Cleared Flex Land with Portable
For Sale
$50,000
6768 Gaywood Drive, Mobile, AL 36605
LAND - Mobile, AL
Property Size560 SF
Lot Size0.45 Acres
Price / SF$89.29
Days on Market48
Property Features for 6768 Gaywood Drive
General Information
Property type
Land
Property subtype
Other
Subdivision
Metes & Bounds
Lot features
Cleared
Elementary school
Hollingers Island
Middle school
Katherine H Hankins
High school
Theodore
Standard status
Active
APN
390101000403702
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
116
Utilities
Utilities
Electricity Available
Building Details
Additional Structures
Outbuilding
Listing Agency:
Bellator Real Estate LLC Mobile
(251) 343-7777
Listed By:
Jared Giddens · License #88516
(251) 716-6122
Added: Jul 15
Changed: Jul 16
Last Checked: Aug 31 at 10:06AM
MLS# 7805558
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 cleared property in Mobile, Alabama includes a 2024 portable building measuring 14' x 40'. The interior is unfinished, giving a blank interior for a workshop, office, storage, or other customized use, subject to applicable approvals. The building is supported by recent improvements, including a new well with pump house, a new gravel driveway, and a new HVAC system.
The site is ready for a buyer’s finishing touches, with utilities addressed through the new well and HVAC and an accessible gravel driveway in place.
All information should be verified by the buyer during due diligence.
The site is ready for a buyer’s finishing touches, with utilities addressed through the new well and HVAC and an accessible gravel driveway in place.
All information should be verified by the buyer during due diligence.
Key Highlights
- 14' x 40' portable building (2024) included, with unfinished interior for customization
- New well with pump house on the property
- New gravel driveway
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
$2,813
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
5.63%
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%
$56,260
$56.3K
Cap Rate 7%
$40,186
$40.2K
Cap Rate 9%
$31,256
$31.3K
Market Conditions
NOI Build-Up for 560 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
$4.7K $8.40/SF
− Vacancy
−$376 −$0.67/SF
EGI
$4.3K $7.73/SF
− OpEx
−$1.5K −$2.70/SF
NOI
$2.8K $5.02/SF
Area
Mobile, AL
Vacancy
8.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$56,260
Cap Rate 7%
$40,186
Cap Rate 9%
$31,256
Alternative Uses
Best Use
Flex RnD
$40.2K
$35.2K – $46.9K
NOI $2,813 @ 7.0% cap · market cap 5.63%
Second Best
Industrial
$37.6K
$32.9K – $43.8K
NOI $2,630 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$142.3K
$124.5K – $166.1K
NOI $9,963 @ 7.0% cap · market cap 19.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36605, AL
25,113
Population
12,195
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
17.6 sq mi
ZIP Area
1,427
Density / Sq Mi
$45,064
Median Household Income
$32,003
Median Earnings
$1,026
Median Rent
$97,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Cleared property in Mobile, AL with a 2024 portable building, new well, gravel driveway, and HVAC for customization.
Where is this flex space located?
The property is located at 6768 Gaywood Drive Mobile, AL.
What is the asking price?
The asking price for this property is $50,000.
What are key features of this property?
This property features: 14' x 40' portable building (2024) included, with unfinished interior for customization; New well with pump house on the property; New gravel driveway
