Freestanding Brick Medical
For Sale
$899,900
1605 Hillcrest Road, Mobile, AL 36695
COMMERCIAL - Mobile, AL
Property Size5,056 SF
Lot Size0.83 Acres
Price / SF$166.37
Days on Market208
Property Features for 1605 Hillcrest Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Parking
45
Parking features
Parking Lot
Window features
Window Treatments
Interior features
High Ceilings 10 or Greater, Reception Area, Recessed Lighting, Restrooms
Accessibility
Accessible Approach with Ramp
Lot features
Corner Lot, Free Standing, Level
Standard status
Active
APN
2808332000003002
Size
5,409 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Annual Amount
10385
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
covered patient drop-off
freestanding signage
ADA-accessible entry
ADA-compliant restrooms
Building Details
Year built
1997
Floors in Building
2
Flooring type
Carpet
Building materials
Brick, Brick 4 Sides
Listing Agency:
Bellator Real Estate LLC Mobile
(251) 343-7777
Listed By:
Michele Finney
(251) 769-2888
Added: Jan 17
Changed: Aug 4
Last Checked: Aug 13 at 4:06AM
MLS# 7704967
Copyright © 2026 Mobile Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding medical office is built with brick on all four sides and dates to 1997. The purpose-built interior includes multiple exam and treatment rooms, reception and waiting areas, physicians’ offices, imaging and X-ray space, laboratory and sterilization areas, records and storage rooms, conference and staff areas, a break room, and ADA-compliant restrooms. Central heating and central air support the facility, while a newer roof, neutral finishes, and a covered patient drop-off entrance add practical functionality.
The property occupies an approximately 0.8308-acre corner lot at 1605 Hillcrest Road in Mobile, Alabama, with approximately 167 feet of frontage. Daily traffic is approximately 25,000-29,000 vehicles per day, and a full median cut provides northbound and southbound access. Exterior features include freestanding signage, an accessible approach with ramp, approximately 45 on-site parking spaces, public water, and public sewer. B-3 Community Business zoning supports the existing medical office configuration.
The property occupies an approximately 0.8308-acre corner lot at 1605 Hillcrest Road in Mobile, Alabama, with approximately 167 feet of frontage. Daily traffic is approximately 25,000-29,000 vehicles per day, and a full median cut provides northbound and southbound access. Exterior features include freestanding signage, an accessible approach with ramp, approximately 45 on-site parking spaces, public water, and public sewer. B-3 Community Business zoning supports the existing medical office configuration.
Key Highlights
- Approximately 0.8308‑acre corner lot at 1605 Hillcrest Road
- Approximately 167 feet of frontage on Hillcrest Road
- Daily traffic of approximately 25,000‑29,000 vehicles per day
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
$75,200
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
8.36%
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%
$1,504,000
$1.5M
Cap Rate 7%
$1,074,286
$1.1M
Cap Rate 9%
$835,556
$835.6K
Market Conditions
NOI Build-Up for 5,409 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
$120.1K $22.20/SF
− Vacancy
−$19.8K −$3.66/SF
EGI
$100.3K $18.54/SF
− OpEx
−$25.1K −$4.63/SF
NOI
$75.2K $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%
$1,504,000
Cap Rate 7%
$1,074,286
Cap Rate 9%
$835,556
Alternative Uses
Best Use
Office B
$1.07M
$940.0K – $1.25M
NOI $75,200 @ 7.0% cap · market cap 8.36%
Second Best
Healthcare Medical
$1.05M
$918.1K – $1.22M
NOI $73,450 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,235 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built healthcare facility with treatment rooms, ADA access, on-site parking, and B-3 Community Business zoning.
Where is this medical office space located?
The property is located at 1605 Hillcrest Road Mobile, AL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Approximately 0.8308‑acre corner lot at 1605 Hillcrest Road; Approximately 167 feet of frontage on Hillcrest Road; Daily traffic of approximately 25,000‑29,000 vehicles per day
