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    Property profile & analytics

    108 I-65 Service Rd Mobile, AL 36607

    • Warehouses
    • 28,000 SF
    • 4.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 108 I-65 Service Rd

    Lot size
    4.00 lot acres
    Property size
    28,000 SF
    Property type
    Warehouses
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional Mobile, Alabama property, located at 108 W I-65 Service Rd N, presents a unique investment opportunity. The 28,000 square foot building sits on a 4-acre lot and is zoned B-3, General Business City of Mobile. Previously used as an auto body facility, the structure offers a versatile layout ideal for a variety of commercial uses. The building features approximately 5,400 square feet of showroom/office space and 23,600 square feet of shop/warehouse area. Constructed of pre-engineered metal, the building is durable and well-maintained. All utilities are available on-site. The asking price is $2,900,000. This property is perfect for businesses seeking a combination of office and warehouse space in a high-traffic location with excellent access to I-65. The substantial lot size offers ample room for expansion or future development. Serious inquiries only. The property is offered as a Net Net lease.

    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
    -88.1145
    Latitude
    30.7041

    Comparable in this City

    • Value Estimation by Request
      29,000 SF

      108 Service Rd

      Distribution properties • 29,000 SF
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    • Value Estimation
      $300,000
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      2737 Ml St

      WAREHOUSE, STORAGE • 1,586 SF
      2737 Ml St, Mobile, AL 36607-1606
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    • Value Estimation
      $1,700,000
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      703 Western Dr

      WAREHOUSE, STORAGE • 26,978 SF
      703 Western Dr, Mobile, AL 36607-1406
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    • Value Estimation
      $185,000
      1,093 SF

      3200 Old Shell Rd

      WAREHOUSE, STORAGE • 1,093 SF
      3200 Old Shell Rd, Mobile, AL 36607-2505
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    • Value Estimation
      $145,000
      4,040 SF

      2891 Ml St

      WAREHOUSE, STORAGE • 4,040 SF
      2891 Ml St, Mobile, AL 36607-1919
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    • Value Estimation
      $475,000
      15,522 SF

      2872 Ml St

      WAREHOUSE, STORAGE • 15,522 SF
      2872 Ml St, Mobile, AL 36607-1920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      but would also be almost \""move-in ready\"" as a dental office

      veterinary office or something similar. This office currently consists of 3 exam rooms and two separate private office for the doctor\/providers. The waiting area for patients is very welcoming and accommodating with separate restrooms. There is a front desk area and an employee break room with a restroom. Separate patient restrooms. There is also a nurse's station and additional storage. Seller is willing to sell this property with all components and medical equipment or open to selling the property\/building without the components and medical equipment. This is the perfect commercial spot for the local midtown residents and also gets some overflow of ER patients as it is in very close proximity to the hospital. Information entered in the MLS is provided \""as is\"": for informational purposes only
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      Versatile commercial office space in Midtown Mobile, recently updated.
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    Similar Nearby for Lease

    • $78 SF/Yr
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      Industrial complex with easy access to Interstate 65.
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      Mobile, AL Warehouse Space For Lease

      Large warehouse distribution space available. Excellent location.
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    Mobile, AL 36607
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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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