Self-Storage Facility with
For Sale
Contact for pricing
5441 Highway 90 W, Mobile, AL 72455
Mixed-use property combines a storage operation with a fully leased retail component.
Property Size85,896 SF
Price / SF$79.75
Days on Market18
Property Features for 5441 Highway 90 W
General Information
Standard status
Active
Size
85,896 SF
Property subtype
Self Storage, Retail
Occupancy
82%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$410,193
Building Details
Buildings
1
Units
324
Tenancy
Multi
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: Aug 5
Changed: Aug 13
Last Checked: Aug 21 at 7:56PM
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 Grandstone Investment Sales
Investment Insights
Based on property information with market context.
This self-storage facility is a former big-box retail conversion with 85,896 net rentable square feet and an integrated retail component. Extra Space Storage operates the storage portion, while America's Thrift Store occupies the retail area under a lease extended through 12/31/37.
Storage operations are reported at 82.20% physical occupancy and 77.37% economic occupancy. The combination of storage and retail uses provides two distinct operating components within the converted commercial property.
Storage operations are reported at 82.20% physical occupancy and 77.37% economic occupancy. The combination of storage and retail uses provides two distinct operating components within the converted commercial property.
Key Highlights
- 85,896 net rentable square feet in a converted big‑box retail property
- Extra Space Storage operates the self‑storage component
- Retail area is fully leased to America's Thrift Store
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
$489,937
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
7.15%
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%
$9,798,740
$9.8M
Cap Rate 7%
$6,999,100
$7.0M
Cap Rate 9%
$5,443,744
$5.4M
Market Conditions
NOI Build-Up for 85,896 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
$618.5K $7.20/SF
− Vacancy
−$42.1K −$0.49/SF
EGI
$576.4K $6.71/SF
− OpEx
−$86.5K −$1.01/SF
NOI
$489.9K $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%
$9,798,740
Cap Rate 7%
$6,999,100
Cap Rate 9%
$5,443,744
Alternative Uses
Best Use
Retail
$16.24M
$14.21M – $18.95M
NOI $1,136,945 @ 7.0% cap · market cap 16.60%
Second Best
Self Storage
$13.68M
$11.97M – $15.95M
NOI $957,285 @ 7.0% cap · market cap 13.97%
Theoretical Best
Office A
$21.83M
$19.10M – $25.47M
NOI $1,528,234 @ 7.0% cap · market cap 22.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Mixed-use property combines a storage operation with a fully leased retail component.
Where is this self storage facility located?
The property is located at 5441 Highway 90 W Mobile, AL.
What is the asking price?
The asking price for this property is $6,850,000.
What are key features of this property?
This property features: 85,896 net rentable square feet in a converted big‑box retail property; Extra Space Storage operates the self‑storage component; Retail area is fully leased to America's Thrift Store
