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    720 Schillinger Rd S, Unit 1 Mobile, AL 36695

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    For Lease
    $22 SF/Yr ($1,833 /Mo)

    1,000 SF retail space in high-traffic shopping center.

    Property size:
    1,000 SF
    Lot size:
    1.94 Acres

    Property Features for 720 Schillinger Rd S

    General Information

    Size
    1,000 SF
    Lot size
    1.94 Acres

    We can help!

    Listing Contact
    Michael F Reid
    Source: Moodyscre

    Listing Agency: Merrill P. Thomas Co, Inc. Listing Agent: Michael F Reid

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space on Schillinger Road

    Located in West Mobile, this 1,000 SF retail space features an open floor plan and is situated in the Schillinger Station Shopping Center on Schillinger Road South. The location benefits from high visibility on one of Mobile's busiest commercial corridors. The property is positioned near a Walmart Supercenter, Home Depot, Kohl's, and Super Target, with Providence Hospital and Mobile Regional Airport located within minutes of the site. The location is suitable for national, regional, or local tenants. The shopping center has a total building area of 19,350 SF on a total land area of 84,600 SF. Existing tenants include AT&T, AAA of Alabama, Hollywood Nails, Master Cleaners, T&D Beauty Supply, Sushi 9, US Navy Recruiting, and Villa Del Rey Restaurant. The property has ample parking with 102 spaces, approximately 5.3 spaces per 1,000 SF. The location has high visibility with an average daily traffic count of 35,523 vehicles. A signalized intersection at Old Government Street provides ease of access. The property has pylon signage on the building and off-street. The property is zoned B - 3 and is professionally leased and managed.
    Location Intelligence

    Current Use by Public Records

    First Community Bank Bank Master Cleaners Dry Cleaner The First Bank Domke Market (Amici) Wine Store Smoothie King Lunch Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2249436
    Latitude
    30.705447

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    FAQs

    What type of property is this?
    Retail space - 1,000 SF retail space in high-traffic shopping center.
    Where is this retail space located?
    The property is located at 720 Schillinger Rd S, Unit 1 Mobile, AL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Prime location on high-traffic Schillinger Rd S with 35,523 average daily traffic count.; - High visibility end-cap unit in Schillinger Station Shopping Center.; - Surrounded by major national retailers (Walmart, Home Depot, Kohl's, Target).
    (251) 422-2208
    Request Owner's contact information
    720 Schillinger Rd S, Unit 1 Mobile, AL 36695
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    Mobile, AL 36695
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    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
    720 Schillinger Rd S, Unit 1 Mobile, AL 36695
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    We can help!
    Listing Contact
    Michael F Reid
    (251) 422-2208
    Learn more
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