Multi-Tenant Retail Center For
For Sale
Contact for pricing
960 Schillinger Rd S, Mobile, AL 36695
Neighborhood retail center with high occupancy in thriving retail hub.
Property Size25,250 SF
Lot Size2.86 Acres
Price / SF$182.18
Days on Market252
Property Features for 960 Schillinger Rd S
General Information
Standard status
Active
Size
25,250 SF
Lot size
2.86 Acres
Property subtype
Retail
Zoning
B-3
Occupancy
90%
Building Details
Year Built
2006
Buildings
1
Units
11
Listing Agency:
Herrington Realty
Listed By:
Colby Herrington, CCIM · License #AL 000100848-0
(251) 490-6995
Source:
Crexi
Added: Feb 4
Changed: Sep 29
Last Checked: Oct 12 at 8:39PM
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 Herrington Realty
Investment Insights
Based on property information with market context.
Palmetto Place is a multi-tenant neighborhood retail center located at 960 Schillinger Rd S in Mobile, Alabama. Constructed in 2006, the property consists of 25,250 square feet situated on a 2.86-acre lot. The center features 11 total units, with 10 units currently leased, resulting in a 90% occupancy rate. The property benefits from high visibility along Schillinger Road, offering frontage and exposure to a prominent retail corridor. Located in the heart of West Mobile, Palmetto Place experiences traffic counts exceeding 40,000 vehicles per day. The center is positioned directly across the street from a new Aldi, Panda Express, and a major new apartment complex, reflecting ongoing residential and commercial growth in the area. Surrounded by national retailers such as Walmart, Target, Kohl's, and Home Depot, the property is located within a thriving retail hub.
Key Highlights
- High‑visibility location on Schillinger Road with traffic counts exceeding 40,000 vehicles per day.
- 90% occupancy with a diverse mix of tenants, providing a stable investment.
- Located in the heart of West Mobile, a thriving retail hub.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$334,217
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,684,340
$6.7M
Cap Rate 7%
$4,774,529
$4.8M
Cap Rate 9%
$3,713,522
$3.7M
Market Conditions
NOI Build-Up for 25,250 SF
Gross rent
$500.0K $19.80/SF
− Vacancy
−$22.5K −$0.89/SF
EGI
$477.5K $18.91/SF
− OpEx
−$143.2K −$5.67/SF
NOI
$334.2K $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 Rate 5%
$6,684,340
Cap Rate 7%
$4,774,529
Cap Rate 9%
$3,713,522
Alternative Uses
Best Use
Retail
$4.77M
$4.18M – $5.57M
NOI $334,217 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.42M
$5.62M – $7.49M
NOI $449,240 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36695, AL
51,174
Population
21,269
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
1,122
Density / Sq Mi
$75,236
Median Household Income
$47,614
Median Earnings
$1,192
Median Rent
$234,200
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?
Shopping center - Neighborhood retail center with high occupancy in thriving retail hub.
Where is this shopping center located?
The property is located at 960 Schillinger Rd S Mobile, AL.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: High‑visibility location on Schillinger Road with traffic counts exceeding 40,000 vehicles per day.; 90% occupancy with a diverse mix of tenants, providing a stable investment.; Located in the heart of West Mobile, a thriving retail hub.
