Medical Office
For Sale
Contact for pricing
9971 Airport Boulevard, Mobile, AL 36608
Vacant medical office property constructed in 2016 for healthcare-related use.
Property Size7,438 SF
Price / SF$268.89
Days on Market20
Property Features for 9971 Airport Boulevard
General Information
Standard status
Active
Size
7,438 SF
Property subtype
Retail, Office
Building Details
Year Built
2016
Listing Agency:
Matthews
(615) 667-0097
Listed By:
Hutt Cooke · License #AL 000168807 - 0
Source:
Crexi
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 29 at 7:08PM
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 Matthews
Investment Insights
Based on property information with market context.
This vacant medical office property contains 7,438 square feet and was constructed in 2016. The asset is identified as a medical facility and is offered for sale.
The property is located at 9971 Airport Boulevard in Mobile, Alabama, within the 36608 ZIP code. Its dedicated medical-office classification provides a clear basis for evaluating the facility for healthcare-related occupancy.
The property is located at 9971 Airport Boulevard in Mobile, Alabama, within the 36608 ZIP code. Its dedicated medical-office classification provides a clear basis for evaluating the facility for healthcare-related occupancy.
Key Highlights
- 7,438‑square‑foot medical office property
- Constructed in 2016
- Vacant medical facility available for sale
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
$103,409
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
5.17%
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%
$2,068,180
$2.1M
Cap Rate 7%
$1,477,271
$1.5M
Cap Rate 9%
$1,148,989
$1.1M
Market Conditions
NOI Build-Up for 7,438 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
$165.1K $22.20/SF
− Vacancy
−$27.2K −$3.66/SF
EGI
$137.9K $18.54/SF
− OpEx
−$34.5K −$4.63/SF
NOI
$103.4K $13.90/SF
Area
Mobile, AL
Vacancy
16.50%
Lease Rate
$22.20 /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%
$2,068,180
Cap Rate 7%
$1,477,271
Cap Rate 9%
$1,148,989
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,409 @ 7.0% cap · market cap 5.17%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $101,002 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,335 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant medical office property constructed in 2016 for healthcare-related use.
Where is this medical office space located?
The property is located at 9971 Airport Boulevard Mobile, AL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 7,438‑square‑foot medical office property; Constructed in 2016; Vacant medical facility available for sale
