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    Property profile & analytics

    7519 Theodore Dawes Rd Theodore, AL 36582

    • Investment properties
    • 9,033 SF
    • 0.95 lot acres
    For Sale
    View listing
    $735,000
    Last Sale
    May 05, 2025
    $705,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1934873
    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

    • Investment properties

    Property Details for 7519 Theodore Dawes Rd

    Year built
    2005
    Lot size
    0.95 lot acres
    Property size
    9,033 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    33 09 31 3 000 004.XXX
    APU
    3309313000004XXX

    Description

    This single-tenant, 9,016 square foot Dollar General storefront in Theodore, Alabama, presents a compelling investment opportunity. The property boasts a strong 8.08% cap rate and a substantial net operating income (NOI) of $59,400. Currently operating under a Net Lease (NN+) agreement with a corporate guarantee, the lease features three 5-year renewal options, extending the lease term to 2025. The property sits on a 0.95-acre lot with 30 parking spaces and enjoys excellent visibility due to its 127-foot frontage. Built in 2005, the single-story building is situated in an un-zoned county area and benefits from high daily traffic counts of 17,600 vehicles. The tenant, Dollar General, has consistently maintained the property, recently upgrading refrigerated coolers and outdoor lighting in 2023. The asking price is $735,000, translating to $81.52 per square foot. The land value alone is $2.25 per square foot. This property offers a secure, long-term investment with a proven track record and significant upside potential. The lease commenced September 28, 2005, and expires August 31, 2025, leaving approximately 0.8 years remaining on the current term. The property is held in trust.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $645,000
      ML approach
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $889,000
      Market price range: $440k - $1.28M

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

    Location Insight

    • Map
    • Local Demand
    City
    Theodore
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2191
    Latitude
    30.567
    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
    $5,579
    $18,680
    $96,360
    $115,040
    -
    $93,400
    $481,800
    $575,200

    Comparable in this City

    • Value Estimation
      $280,000
      1,504 SF

      6100 Hwy 90

      STORE/OFFICE (MIXED USE) • 1,504 SF
      6100 Hwy 90, Theodore, AL 36582-1812
      View Details
    • Value Estimation
      $295,000
      2,002 SF

      7450 Theodore Dawes Rd

      STORE/OFFICE (MIXED USE) • 2,002 SF
      7450 Theodore Dawes Rd, Theodore, AL 36582-9474
      View Details
    • Value Estimation
      $285,000
      7,114 SF

      5877 Hwy 90

      STORE/OFFICE (MIXED USE) • 7,114 SF
      5877 Hwy 90, Theodore, AL 36582
      View Details
    • Value Estimation
      $270,000
      3,266 SF

      9620 Government Blvd

      STORE/OFFICE (MIXED USE) • 3,266 SF
      9620 Government Blvd, Theodore, AL 36582
      View Details
    • Value Estimation
      $115,000
      2,365 SF

      7293 Bellingrath Rd

      STORE/OFFICE (MIXED USE) • 2,365 SF
      7293 Bellingrath Rd, Theodore, AL 36582
      View Details
    • Value Estimation
      $300,000
      3,030 SF

      7251 Theodore Dawes Rd

      STORE/OFFICE (MIXED USE) • 3,030 SF
      7251 Theodore Dawes Rd, Theodore, AL 36582-4137
      View Details

    Similar Nearby for Sale

    • $735,000
      9,016 SF

      Dollar General Investment Opportunity

      High-traffic West Mobile County retail property.
      7519 Theodore Dawes Rd, Theodore, AL 36582
      View Details
    • $354,374
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      Theodore Waterfront Mixed-Use Property

      Versatile waterfront property, ample space, great location.
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    • $3,650,000
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      Prime Theodore Warehouse - 20,000 SF

      Spacious warehouse, 5.5 acres, ideal for distribution.
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    • $8,900,000
      117,500 SF

      Theodore Industrial Portfolio

      88 Acres, 117,500 SF, Vacant
      4405 Dawes Rd, Theodore, AL 36582
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    • $775,000
      2,701 SF

      Prime Theodore Retail Space

      High-traffic corner lot, 2,701 SF bank building.
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    • Contact for pricing
      0.40 Acres

      I-10 Commercial Land, Mobile, AL

      Seven lots, I-10 visibility, industrial zoned.
      5578 Sermon Rd, Mobile, AL 36582
      View Details

    Similar Nearby for Lease

    • $4,500 /Mo
      6,056 SF

      Theodore Industrial Space For Lease

      6,056 SF industrial space; excellent location.
      5821 I 10 Industrial Pkwy S, Theodore, AL 36582
      View Details
    • $6,500 /Mo
      88,000 SF

      Theodore Industrial Lot Lease

      2.2-acre lot, I-1 zoning, excellent access.
      5900 Middle Rd, Theodore, AL 36582
      View Details
    • $7 SF/Yr
      96,206 SF

      Theodore, AL Industrial Space

      Large industrial space for lease in Theodore, AL.
      5212 Willis Rd, Theodore, AL 36582
      View Details
    • $12 SF/Yr
      2,000 SF

      Prime Theodore Industrial Space

      2,000 SF Flex Space, I-10 Access
      6215 Rangeline Rd, Theodore, AL 36582
      View Details
    • $25,000
      15,000 SF

      Theodore Industrial Build-to-Suit

      9.1-acre lot, flexible build-to-suit options.
      6059 Theodore Dawes Rd, Theodore, AL 36582
      View Details
    • $9 SF/Yr
      7,000 SF

      Rangeline Office/Warehouse Space Available

      Flexible Office/Warehouse in Theodore, AL
      5821 Rangeline Rd, Theodore, AL 36582
      View Details
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    Theodore, AL 36582
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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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