Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9948 Airport Boulevard Mobile, AL 36608

    • Investment properties
    • 71,880 SF
    • 10.09 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0919167
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Charles A. Jordan, RPH / Pharmacy
    • Pamela Batson / Pharmacy
    • Infinity Liquor / Liquor Store
    • Stanley Hatcher / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 9948 Airport Boulevard

    Year built
    1997
    Lot size
    10.09 lot acres
    Property size
    71,880 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    27 08 28 0 000 003.XXX
    APU
    2708280000003XXX

    Description

    This Mobile, Alabama shopping center presents a compelling investment opportunity. The 66,125 square foot property, situated on 10.09 acres at 9948 Airport Blvd (zip code 36608), boasts 100% occupancy with 11 tenants, including Winn-Dixie and Walgreens as anchors. Built in 1997, the single-story center benefits from a strong tenant mix, including service-oriented businesses. Winn-Dixie recently renovated and extended its lease, demonstrating commitment to the location. The property enjoys high visibility due to its location on a hard-signalized intersection, experiencing significant daily traffic. An absolute NNN lease structure minimizes expense exposure for the owner, with tenants responsible for taxes, insurance, and common area maintenance. The property's strong performance is reflected in its 7.20% cap rate and $643,573 NOI. The asking price is $8,941,013 ($135.21/sq ft). Synergistic outparcels, including McDonald's and Whataburger, further enhance the property's appeal. This is a fee simple ownership opportunity with rent bumps included. The property's location within the Mobile MSA offers significant potential for future growth. The center's strong sales and limited competition contribute to its overall value.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,915,000
      Market price range: $4.15M - $11.0M
      AI Estimate
      $5,006,000
      Market price range: $2.66M - $7.72M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,835,000
      Current use
      INDUSTRIAL (GENERAL)
      $10,145,000
      Change: +48% Conversion: Moderate
      OFFICE BUILDING
      $7,835,000
      Change: +15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2773
    Latitude
    30.6721
    CBSA code
    33660
    CBSA name
    MOBILE, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $58,764
    $112,020
    $1,222,380
    $1,334,400
    -
    $560,100
    $6,111,900
    $6,672,000

    Comparable in this City

    • Value Estimation
      $26,870,000
      173,274 SF

      3725 Airport Blvd

      STORE/OFFICE (MIXED USE) • 173,274 SF
      3725 Airport Blvd, Mobile, AL 36608-1633
      View Details
    • Value Estimation by Request
      4,175 SF

      1280 Schillinger N Rd

      STORE/OFFICE (MIXED USE) • 4,175 SF
      1280 Schillinger N Rd, Mobile, AL 36608-5220
      View Details
    • Value Estimation
      $2,325,000
      14,980 SF

      3948 Airport Blvd

      STORE/OFFICE (MIXED USE) • 14,980 SF
      3948 Airport Blvd, Mobile, AL 36608-1624
      View Details
    • Value Estimation
      $735,000
      9,180 SF

      9943 Lifeline Ct

      STORE/OFFICE (MIXED USE) • 9,180 SF
      9943 Lifeline Ct, Mobile, AL 36608-8521
      View Details
    • Value Estimation
      $4,440,000
      73,127 SF

      9 Du Rhu Dr

      STORE/OFFICE (MIXED USE) • 73,127 SF
      9 Du Rhu Dr, Mobile, AL 36608-1258
      View Details
    • Value Estimation by Request
      13,464 SF

      3787 Airport Blvd

      STORE/OFFICE (MIXED USE) • 13,464 SF
      3787 Airport Blvd, Mobile, AL 36608-1617
      View Details

    Similar Nearby for Sale

    • $250,000
      1,600 SF

      Mobile, AL Liquor & Smoke Shop Investment

      Thriving Mobile liquor & smoke shop, prime location.
      5803 Old Shell Road, Mobile, AL 36608
      View Details
    • $1,899,000
      5,131 SF

      Mobile, AL Retail Investment Opportunity

      High-traffic location, 5,220 SF auto retail space.
      751 Schillinger Rd, Mobile, AL 36608
      View Details
    • $4,950,000
      5.20 Acres

      Mobile Commercial Redevelopment Opportunity

      5.2 Acres, 48,000 SF, Motivated Seller
      6819 Old Shell Rd, Mobile, AL 36608
      View Details
    • $236,250
      35.00 Acres

      35-Acre Mobile County Land

      Prime residential development land near Airport Blvd.
      100 Dykes Rd, Mobile, AL 36608
      View Details
    • $784,000
      4,748 SF

      Airport Blvd Retail Building

      Freestanding Bank, High Traffic Area
      7860 Airport Blvd, Mobile, AL 36608
      View Details
    • $499,000

      Mobile Airport Commercial Land

      9 Acres, Development-Ready, High Visibility
      0 Airport Blvd, Mobile, AL 36608
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,600 SF

      Spring Hill Retail Space - Lease Now

      High-visibility retail space, ideal location.
      4504 Old Shell Rd, Mobile, AL 36608
      View Details
    • $22 SF/Yr
      2,562 SF

      Historic Mobile Office Space For Lease

      Prime location, 2562 sq ft, flexible lease.
      3703 Old Shell Rd, Mobile, AL 36608
      View Details
    • $17 SF/Yr
      2,805 SF

      Mobile Office Space Available

      2805 sq ft office, NNN lease, available April 1st.
      4630 Bit And Spur Rd, Mobile, AL 36608
      View Details
    • $11 SF/Yr
      900 SF

      West Mobile Office Suite E For Lease

      900 sq ft office, great West Mobile location.
      207 Tanner Williams Ct, Mobile, AL 36608
      View Details
    • $20 SF/Yr
      1,069 SF

      West Mobile Office Suite Available

      Modern 1069 SF Office, Great Location
      4682 Airport Blvd, Mobile, AL 36608
      View Details
    • $14 SF/Yr
      25,341 SF

      Plaza De Malaga Executive Suites

      Airport Blvd Office Space, Mobile, AL
      6157 Airport Blvd, Mobile, AL 36608
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9948 Airport Boulevard
    Mobile, AL 36608
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.