2882 Mill St, Mobile, AL 36607

Building Details

Building Size 2,595 SF More

Year Built 1970 More

Units 1 More

Listing Agency: White-Spunner Realty

Listed By: Chris Harle · License AL #105180 Show Phone

Source: Commercialcafe

Added: Aug 9 Changed: Nov 1 Last Checked: Nov 12 at 4:40AM

Report an Issue

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 White-Spunner Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This flex space at 2882 Mill St combines refreshed office improvements with an open warehouse area. The office portion includes multiple private offices, a break room, and a restroom, while the warehouse provides clear open workspace for commercial use. Roll-up doors at both the front and rear support access through the building. A roof replacement completed in 2026 adds a recent building improvement. The property is located in Mobile, Alabama, within ZIP code 36607.

Key Highlights

• Flex space with office and warehouse components
• Updated office area with several offices, break room, and restroom
• Open warehouse with front and rear roll‑up doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,801

Cap Rate

5.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$296,020 $296.0K

Cap Rate 7%

$211,443 $211.4K

Cap Rate 9%

$164,456 $164.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,595 SF

Gross rent

$18.7K $7.20/SF

− Vacancy

−$1.3K −$0.49/SF

EGI

$17.4K $6.71/SF

− OpEx

−$2.6K −$1.01/SF

NOI

$14.8K $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 Rate 5%

$296,020

Cap Rate 7%

$211,443

Cap Rate 9%

$164,456

Alternative Uses

Best Use

Office B

$515.4K

$451.0K – $601.3K (±1% cap)

NOI $36,078 @ 7.0% cap · market cap 13.93%

Second Best

Warehouse

$211.4K

$185.0K – $246.7K (±1% cap)

NOI $14,801 @ 7.0% cap · market cap 5.71%

Theoretical Best

Office A

$659.6K

$577.1K – $769.5K (±1% cap)

NOI $46,169 @ 7.0% cap · market cap 17.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Ballard Sign & Advertising ... Electrical Service

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

539

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 36607, AL

6,264

Population

3,175

Households

2

Avg Household Size

44

Median Age

31%

College-Educated

87%

High-School Grad

3.0 sq mi

ZIP Area

2,088

Density / Sq Mi

$40,681

Median Household Income

$40,648

Median Earnings

$999

Median Rent

$125,000

Median Home Value

Market

Average Price Trend$/SF for Flex space in Mobile County, AL

$91.48 Jul

$84.33 Aug

$85.43 Sep

$75 Oct

Properties on Market for Flex space in Mobile County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Climate-Controlled Flex Building

2751 Halls Mill Road, Mobile, AL 36606

$325,000

3,200 SF

View details

Fenced Warehouse with Roll-Up Doors

801 Schillinger Road N, Mobile, AL 36608

$259,900

1,800 SF

View details

3,200 SF Small Warehouse For Sale/Lease

2756 Mauvilla Dr, Mobile, AL 36606

$199,500

3,200 SF

View details

Restaurant Building with Kitchen Equipment

3450 Demetropolis Road, Mobile, AL 36693

$140,000

2,275 SF

View details

Fenced Office/Warehouse Flex Building

2469 ESLAVA CREEK PKWY, Mobile, AL 36606

Contact for pricing

2,570 SF

View details

Office Warehouse Flex Building

7970 Tanner Williams Rd, Mobile, AL 36608

Contact for pricing

2,300 SF

View details

Fenced Warehouse with Roll-Up Door

807 Schillinger Road N, Mobile, AL 36608

$124,900

1,200 SF

View details

Four-Unit Office Building

4317 Midmost Dr, Mobile, AL 36609

$550,000

View details

Downtown Mobile Commercial Property

60 N Royal St, Mobile, AL

Contact for pricing

3,646 SF

View details

28,712 SF Navco Road Warehouses For Sale

1701 Navco Rd, Mobile, AL 36605

$445,000

28,712 SF

View details

Industrial Building on 0.81 Acres

2575 Halls Mill Road, Mobile, AL 36606

$77,500

0.81 Acres

View details

Downtown Mobile Office Space

549 Congress St, Mobile, AL 36603

Contact for pricing

1,024 SF

View details

Similar Off Market Nearby

• FitKits — 3309 old shell rd, mobile, al 36608
• Backyard Cafe — 3211 Moffett Rd, Mobile, AL 36607

Frequently Asked Questions

What type of property is this?

Flex space - Combined office and warehouse improvements support varied commercial operations in Mobile.

Where is this flex space located?

The property is located at 2882 Mill St Mobile, AL.

What is the asking price?

The asking price for this property is $259,000.

What are key features of this property?

This property features: Flex space with office and warehouse components; Updated office area with several offices, break room, and restroom; Open warehouse with front and rear roll‑up doors