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    2451 D'iberville Dr Mobile, AL 36695

    Sponsored
    For Sale
    $3,361,921

    High-yield, NNN-leased medical property.

    Property size:
    3,726 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional investment opportunity presents a 3,726 square foot, single-tenant net-leased storefront property in Mobile, Alabama. The property, built in 2023, is 100% occupied by Fast Pace Health under a 15.3-year lease commencing December 28, 2023, and expiring April 30, 2039. The lease includes a substantial 14.4 years remaining on the primary term, with three 5-year renewal options. Rent increases by 10% every five years, ensuring consistent income growth. The property boasts a strong 6.35% cap rate and a Net Operating Income (NOI) of $213,482, with an asking price of $3,361,921 ($902.29/sq ft). Landlord responsibilities are limited to the building structure only. The strategic location on D'Iberville Dr N, Mobile, AL 36695, benefits from high traffic volume (over 20,500 vehicles per day) and proximity to major retailers such as Walmart Supercenter and a newly constructed Publix. The surrounding area demonstrates strong demographics, with over 95,900 residents within a five-mile radius and a six-figure average household income ($114,068) within a three-mile radius. Fast Pace Health, a rapidly expanding urgent care provider with over 250 locations, provides a stable and recession-resistant tenant. This investment offers a compelling combination of strong cash flow, long-term lease security, and significant upside potential. The property's location in Mobile, Alabama's third-largest city, further enhances its value within a key economic hub.

    Property Features for 2451 D'iberville Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,726 SF

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    Randy Blankstein
    Randy Blankstein

    Learn more

    HighLights

    • Mobile, Alabama's third‑largest city and a major economic center.
    • Fast Pace Health, a large and growing healthcare provider (250+ locations), occupies the space.
    • Brand new construction completed in 2023.
    • Long‑term lease with 14+ years remaining.
    • Lease includes 10% rental increases every five years.
    • E‑commerce resistant medical tenant provides stable income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2446542
    Latitude
    30.6396308

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN-leased medical property.
    Where is this individual retail property located?
    The property is located at 2451 D'iberville Dr Mobile, AL.
    What is the asking price?
    The asking price for this property is $3,361,921.
    What are key features of this property?
    This property features: Mobile, Alabama's third-largest city and a major economic center.; Fast Pace Health, a large and growing healthcare provider (250+ locations), occupies the space.; Brand new construction completed in 2023.
    Request Owner's contact information
    2451 D'iberville Dr Mobile, AL 36695
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    Mobile, AL 36695
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2451 D'iberville Dr Mobile, AL 36695
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    We can help!
    Listing Contact
    Randy Blankstein
    Randy Blankstein
    Real Estate License ID: IL 471005983
    Learn more
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