Medical Office
For Sale
$748,000
3664 College Lane S, Mobile, AL 36608
Clinical rooms, a reception area, private office, and separate public and physician restrooms support medical use.
Property Size2,660 SF
Price / SF$281.20
Days on Market54
Property Features for 3664 College Lane S
General Information
Standard status
Active
Size
2,660 SF
Total Parking Spaces
14
Property subtype
Commercial
Zoning
B1
Taxes and HOA fees
Annual Taxes
$5,946
Amenities
Reception Area
Restrooms
Building Details
Building Size
2,660 SF
Year Built
1986
Buildings
1
Stories
1
Listing Agency:
Grace Tyson Real Estate
Listed By:
Grace Tyson · License #46340
(251) 861-8312
Source:
Gracetysonrealestate
Added: Sep 2
Changed: Oct 24
Last Checked: Oct 24 at 3:24PM
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 Grace Tyson Real Estate
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Investment Insights
Based on property information with market context.
This 2,660-square-foot medical office building in Mobile has a clinical layout with three exam rooms, an operating room, two treatment rooms, a nurses station, and a consultation room. Additional areas include reception and waiting space, a private office, secured records room, medical storage, break room, general storage, and separate doctor and public restrooms. The building was constructed in 1986 and is zoned B-1.
The property occupies approximately 0.63 acre and fronts College Lane South with approximately 131 feet of frontage. Access is also available from West I-65 Service Road North. Site features include 10 parking spaces, a four-space rear carport, a porte-cochere, and two storage sheds. Springhill Medical Center, financial and professional businesses, The Highland at Spring Hill, and Legacy Village Shopping Center are identified nearby.
The property occupies approximately 0.63 acre and fronts College Lane South with approximately 131 feet of frontage. Access is also available from West I-65 Service Road North. Site features include 10 parking spaces, a four-space rear carport, a porte-cochere, and two storage sheds. Springhill Medical Center, financial and professional businesses, The Highland at Spring Hill, and Legacy Village Shopping Center are identified nearby.
Key Highlights
- 2,660 SF medical office building built in 1986
- Three exam rooms, one operating room, and two treatment rooms
- Approximately 0.63 acre with approximately 131 feet of frontage on College Lane South
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,981
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,620
$739.6K
Cap Rate 7%
$528,300
$528.3K
Cap Rate 9%
$410,900
$410.9K
Market Conditions
NOI Build-Up for 2,660 SF
Gross rent
$59.1K $22.20/SF
− Vacancy
−$9.7K −$3.66/SF
EGI
$49.3K $18.54/SF
− OpEx
−$12.3K −$4.63/SF
NOI
$37.0K $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 Rate 5%
$739,620
Cap Rate 7%
$528,300
Cap Rate 9%
$410,900
Alternative Uses
Best Use
Office B
$528.3K
$462.3K – $616.4K
NOI $36,981 @ 7.0% cap · market cap 4.94%
Second Best
Healthcare Medical
$516.0K
$451.5K – $602.0K
NOI $36,121 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$676.1K
$591.6K – $788.8K
NOI $47,326 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 36608, AL
39,782
Population
17,690
Households
2.2
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
65.1 sq mi
ZIP Area
611
Density / Sq Mi
$64,372
Median Household Income
$37,530
Median Earnings
$1,045
Median Rent
$234,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Clinical rooms, a reception area, private office, and separate public and physician restrooms support medical use.
Where is this medical office space located?
The property is located at 3664 College Lane S Mobile, AL.
What is the asking price?
The asking price for this property is $748,000.
What are key features of this property?
This property features: 2,660 SF medical office building built in 1986; Three exam rooms, one operating room, and two treatment rooms; Approximately 0.63 acre with approximately 131 feet of frontage on College Lane South
