Building Details

Buildings 1

Stories 1

Listed By: Paul Salter Show Phone

Added: Feb 12, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

This property features a 5,000 square foot office and warehouse building situated on a 4.5-acre parcel in Eight Mile, Alabama. It is located on Schillinger Road, between Highway 98 and Lott Road. The building's layout includes private offices, training rooms, storage space, a break room, and an open floor warehouse area. Access is facilitated by two drive-in doors, one loading dock, and one dock-high door. Approximately 15 parking spaces are available. All utilities are readily accessible. The front 3.11 acres of the property are high and dry, offering potential for future expansion or development, while the rear 1.43 acres appear wet and unsuitable for development. The surrounding area includes residential neighborhoods, multi-family developments, schools, churches, and a variety of commercial businesses. The property is located in the 36575 zip code.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,519

Cap Rate

5.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,380 $570.4K

Cap Rate 7%

$407,414 $407.4K

Cap Rate 9%

$316,878 $316.9K

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$36.0K $7.20/SF

− Vacancy

−$2.4K −$0.49/SF

EGI

$33.6K $6.71/SF

− OpEx

−$5.0K −$1.01/SF

NOI

$28.5K $5.70/SF

Area

Mobile County, 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%

$570,380

Cap Rate 7%

$407,414

Cap Rate 9%

$316,878

Alternative Uses

Best Use

Office B

$926.1K

$810.3K – $1.08M (±1% cap)

NOI $64,827 @ 7.0% cap · market cap 12.49%

Second Best

Warehouse

$407.4K

$356.5K – $475.3K (±1% cap)

NOI $28,519 @ 7.0% cap · market cap 5.49%

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,234 @ 7.0% cap · market cap 16.62%

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

Property Analytics

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Current Use

Industrial properties

Suggested Use

Top Pick Building Supply Auto Parts Store Garden Center Restaurant Carpet & Flooring Store (Bike/Boat/Book/etc) Store

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

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 36575, AL

20,640

Population

8,488

Households

2.4

Avg Household Size

38

Median Age

21%

College-Educated

92%

High-School Grad

40.1 sq mi

ZIP Area

515

Density / Sq Mi

$69,381

Median Household Income

$44,462

Median Earnings

$1,063

Median Rent

$193,600

Median Home Value

Market

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

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - 5,000SF Office/Warehouse Parcel: 4.5± AC For Sale

Where is this warehouse located?

The property is located at 4525 Schillinger Rd Prichard, AL.

What is the asking price?

The asking price for this property is $519,000.