Conventional Restaurant Building with
For Sale
Contact for pricing
960 S Broad St, Mobile, AL 36603
B-3 property with a dining room, kitchen, prep area, and separate storage building.
Property Size1,285 SF
Price / SF$188.07
Days on Market333
Property Features for 960 S Broad St
General Information
Standard status
Active
Size
1,285 SF
Property subtype
RETAIL
Zoning
B-3
Additional Details
Equipment Included
No
Building Details
Buildings
2
Listing Agency:
EXIT Realty Promise
(731) 695-5360
Listed By:
Terry N. Shelburne · License #127317
(731) 695-5360
Source:
Moodyscre
Added: Oct 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:43PM
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 EXIT Realty Promise
Investment Insights
Based on property information with market context.
This 1,285-square-foot conventional restaurant property includes the building and land, with a separate storage building on the site. Interior improvements include a spacious dining room, kitchen, and prep area, while a new HVAC system provides a recent building upgrade. The property is positioned on a corner lot along S Broad St in Mobile.
The site is designated B-3. Down The Bay is identified as a potential continuing occupant, offering an alternative to immediate owner operation. The property previously operated as Dell's Cafeteria & Catering. All contents and equipment belong to the lessee and are excluded from the sale.
The site is designated B-3. Down The Bay is identified as a potential continuing occupant, offering an alternative to immediate owner operation. The property previously operated as Dell's Cafeteria & Catering. All contents and equipment belong to the lessee and are excluded from the sale.
Key Highlights
- 1,285 SF conventional restaurant property
- B‑3 building and land
- Corner‑lot position on S Broad St in Mobile
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
$19,429
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
8.04%
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%
$388,580
$388.6K
Cap Rate 7%
$277,557
$277.6K
Cap Rate 9%
$215,878
$215.9K
Market Conditions
NOI Build-Up for 1,285 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
$27.0K $21.00/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$25.9K $20.16/SF
− OpEx
−$6.5K −$5.04/SF
NOI
$19.4K $15.12/SF
Area
Mobile, AL
Vacancy
4.00%
Lease Rate
$21.00 /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%
$388,580
Cap Rate 7%
$277,557
Cap Rate 9%
$215,878
Alternative Uses
Best Use
Specialty Retail
$277.6K
$242.9K – $323.8K
NOI $19,429 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.6K
$285.8K – $381.0K
NOI $22,862 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36603, AL
8,184
Population
3,880
Households
2.1
Avg Household Size
38
Median Age
12%
College-Educated
79%
High-School Grad
3.8 sq mi
ZIP Area
2,154
Density / Sq Mi
$27,083
Median Household Income
$24,688
Median Earnings
$704
Median Rent
$107,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - B-3 property with a dining room, kitchen, prep area, and separate storage building.
Where is this conventional restaurant located?
The property is located at 960 S Broad St Mobile, AL.
What is the asking price?
The asking price for this property is $241,667.
What are key features of this property?
This property features: 1,285 SF conventional restaurant property; B‑3 building and land; Corner‑lot position on S Broad St in Mobile
