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    3226 St Stephens Rd Mobile, AL 36612
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    3226 St Stephens Rd, Mobile, AL 36612

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    • Retail properties & Spaces
    • 10,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3226 St Stephens Rd

    Year built
    1996
    Property type
    Retail properties & Spaces
    Property subtype
    Drug stores

    Description

    This exceptional 10,000 square foot retail property, located at 3226 St Stephens Rd in Mobile, Alabama, presents a unique investment opportunity. Currently vacant, this single-story, 1996-built building sits on a substantial 39,961 square foot lot and boasts excellent visibility from a busy intersection. The property is zoned B-2 General Business, offering flexibility for a variety of uses. The building itself features a metal frame with a metal roof, concrete slab, brick front, and ample storefront glass. Three-phase voltage is available. The location is highly desirable, situated on St. Stephens Road (Hwy 45), less than a mile from I-65, and surrounded by national brand businesses including Advance Auto, O'Reilly Auto, and several fast-food restaurants. The property's previous tenant occupied the space for over 15 years, demonstrating its strong potential for long-term success. The asking price is $589,000, translating to $58.90 per square foot. This fee-simple ownership opportunity offers significant upside potential for savvy investors seeking a prime retail location in a thriving Mobile County market. The property's size and location make it suitable for a range of retail, office, storage, or warehouse uses. The large lot provides ample space for expansion or additional development. This is a rare chance to acquire a well-positioned, vacant retail space in a high-traffic area with significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1148
    Latitude
    30.7501

    Comparable in this City

    • Value Estimation by Request
      1,392 SF

      2910 Saint Stephens Rd

      CONVENIENCE STORE
      2910 Saint Stephens Rd, Mobile, AL 36612-1207
      View Details
    • Value Estimation
      $2,700,000
      11,737 SF

      2600 65th Service N Rd

      CONVENIENCE STORE
      2600 65th Service N Rd, Mobile, AL 36612-2100
      View Details
    • Value Estimation by Request
      1,951 SF

      309 Leeds Ave

      CONVENIENCE STORE
      309 Leeds Ave, Mobile, AL 36612-1513
      View Details
    • Value Estimation by Request
      718 SF

      4204 Saint Stephens Rd

      CONVENIENCE STORE
      4204 Saint Stephens Rd, Mobile, AL 36612-1236
      View Details
    • Value Estimation
      $540,000
      3,084 SF

      3110 Saint Stephens Rd

      CONVENIENCE STORE
      3110 Saint Stephens Rd, Mobile, AL 36612-1211
      View Details
    • Value Estimation by Request
      2,211 SF

      2815 Saint Stephens Rd

      CONVENIENCE STORE
      2815 Saint Stephens Rd, Mobile, AL 36612-1204
      View Details

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      Prime Commercial Property on St Stephens

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    Similar Nearby for Lease

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      7,647 SF

      Retail Space with Ample Parking

      Retail space with high visibility and pylon signage available.
      3450 St Stephens Rd, Mobile, AL 36612
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    • Contact for pricing
      10,000 SF

      Retail Space in Shopping Center

      Retail space available in high-traffic shopping center on Hwy 45.
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      Warehouse Space with Office

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    Mobile, AL 36612
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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
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