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    2010 Service Rd Mobile, AL 36617
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    2010 Service Rd, Mobile, AL 36617

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    • Office Spaces

    Property Details for 2010 Service Rd

    Property type
    Office Spaces
    Property subtype
    Mobile home & RV parks

    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
    -88.1191
    Latitude
    30.73

    Comparable in this City

    • Value Estimation by Request
      2.50 Acres

      1808 Service Rd

      Land
      1808 Service Rd, Mobile, AL 36617
      View Details
    • Value Estimation by Request
      41,700 SF

      1854 Service Rd

      Distribution properties
      1854 Service Rd, Mobile, AL 36617
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    • Value Estimation by Request

      8,250 SF Retail/Industrial Building For Sale

      8,250 SF Retail/Industrial Building For Sale
      1800 East Interstate 65 Service Rd N, Mobile, AL 36617
      View Details
    • Value Estimation by Request
      1,113 SF

      1806 White Ave

      MOTEL
      1806 White Ave, Mobile, AL 36617
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    • Value Estimation by Request
      3,609 SF

      1808 Pleasant Ave

      MOTEL
      1808 Pleasant Ave, Mobile, AL 36617
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    • Value Estimation by Request
      3,196 SF

      3100 Banks Ave

      WAREHOUSE, STORAGE
      3100 Banks Ave, Mobile, AL 36617-1863
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50,965 SF

      Land Available in Mobile, Alabama

      Land for sale with high visibility on Interstate 65.
      2010 Service Road, Mobile, AL 36617
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      2010 Service Road N, Mobile, AL 36617
      View Details
    • Contact for pricing

      Land Available on I-65

      Land for sale with frontage on I-65 service road.
      1808 Service Road N, Mobile, AL 36617
      View Details
    • Contact for pricing

      Land for Redevelopment

      Land available for redevelopment, sold as-is.
      2419 Brewton Ave, Mobile, AL 36617
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mobile Warehouse with Loading Docks

      Warehouse space featuring multiple loading docks and updated lighting.
      1854 Service Road N, Mobile, AL 36617
      View Details
    • Contact for pricing

      Retail Space in St. Stephens

      Retail space for lease in a busy shopping center.
      2318 St Stephens Rd, Mobile, AL 36617
      View Details
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    2010 Service Rd
    Mobile, AL 36617
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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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