Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    892 Grant Park Dr Mobile, AL 36606

    Sponsored
    For Sale
    $45,000

    LAND - Mobile, AL

    Type:Single Family Residence
    Lot size:
    0.15 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 2 at 6:06 pm

    Property Features for 892 Grant Park Dr

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    R-1
    APN
    2909301000138043
    Lot size
    0.15 Acres

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    Peggy Lents

    Roberts Brothers, Inc. (251) 344-9220

    Listing agent Peggy Lents (251) 767-1239

    Listing date Jan 31, 2026

    MLS# 7711978 Listing URL

    Copyright © 2026 Mobile Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Midtown Mobile

    This level, build-ready homesite is located in an upscale Midtown neighborhood. The property is situated in a beautifully established community with a limited number of remaining lots. Architectural guidelines are in place to create a cohesive, elegant streetscape of French Country-inspired homes. Homes in the subdivision range from 1,325 to 2,500 square feet. The location offers convenience, with proximity to shopping, restaurants, malls, entertainment, and public transportation. Quick access to I-65 is available. Community features include sidewalks, streetlights, and underground utilities. The HOA maintains front lawns. The lot size is 0.146 acres. The zoning is R-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.110217
    Latitude
    30.673722

    Nearby Similar for Sale

    • $899,900
      5,409 SF

      Freestanding Medical Office on Hillcrest

      Medical office building on high-traffic Hillcrest Road.
      1605 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $194,000
      0.29 Acres

      Multifamily Property in Eight Mile

      Investment opportunity with three units and long-term tenants.
      4572 Myers Rd, Mobile, AL 36613
      View Details
    • New
      $390,000
      1,000 SF

      New Construction Duplex in Mobile

      New construction duplex with modern finishes and warranty coverage.
      3475 Denmark Rd, Mobile, AL 36618
      View Details
    • $475,000
      5,345 SF

      Commercial Property with Established Tenant

      Commercial property housing a medical prosthetic company for sale.
      805 Downtowner Loop W, Mobile, AL 36609
      View Details
    • $725,000
      7,500 SF

      Updated Office Complex in Mobile

      Income-producing office complex in desirable West Mobile commercial corridor.
      1100 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $529,000
      2,208 SF

      Updated Commercial Office Building

      Versatile commercial office space in Midtown Mobile.
      1962 Spring Hill Ave, Mobile, AL 36607
      View Details
    • $425,000
      1,350 SF

      Updated Commercial Building with Metal Building

      Versatile commercial building with offices, conference room, and metal building.
      7970 Tanner Williams Rd, Mobile, AL 36608
      View Details
    • $169,900
      2,275 SF

      Former Restaurant Building on Demetropolis

      Restaurant building with equipment, high traffic, and flexible space.
      3450 Demetropolis Rd, Mobile, AL 36693
      View Details
    • $900,000
      0.35 Acres

      Six-Unit Multifamily Investment Opportunity

      Six-unit multifamily property with expansion potential in a desirable location.
      8758 Tanner Williams Rd, Mobile, AL 36608
      View Details
    • $449,900
      3,924 SF

      Venue Building Near Airport Boulevard

      Commercial building near Airport Blvd, currently operating as a venue.
      9940 Lifeline Ct, Mobile, AL 36608
      View Details
    • $1,575,000
      4,358 SF

      Schillinger Road Commercial Opportunity

      5.66-acre commercial property with a 4,358 SF building.
      751 Schillinger Rd N, Mobile, AL 36608
      View Details
    • New
      $260,000
      0.20 Acres

      Three-Unit Multifamily Property

      Three-unit property with steady rental income in Mobile, Alabama.
      109 Carlen St S, Mobile, AL 36606
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready homesite in established Midtown neighborhood, convenient to everything.
    Where is this residential land & home lot located?
    The property is located at 892 Grant Park Dr Mobile, AL.
    What is the asking price?
    The asking price for this property is $45,000.
    What are key features of this property?
    This property features: - Build-ready, level homesite in an upscale Midtown location with limited lots available.; - Conveniently located minutes from shopping, restaurants, entertainment, public transportation, and I-65.; - HOA maintained front lawns for low-maintenance living.
    (251) 767-1239
    Request Owner's contact information
    892 Grant Park Dr Mobile, AL 36606
    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.
    892 Grant Park Dr
    Mobile, AL 36606
    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
    892 Grant Park Dr Mobile, AL 36606
    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

    We can help!
    Listing Contact
    Peggy Lents
    (251) 767-1239
    Learn more
    Google sign-in failed. Please try again or use another login method.