Downtown Mobile Commercial
For Sale
Contact for pricing
60 N Royal St, Mobile, AL
Full-floor commercial space in Historic Downtown Mobile.
Property Size3,646 SF
Lot Size0.07 Acres
Price / SF$214.48
Days on Market412
Property Features for 60 N Royal St
General Information
Standard status
Active
Size
3,646 SF
Lot size
0.07 Acres
Property subtype
OFFICE
Listing Agency:
Cummings & Associates, Inc.
(251) 455-9844
Listed By:
Matthew Cummings · License #000051961
(251) 455-9844
Source:
Moodyscre
Added: Jul 14, 2025
Changed: Aug 16
Last Checked: Aug 28 at 7:18PM
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 Cummings & Associates, Inc.
Investment Insights
Based on property information with market context.
Located in the Historic Downtown Mobile area, this full-floor commercial property offers approximately 3,646 square feet of flexible space. The property is situated within the Historic District and an Opportunity Zone. Zoned BT-6, the property allows for multiple commercial uses. The space can be divided into two separate units. The property features an open floor plan and private office spaces. On-street public parking is available directly in front of the building, with additional parking decks located nearby. The property benefits from high visibility and foot traffic in a thriving downtown corridor, offering potential for business owners and investors.
Key Highlights
- Located in the Historic District and Opportunity Zone.
- Flexible 3,646 sq ft full‑floor commercial space.
- Easily divisible into two separate units.
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
$50,689
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
6.48%
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%
$1,013,780
$1.0M
Cap Rate 7%
$724,129
$724.1K
Cap Rate 9%
$563,211
$563.2K
Market Conditions
NOI Build-Up for 3,646 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
$80.9K $22.20/SF
− Vacancy
−$13.4K −$3.66/SF
EGI
$67.6K $18.54/SF
− OpEx
−$16.9K −$4.63/SF
NOI
$50.7K $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%
$1,013,780
Cap Rate 7%
$724,129
Cap Rate 9%
$563,211
Alternative Uses
Best Use
Office B
$724.1K
$633.6K – $844.8K
NOI $50,689 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$926.7K
$810.9K – $1.08M
NOI $64,868 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,715
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Full-floor commercial space in Historic Downtown Mobile.
Where is this office units located?
The property is located at 60 N Royal St Mobile, AL.
What is the asking price?
The asking price for this property is $782,000.
What are key features of this property?
This property features: Located in the Historic District and Opportunity Zone.; Flexible 3,646 sq ft full‑floor commercial space.; Easily divisible into two separate units.
