Office-Flex Property with Loading
For Sale
$1,590,000
500 Broadcast Drive, Mobile, AL 36606
Combined office and warehouse areas support administrative functions, storage, and logistics operations.
Property Size8,274 SF
Price / SF$195.09
Days on Market404
Property Features for 500 Broadcast Drive
General Information
Standard status
Active
Size
8,274 SF
Property subtype
General Commercial
Amenities
Central Air
3
Parking.
Lot.
Building Details
Year Built
2015
Buildings
1
Stories
1
Building Size
8,274 SF
Listing Agency:
LPT Realty LLC
(317) 645-8717
Listed By:
Michael Mergell · License #131211
(317) 645-8717
Source:
Xome
Added: Jul 23, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:29PM
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 LPT Realty LLC
Investment Insights
Based on property information with market context.
Built in 2015, this flex property combines finished office areas with dedicated warehouse or storage space. The interior includes a reception area, multiple private offices, meeting rooms, a staff kitchen, and well-maintained restrooms. Central air supports the office environment, while a loading area adds practical functionality for moving goods and materials. On-site parking and lot space are also included.
The property is located at 500 Broadcast Drive in Mobile, with access to major transportation routes and surrounding commercial activity. Its mix of workplace and storage components provides a functional setting for businesses requiring both office operations and warehouse capacity.
The property is located at 500 Broadcast Drive in Mobile, with access to major transportation routes and surrounding commercial activity. Its mix of workplace and storage components provides a functional setting for businesses requiring both office operations and warehouse capacity.
Key Highlights
- 8,150‑square‑foot flex property with office and warehouse components
- Built in 2015 with central air
- Loading area supports logistics and material movement
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
$113,307
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
7.13%
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%
$2,266,140
$2.3M
Cap Rate 7%
$1,618,671
$1.6M
Cap Rate 9%
$1,258,967
$1.3M
Market Conditions
NOI Build-Up for 8,150 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
$180.9K $22.20/SF
− Vacancy
−$29.9K −$3.66/SF
EGI
$151.1K $18.54/SF
− OpEx
−$37.8K −$4.63/SF
NOI
$113.3K $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 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%
$2,266,140
Cap Rate 7%
$1,618,671
Cap Rate 9%
$1,258,967
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.89M
NOI $113,307 @ 7.0% cap · market cap 7.13%
Second Best
Warehouse
$664.1K
$581.1K – $774.8K
NOI $46,486 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,002 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,105
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse areas support administrative functions, storage, and logistics operations.
Where is this flex space located?
The property is located at 500 Broadcast Drive Mobile, AL.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 8,150‑square‑foot flex property with office and warehouse components; Built in 2015 with central air; Loading area supports logistics and material movement
