Conditioned Manufacturing
For Sale
$5,975,000
21405 B Street, Mobile, AL 36606
Conditioned industrial space with rail access and excess land for storage or expansion.
Property Size88,638 SF
Price / SF$67.41
Days on Market124
Property Features for 21405 B Street
General Information
Standard status
Active
Size
88,638 SF
Property subtype
Industrial
Warehouse & Industrial
Rail Access
Yes
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Building Size
88,638 SF
Listing Agency:
Southeast Commercial of MS, LLC
(228) 276-2700
Listed By:
Monte Luffey · License #13267
(228) 276-2700
Source:
Lacdb.resimplifi
Added: Apr 29
Changed: Aug 29
Last Checked: Aug 29 at 8:22PM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This manufacturing property includes an 88,638-square-foot conditioned building designed for a range of industrial operations. The facility can support manufacturing, warehouse, and distribution functions, while additional land provides room for storage or future expansion.
Rail access adds an important transportation feature, and the property offers access to Interstate 10. The combination of enclosed industrial space, supplementary land, and multimodal connectivity supports users requiring substantial operating capacity and regional freight access.
Rail access adds an important transportation feature, and the property offers access to Interstate 10. The combination of enclosed industrial space, supplementary land, and multimodal connectivity supports users requiring substantial operating capacity and regional freight access.
Key Highlights
- 88,638 SF conditioned manufacturing building
- Additional land for storage or expansion
- Rail access supports freight movement
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
$505,577
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
8.46%
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%
$10,111,540
$10.1M
Cap Rate 7%
$7,222,529
$7.2M
Cap Rate 9%
$5,617,522
$5.6M
Market Conditions
NOI Build-Up for 88,638 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
$638.2K $7.20/SF
− Vacancy
−$43.4K −$0.49/SF
EGI
$594.8K $6.71/SF
− OpEx
−$89.2K −$1.01/SF
NOI
$505.6K $5.70/SF
Area
Mobile, AL
Vacancy
6.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$10,111,540
Cap Rate 7%
$7,222,529
Cap Rate 9%
$5,617,522
Alternative Uses
Best Use
Warehouse
$7.22M
$6.32M – $8.43M
NOI $505,577 @ 7.0% cap · market cap 8.46%
Second Best
Industrial
$5.95M
$5.20M – $6.94M
NOI $416,358 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$22.53M
$19.71M – $26.28M
NOI $1,577,019 @ 7.0% cap · market cap 26.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 36606, AL
19,042
Population
9,129
Households
2.1
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
6.8 sq mi
ZIP Area
2,800
Density / Sq Mi
$49,561
Median Household Income
$37,094
Median Earnings
$938
Median Rent
$141,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Conditioned industrial space with rail access and excess land for storage or expansion.
Where is this manufacturing property located?
The property is located at 21405 B Street Mobile, AL.
What is the asking price?
The asking price for this property is $5,975,000.
What are key features of this property?
This property features: 88,638 SF conditioned manufacturing building; Additional land for storage or expansion; Rail access supports freight movement
