Renovated Drive-Through Retail
For Sale
Contact for pricing
6151 Airport Blvd, Mobile, AL 36608
Renovated retail property with drive-through access and B-2 zoning on a heavily traveled corridor.
Property Size3,220 SF
Lot Size0.44 Acres
Price / SF$295.03
Days on Market77
Property Features for 6151 Airport Blvd
General Information
Standard status
Active
Size
3,220 SF
Lot size
0.44 Acres
Property subtype
RETAIL
Zoning
B-2
Additional Details
Business Included
No
Traffic Count
41,002 vehicles/day
Listing Agency:
Hamilton & Co. LLC
(251) 375-6677
Listed By:
Lewis H. Golden · License #75767
(251) 581-3733
Source:
Moodyscre
Added: Jul 1
Changed: Sep 3
Last Checked: Sep 14 at 11:16AM
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 Hamilton & Co. LLC
Investment Insights
Based on property information with market context.
Renovated retail property offering approximately 3,220 +/- total square feet and configured for drive-through service. The site is zoned B-2 (Neighborhood Business) and includes approximately 0.44 +/- acres.
Located at 6151 Airport Blvd in Mobile, Alabama, the property benefits from strong area traffic, with 2025 AADT of 41,002.
This combination of drive-through functionality, B-2 zoning, and recent renovation makes the property well-suited for a retail tenant or buyer seeking a retail-focused site on a busy arterial.
Located at 6151 Airport Blvd in Mobile, Alabama, the property benefits from strong area traffic, with 2025 AADT of 41,002.
This combination of drive-through functionality, B-2 zoning, and recent renovation makes the property well-suited for a retail tenant or buyer seeking a retail-focused site on a busy arterial.
Key Highlights
- 3,220 +/- total SF renovated retail space
- Drive‑through access for customer service and traffic flow
- Zoned B‑2, neighborhood business
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
$42,621
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
4.49%
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%
$852,420
$852.4K
Cap Rate 7%
$608,871
$608.9K
Cap Rate 9%
$473,567
$473.6K
Market Conditions
NOI Build-Up for 3,220 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
$63.8K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$60.9K $18.91/SF
− OpEx
−$18.3K −$5.67/SF
NOI
$42.6K $13.24/SF
Area
Mobile, 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%
$852,420
Cap Rate 7%
$608,871
Cap Rate 9%
$473,567
Alternative Uses
Best Use
Retail
$608.9K
$532.8K – $710.4K
NOI $42,621 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$818.4K
$716.1K – $954.8K
NOI $57,289 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
41,002 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 36608, AL
39,782
Population
17,690
Households
2.2
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
65.1 sq mi
ZIP Area
611
Density / Sq Mi
$64,372
Median Household Income
$37,530
Median Earnings
$1,045
Median Rent
$234,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated retail property with drive-through access and B-2 zoning on a heavily traveled corridor.
Where is this retail space located?
The property is located at 6151 Airport Blvd Mobile, AL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,220 +/- total SF renovated retail space; Drive‑through access for customer service and traffic flow; Zoned B‑2, neighborhood business
