Flex Warehouse with Office
For Sale
Contact for pricing
3755 Government Blvd, Mobile, AL 36693
Main building offers office/showroom and shop space, complemented by a separate warehouse totaling 11,700+ and 5,000+ sf.
Property Size16,700 SF
Price / SF$65.87
Days on Market304
Property Features for 3755 Government Blvd
General Information
Standard status
Active
Size
16,700 SF
Property subtype
RETAIL
Listing Agency:
Metcalfe & Company, Inc.
(251) 432-2600
Listed By:
Adam J. Metcalfe · License #000024789
(251) 610-0069
Source:
Moodyscre
Added: Nov 5, 2025
Changed: Aug 14
Last Checked: Sep 4 at 5:40PM
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 Metcalfe & Company, Inc.
Investment Insights
Based on property information with market context.
This flex-style commercial property includes a main building totaling 11,700+/- sf, with 7,000+/- sf dedicated to office/showroom space and 4,700+/- sf configured as shop area. A separate warehouse building totals 5,000+/- sf, providing additional enclosed operational space.
The property is located at 3755 Government Blvd in Mobile, AL 36693, and is offered for sale.
With a split between office/showroom and shop use in the main building, along with a dedicated warehouse, the layout is well-suited for businesses that need both customer-facing or administrative space and on-site storage or production/operations.
The property is located at 3755 Government Blvd in Mobile, AL 36693, and is offered for sale.
With a split between office/showroom and shop use in the main building, along with a dedicated warehouse, the layout is well-suited for businesses that need both customer-facing or administrative space and on-site storage or production/operations.
Key Highlights
- Main building totals 11,700+/- sf: 7,000+/- sf office/showroom and 4,700+/- sf shop area
- Separate warehouse totals 5,000+/- sf
- Lease rate: main building at $6.00 psf and warehouse at $7.20 psf
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
$95,254
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
8.66%
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%
$1,905,080
$1.9M
Cap Rate 7%
$1,360,771
$1.4M
Cap Rate 9%
$1,058,378
$1.1M
Market Conditions
NOI Build-Up for 16,700 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
$120.2K $7.20/SF
− Vacancy
−$8.2K −$0.49/SF
EGI
$112.1K $6.71/SF
− OpEx
−$16.8K −$1.01/SF
NOI
$95.3K $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%
$1,905,080
Cap Rate 7%
$1,360,771
Cap Rate 9%
$1,058,378
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,254 @ 7.0% cap · market cap 8.66%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,887 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,121 @ 7.0% cap · market cap 27.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36693, AL
18,914
Population
8,833
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
12.7 sq mi
ZIP Area
1,489
Density / Sq Mi
$69,580
Median Household Income
$41,328
Median Earnings
$1,090
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Thymes Eatery and Catering — 3550 Government Blvd, Mobile, AL 36693, United States
- Divine Etiquette Catering & Events — 3900 Cottage Hill Rd, Mobile, AL 36609
- Firehouse Subs McGowan Park — 3075 Government Blvd B105, Mobile, AL 36606
Frequently Asked Questions
What type of property is this?
Flex space - Main building offers office/showroom and shop space, complemented by a separate warehouse totaling 11,700+ and 5,000+ sf.
Where is this flex space located?
The property is located at 3755 Government Blvd Mobile, AL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Main building totals 11,700+/- sf: 7,000+/- sf office/showroom and 4,700+/- sf shop area; Separate warehouse totals 5,000+/- sf; Lease rate: main building at $6.00 psf and warehouse at $7.20 psf
