Commercial Land with Existing
For Sale
$375,000
6125 Spice Pond Road, Eight Mile, AL 36613
Commercial Sale, Eight Mile, AL
Property Size2,315 SF
Lot Size2.28 Acres
Price / SF$161.99
Days on Market374
Property Features for 6125 Spice Pond Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Parking features
Parking Lot
Window features
Aluminum Frames
Interior features
High Ceilings 10 or Greater, Reception Area, Recessed Lighting, Restrooms
Lot features
Corner Lot, Level, Rectangular Lot
Standard status
Active
APN
1808330000038
Size
2,315 SF
Lot size
2.28 Acres
Taxes and HOA fees
Tax Annual Amount
1634
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Flooring type
Tile - Ceramic, Vinyl, Carpet, Laminate
Building materials
Cedar, Wood Siding
Roof type
Metal
Listing Agency:
Keller Williams Mobile · Keller Williams Realty
(251) 662-5660
Listed By:
Stephen Hickman
(251) 802-1923
Added: Sep 19, 2025
Changed: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 7652996
Copyright © 2026 Mobile Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2.28-acre commercial land parcel includes a 2,315-square-foot building constructed in 1991. The improvements feature a reception area, restrooms, high ceilings of 10 feet or greater, recessed lighting, and a mix of carpet, ceramic tile, vinyl, and laminate flooring. Cedar and wood siding, a metal roof, central heating, and central air are also present, along with window-unit cooling. The site includes a parking lot and is served by public water and public sewer, with cable available.
Located in an unincorporated area of Mobile County, the property has no zoning restrictions stated in the source information and provides more than 350 feet of road frontage. The existing improvements can support continued commercial use or redevelopment, subject to buyer verification during due diligence.
Located in an unincorporated area of Mobile County, the property has no zoning restrictions stated in the source information and provides more than 350 feet of road frontage. The existing improvements can support continued commercial use or redevelopment, subject to buyer verification during due diligence.
Key Highlights
- 2.28 +/- acres of commercial land
- 2,315‑square‑foot building constructed in 1991
- Over 350 feet of road frontage
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
$30,642
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
8.17%
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%
$612,840
$612.8K
Cap Rate 7%
$437,743
$437.7K
Cap Rate 9%
$340,467
$340.5K
Market Conditions
NOI Build-Up for 2,315 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
$45.8K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$43.8K $18.91/SF
− OpEx
−$13.1K −$5.67/SF
NOI
$30.6K $13.24/SF
Area
Mobile County, AL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$612,840
Cap Rate 7%
$437,743
Cap Rate 9%
$340,467
Alternative Uses
Best Use
Retail
$437.7K
$383.0K – $510.7K
NOI $30,642 @ 7.0% cap · market cap 8.17%
Second Best
Specialty Retail
$347.9K
$304.4K – $405.9K
NOI $24,351 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$570.4K
$499.1K – $665.4K
NOI $39,926 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 36613, AL
12,383
Population
4,890
Households
2.5
Avg Household Size
43
Median Age
15%
College-Educated
83%
High-School Grad
52.0 sq mi
ZIP Area
238
Density / Sq Mi
$49,317
Median Household Income
$35,509
Median Earnings
$1,233
Median Rent
$145,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial parcel with public utilities, road exposure, and an existing building offering flexible redevelopment potential.
Where is this commercial land located?
The property is located at 6125 Spice Pond Road Eight Mile, AL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2.28 +/- acres of commercial land; 2,315‑square‑foot building constructed in 1991; Over 350 feet of road frontage
