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    Retail Center on Red Light Corner Title is generated by Realmo AI

    2912 Dauphin Island Parkway, Mobile, AL 36605

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    Claim this Listing
    For Sale
    $1,465,000

    Strip center with anchor tenant and small shops for sale.

    Type:Commercial/Industrial
    Property size:
    27,000 SF
    Price / SF:
    $54/SF
    Added:
    May 5, 2025
    Days on Market:
    396
    Last Refresh:
    Apr 7 at 8:30 pm

    Property Features for 2912 Dauphin Island Parkway

    General Information

    Standard status
    Active
    Size
    27,000 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Ronald Wallace

    Listing agent Ronald Wallace

    Listing office Roberts Brothers, Inc Malbis

    Listing date May 5, 2025

    Source Exitrealty

    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 Roberts Brothers, Inc Malbis

    HighLights

    • High‑traffic location: Red light corner at Gulf Dale Dr and Dauphin Island Pkwy.
    • Anchor tenant: Includes a 15,000 sq ft anchor tenant space.
    • Established tenants: Includes Walgreen's pharmacy with a drive‑thru.
    • Value: Priced at less than $54 per sq ft.
    • Sizeable leasable area: Over 27,000 sq ft of leasable space.
    • Multiple Parcels: Consists of two parcels of land.

    Overview

    This strip center is located on a red light corner at Gulf Dale Dr and Dauphin Island Pkwy, approximately 2 miles south of I-10, providing convenient access to Mobile, AL, and the surrounding area. The property features over 27,000 sq ft of leasable space, including a 15,000 sq ft anchor tenant space and an additional 12,000 sq ft of leasable space occupied by small shops and a Wal Greens pharmacy with an end cap drive thru. The property consists of two parcels. One parcel's legal description is: BEG AT SW COR OF PCL B GULF DALE SUB MBK 11\/30 RUN NLY ALG W\/L OF SD PAR B 337.05 FT TH N 86 DEG 20 MIN 26 SEC E ALGN\/L OF SD PAR B 328 FT TO W\/L OF DIP TH SLY ALG W\/L OF DIP 330.55 FT TH WLY & PAR TO GULF DALE DR 130 FT TH SLY & PAR TO DIP PKWY 110 FTTH WLY ALG N R\/W\/L OF GULF DALE DR 181.24 FT TO POB #SEC 40 T5S R1W #MP32 06 40 0 002. The second parcel is located at the corner nearest to the red light with Key # 1744438 and Parcel #32 06 40 0 002 010.02X. This property presents an opportunity for various business uses.
    Location Intelligence

    Current Use by Public Records

    Dotch's Barber & Style ... Barber Shop Nails By Ivy Nail Salon Walgreens Pharmacy Pharmacy Natalie R. Dailey ... Pharmacy C & T Package ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.074419
    Latitude
    30.6125554

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    FAQs

    What type of property is this?
    Shopping center - Strip center with anchor tenant and small shops for sale.
    Where is this shopping center located?
    The property is located at 2912 Dauphin Island Parkway Mobile, AL.
    What is the asking price?
    The asking price for this property is $1,465,000.
    What are key features of this property?
    This property features: High‑traffic location: Red light corner at Gulf Dale Dr and Dauphin Island Pkwy.; Anchor tenant: Includes a 15,000 sq ft anchor tenant space.; Established tenants: Includes Walgreen's pharmacy with a drive‑thru.
    (251) 454-2798
    We can help!
    Listing Contact
    Ronald Wallace
    Learn More
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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.

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