
51,174
Population
21,269
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
1,122
Density / Sq Mi
$75,236
Median Household Income
$47,614
Median Earnings
$1,192
Median Rent
$234,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-unit retail property at Hillcrest Road and Grelot Road, surrounded by grocery, pharmacy, restaurant, and neighborhood shopping uses.
Where is this strip mall located?
The property is located at 1218 Hillcrest Road Mobile, AL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Corner location at Hillcrest Road and Grelot Road in Mobile, AL 36695; Multi‑unit strip mall with a variety of unit sizes; Located near grocery stores, pharmacies, restaurants, and other neighborhood shops
