Corner Pharmacy Retail
For Sale
Contact for pricing
19390 Highway 43, Mount Vernon, AL 36560
Corner commercial building on Highway 43 and Mildred St, formerly operating as a pharmacy with flexible use potential.
Property Size2,027 SF
Price / SF$133.15
Days on Market314
Property Features for 19390 Highway 43
General Information
Standard status
Active
Size
2,027 SF
Property subtype
RETAIL
Listing Agency:
Realty Executives Bay Group
(251) 679-9998
Listed By:
James Henderson · License #91867-1
(251) 447-4848
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Sep 3
Last Checked: Sep 26 at 1:47PM
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 Realty Executives Bay Group
Investment Insights
Based on property information with market context.
This corner commercial building is offered for sale and has operated for many years as a family-owned pharmacy serving the North Mobile area. The property includes retail storefront space and is described as suitable for multiple uses, giving buyers flexibility in redevelopment or re-tenanting. All measurements are approximate and should be verified by the buyer and/or buyer’s agent.
The building is located on the corner of Highway 43 N and Mildred St., with frontage along both roads. The public remarks note high traffic on Highway 43 and Mildred St.
As a former pharmacy location, the asset offers a ready-made commercial retail layout for continued neighborhood-serving use, subject to buyer verification of fit and condition.
The building is located on the corner of Highway 43 N and Mildred St., with frontage along both roads. The public remarks note high traffic on Highway 43 and Mildred St.
As a former pharmacy location, the asset offers a ready-made commercial retail layout for continued neighborhood-serving use, subject to buyer verification of fit and condition.
Key Highlights
- Corner commercial building at Highway 43 N and Mildred St in Mt. Vernon
- Formerly operated as a pharmacy serving the North Mobile area
- Multiple‑use space—can be used for multiple business uses
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
$21,322
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
7.90%
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%
$426,440
$426.4K
Cap Rate 7%
$304,600
$304.6K
Cap Rate 9%
$236,911
$236.9K
Market Conditions
NOI Build-Up for 2,027 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
$30.4K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.4K $14.03/SF
− OpEx
−$7.1K −$3.51/SF
NOI
$21.3K $10.52/SF
Area
Mobile County, AL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$426,440
Cap Rate 7%
$304,600
Cap Rate 9%
$236,911
Alternative Uses
Best Use
Retail
$383.3K
$335.4K – $447.2K
NOI $26,830 @ 7.0% cap · market cap 9.94%
Second Best
Specialty Retail
$304.6K
$266.5K – $355.4K
NOI $21,322 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$499.4K
$437.0K – $582.7K
NOI $34,959 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36560, AL
3,418
Population
1,264
Households
2.7
Avg Household Size
42
Median Age
14%
College-Educated
74%
High-School Grad
60.2 sq mi
ZIP Area
57
Density / Sq Mi
$43,043
Median Household Income
$35,494
Median Earnings
$1,009
Median Rent
$111,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Lisa Young, PharmD — 725 Coy Smith Hwy, Mt Vernon, AL 36560
- Mt Vernon Pharmacy — 19390 US-43, Mt Vernon, AL 36560
Frequently Asked Questions
What type of property is this?
Drug store - Corner commercial building on Highway 43 and Mildred St, formerly operating as a pharmacy with flexible use potential.
Where is this drug store located?
The property is located at 19390 Highway 43 Mount Vernon, AL.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Corner commercial building at Highway 43 N and Mildred St in Mt. Vernon; Formerly operated as a pharmacy serving the North Mobile area; Multiple‑use space—can be used for multiple business uses
