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    • Brokers

    Kennon Henderson, Mobile, AL

    License ID: 088474
    Years of Experience
    17
    Languages
    English
    Association
    Mobile Area Association Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (251) 402-0420
    Office Address:
    273, Azalea Rd, Mobile, AL 36609

    Property Types

    • Land
    • Residential Multi Family

    Performance

    Listings
    28
    Total transactions
    190
    Total transactions amount
    $18M
    Price range
    $63k - 143k
    Average price
    $95k

    Listings

    For Sale (28)

    View map
    • Contact for pricing
      1.00 Acres

      Unrestricted Acre Lot in Wilmer

      Wooded, unrestricted 1-acre lot suitable for mobile home or barndominium.
      00000 Glenwood Farms Dr, Wilmer, AL 36587
      View Details
    • $216,000
      18.11 Acres

      Cleared Land Next to Fire Department

      Unrestricted 18.1 acre parcel in Chunchula, Alabama.
      Lott Rd, Chunchula, AL 36521
      View Details
    • Contact for pricing
      0.32 Acres

      Saraland Land with Owner Financing

      Wooded corner lot in Saraland, Alabama with owner financing.
      Lind St, Saraland, AL 36571
      View Details
    • $35,000
      1.33 Acres

      Unrestricted Land in Grand Bay, AL

      Wooded 1.33-acre lot suitable for mobile home or cottage.
      Lawson Rd Ext, Grand Bay, AL 36541
      View Details
    • $250,000
      0.47 Acres

      Commercial Lot on Airport Boulevard

      Cleared commercial land in the heart of West Mobile.
      Airport Blvd, Mobile, AL 36608
      View Details
    • $550,000
      2.11 Acres

      Corner Lot on Airport Boulevard

      2.1 acre commercial lot with high traffic counts.
      Airport Blvd, Mobile, AL 36608
      View Details
    • $76,500
      0.20 Acres

      Bayou Sara Waterfront Lot

      Residential lot on Bayou Sara, Saraland, Alabama.
      00000 Bayou Sara Ave, Saraland, AL 36571
      View Details
    • $299,900
      8.59 Acres

      Unimproved Land on Schillinger Road

      8.6 acres of unrestricted land perfect for new business.
      Schillinger Rd N, Semmes, AL 36575
      View Details
    • $38,000
      2.14 Acres

      Wooded Land with Owner Financing

      2.14 acres in Wilmer, AL with owner financing available.
      Alma Dr, Wilmer, AL 36687
      View Details
    • $180,000
      0.41 Acres

      Twelve Unrestricted Lots in Alabama

      Twelve lots for sale in Eight Mile, Alabama.
      Lott Rd, Mobile, AL 36613
      View Details
    • $63,000
      0.35 Acres

      Commercial Land in Mount Vernon

      Two commercial parcels in growing Mobile County area.
      0000 Highway 43, Mount Vernon, AL 36560
      View Details
    • $234,000
      6.32 Acres

      Mobile Land with Development Potential

      6.3 acres in Mobile, suitable for residential development.
      1028 Oakland Dr, Mobile, AL 36609
      View Details
    • $400,000
      40.86 Acres

      Grand Bay Land Opportunity

      40+/- acres in Grand Bay city limits.
      Warren Creek Rd, Grand Bay, AL 36541
      View Details
    • $129,900
      11.70 Acres

      Waterfront Land in Coden, Alabama

      11.7+/- acres with direct waterfront on Heron Bayou.
      Johnson Rd, Coden, AL 36523
      View Details
    • Contact for pricing
      0.97 Acres

      Unimproved Land in Eight Mile

      Two wooded lots available, sold separately or together.
      Dykes Rd, Mobile, AL 36613
      View Details
    • Contact for pricing
      0.97 Acres

      Residential Land in Eight Mile

      Heavily wooded residential land for sale in Eight Mile, AL.
      Dykes Rd, Mobile, AL 36613
      View Details
    • $90,000
      13.35 Acres

      Unrestricted Land in Citronelle, Alabama

      13.35 +/- acres corner lot, cleared, multiple home sites.
      Beverly Jeffries Hwy, Citronelle, AL 36522
      View Details
    • $200,000
      5.00 Acres

      5 Acre Wooded Land Parcel

      5 acre wooded parcel with high visibility on Hwy 225.
      00000 State Highway 225, Bay Minette, AL 36507
      View Details
    • $148,000
      5.30 Acres

      Unrestricted Acres with Off-Grid Cabin

      5.3 acres with cabin perfect for recreation or hunting.
      32799 Rustic Bnd, Robertsdale, AL 36587
      View Details
    • $65,000
      0.90 Acres

      Lillian, AL Land Opportunity

      0.9 acre lot near Perdido Bay, ideal for building.
      00000 Boykin Blvd, Lillian, AL 36549
      View Details
    • $475,000
      9.00 Acres

      Foley Land for Future Development

      Raw land in South Foley, Alabama, ideal for development.
      0000 Riverwood Dr, Foley, AL 36535
      View Details
    • $155,000
      3.00 Acres

      Unrestricted 3-Acre Parcel in Robertsdale

      3-acre unrestricted land parcel near I-10 in Baldwin County.
      00000 Linholm Rd, Robertsdale, AL 36567
      View Details
    • Contact for pricing
      0.16 Acres

      Residential Lot Near Hank Aaron Park

      Residential lot in Midtown Mobile, near Hank Aaron Park.
      Andrews St, Mobile, AL 36617
      View Details
    • $200,000
      5.00 Acres

      5 Acre Wooded Land Parcel

      5 acre wooded parcel for home or business near Highway.
      State Highway 225, Bay Minette, AL 36507
      View Details
    • $74,000
      0.28 Acres

      Dauphin Island Vacant Lot

      Vacant lot in the heart of Dauphin Island.
      139 Narvaez St, Dauphin Island, AL 36528
      View Details
    • $37,000
      1.33 Acres

      Unrestricted Land in Grand Bay, AL

      Unrestricted 1.33 acre wooded land suitable for mobile home.
      Lawson Rd, Grand Bay, AL 36541
      View Details
    • $300,000
      43.60 Acres

      Unrestricted Land in Semmes, Alabama

      43.595 acres of unrestricted land perfect for building or farming.
      10776 Christopher Ln, Semmes, AL 36575
      View Details
    • $38,000
      1.04 Acres

      Semmes, AL Commercial Land

      Unimproved commercial land in Semmes, Alabama, close to shopping.
      00000 Mccrary Road Ext, Semmes, AL 36575
      View Details

    Leases and Sales on Map

    • For Sale

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    Kennon Henderson, Mobile, AL
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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.

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    Kennon Henderson, Mobile, AL
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