Climate-Controlled Flex
For Sale
$325,000
2751 Halls Mill Road, Mobile, AL 36606
Commercial Sale, Mobile, AL
Property Size3,100 SF
Lot Size0.72 Acres
Price / SF$101.56
Days on Market47
Property Features for 2751 Halls Mill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Parking
15
Parking features
Parking Lot
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Fencing
Chain Link
Accessibility
Accessible Approach with Ramp
Lot features
Business Park
View
City
Standard status
Active
APN
2909510011187
Size
3,200 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
2300
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile - Ceramic, Carpet, Laminate
Building materials
Brick
Roof type
Metal
Additional Structures
Other
Listing Agency:
Roberts Brothers West · Berkshire Hathaway HomeServices
(251) 661-4660
Listed By:
Shajeariann Brandon
(251) 513-3775
Added: Jul 27
Changed: Sep 5
Last Checked: Sep 11 at 7:06AM
MLS# 7811210
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 climate-controlled flex property combines office and warehouse areas within a commercial building designed for varied operational needs. Interior features include a reception area, restrooms, ceramic tile, carpet, laminate flooring, and ceilings measuring 10 feet or greater. Central heating and central air support year-round use, while a roll-up overhead door and covered loading/work area accommodate movement of materials and equipment.
The chain-link-fenced site provides approximately 152 feet of frontage on Halls Mill Road, with a parking lot and accessible approach ramp. B-2 zoning supports a range of commercial applications, subject to verification of the intended use. Public water and public sewer serve the property. The location offers access to Interstate 10, Interstate 65, downtown Mobile, and surrounding commercial and industrial corridors.
The chain-link-fenced site provides approximately 152 feet of frontage on Halls Mill Road, with a parking lot and accessible approach ramp. B-2 zoning supports a range of commercial applications, subject to verification of the intended use. Public water and public sewer serve the property. The location offers access to Interstate 10, Interstate 65, downtown Mobile, and surrounding commercial and industrial corridors.
Key Highlights
- B‑2 zoning with office and warehouse configuration
- Approximately 152 feet of frontage on Halls Mill Road
- Climate‑controlled building with central heating and central air
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
$18,252
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
5.62%
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%
$365,040
$365.0K
Cap Rate 7%
$260,743
$260.7K
Cap Rate 9%
$202,800
$202.8K
Market Conditions
NOI Build-Up for 3,200 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
$23.0K $7.20/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$21.5K $6.71/SF
− OpEx
−$3.2K −$1.01/SF
NOI
$18.3K $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%
$365,040
Cap Rate 7%
$260,743
Cap Rate 9%
$202,800
Alternative Uses
Best Use
Warehouse
$260.7K
$228.2K – $304.2K
NOI $18,252 @ 7.0% cap · market cap 5.62%
Second Best
Flex RnD
$229.6K
$200.9K – $267.9K
NOI $16,074 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$813.3K
$711.7K – $948.9K
NOI $56,933 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable office and warehouse space with a fenced lot, loading area, and direct access to major Mobile transportation routes.
Where is this flex space located?
The property is located at 2751 Halls Mill Road Mobile, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: B‑2 zoning with office and warehouse configuration; Approximately 152 feet of frontage on Halls Mill Road; Climate‑controlled building with central heating and central air
