Mixed-Use Property with Storage
For Sale
$385,000
1475 Mckinnell Road, Mobile, AL 36695
Office space, equipment storage, and an on-site home create a flexible live-work configuration.
Property Size1,950 SF
Price / SF$197.44
Days on Market67
Property Features for 1475 Mckinnell Road
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Mixed Use
Amenities
Central Air
3
Parking.
5 Parking Spaces. Lot.
Other
5641x130x375x86x208x215
Out Building. Asphalt, City Road.
Building Details
Stories
1
Listing Agency:
Roberts Brothers DI Branch
(251) 367-2334
Listed By:
Wendy Dickerson · License #76192
(251) 367-2334
Source:
Xome
Added: Jun 26
Changed: Aug 30
Last Checked: Aug 30 at 3:39PM
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 DI Branch
Investment Insights
Based on property information with market context.
This mixed-use property combines a small office, an extensive outdoor storage area, and a separate home on the same site. The office includes three private offices, a full bathroom, an efficiency kitchen, and central air. Approximately 2 acres provide room for storing materials and equipment, while an outbuilding adds further utility.
The property is located on Mckinnell Road in Mobile, with an asphalt surface and access from a city road. Five parking spaces are available on site. The combination of office operations, outdoor storage, and an additional residence supports a range of commercial and live-work arrangements, subject to applicable zoning, deed restrictions, and local regulations.
The property is located on Mckinnell Road in Mobile, with an asphalt surface and access from a city road. Five parking spaces are available on site. The combination of office operations, outdoor storage, and an additional residence supports a range of commercial and live-work arrangements, subject to applicable zoning, deed restrictions, and local regulations.
Key Highlights
- Approximately 2 acres for storing materials and equipment
- Office includes 3 offices, a full bathroom, and an efficiency kitchen
- Separate home located on the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,110
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,200
$542.2K
Cap Rate 7%
$387,286
$387.3K
Cap Rate 9%
$301,222
$301.2K
Market Conditions
NOI Build-Up for 1,950 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.3K $22.20/SF
− Vacancy
−$7.1K −$3.66/SF
EGI
$36.1K $18.54/SF
− OpEx
−$9.0K −$4.63/SF
NOI
$27.1K $13.90/SF
Area
Mobile, AL
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,200
Cap Rate 7%
$387,286
Cap Rate 9%
$301,222
Alternative Uses
Best Use
Office B
$387.3K
$338.9K – $451.8K
NOI $27,110 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$370.7K
$324.4K – $432.5K
NOI $25,952 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$495.6K
$433.7K – $578.2K
NOI $34,694 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space, equipment storage, and an on-site home create a flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 1475 Mckinnell Road Mobile, AL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Approximately 2 acres for storing materials and equipment; Office includes 3 offices, a full bathroom, and an efficiency kitchen; Separate home located on the property
