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    5746 Rabbit Creek Dr Theodore, AL 36582
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    5746 Rabbit Creek Dr, Theodore, AL 36582

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    • Mixed-use properties
    • 1,610 SF
    • 1.10 lot acres
    For Sale
    $354,374
    View Listing →
    Theodore Waterfront Mixed-Use Property For Sale
    $354,374
    1,610 SF

    Theodore Waterfront Mixed-Use Property

    Versatile waterfront property, ample space, great location.

    5746 Rabbit Creek Dr, Theodore, AL 36582
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 5746 Rabbit Creek Dr

    Year built
    1952
    Lot size
    1.10 lot acres
    Property type
    Mixed-use properties

    Description

    This exceptional 1,610 sq ft mixed-use property, situated on a 1.1-acre lot in Theodore, AL, presents a unique investment opportunity. Boasting over 29 feet of waterfront access on the Dog River and 746 feet of road frontage on Rangeline Road, this property offers unparalleled versatility. The existing structure combines residential and commercial spaces seamlessly. The residence features three bedrooms and one bathroom, with an open-concept kitchen, dining, and living area highlighted by a stone wall and beamed ceilings. Stainless steel appliances and updated vinyl flooring in the kitchen and living areas add modern appeal. Two sliding glass doors lead to outdoor spaces, including a patio with a hot tub and a gazebo within a small fenced area. A large fenced backyard provides ample space. The commercial component includes two workshops equipped with office areas, a half-bathroom, two bay doors, two car lifts, and a spray shop—currently utilized as an auto body shop. Recent updates include a new hot water heater and septic tank pumping (2024). The property's prime location near the interstate and at the corner of Rangeline and Rabbit Creek Drive offers excellent visibility and accessibility. The seller is considering offers within a range of $354,900 to $374,900. This property's diverse functionality makes it ideal for a variety of uses, including but not limited to an auto body shop, restaurant, or bait shop. The possibilities are truly endless. A covered dock and pier complete this remarkable offering.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Theodore
    County
    Mobile - AL
    State
    Alabama
    Longitude
    -88.1331
    Latitude
    30.5718

    Comparable in this City

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      5791 Swedetown N Rd

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      7484 Gdn Grv Dr

      STORE/OFFICE (MIXED USE)
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    • Value Estimation
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      5832 Hwy 90

      STORE/OFFICE (MIXED USE)
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      View Details

    Similar Nearby for Sale

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      Theodore Mixed-Use Property For Sale

      Mixed-use property available in Theodore, Alabama.
      8053 Old Cherry Dr N, Theodore, AL 36582
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    • $354,374
      1,610 SF

      Theodore Waterfront Mixed-Use Property

      Versatile waterfront property, ample space, great location.
      5746 Rabbit Creek Dr, Theodore, AL 36582
      View Details
    • Contact for pricing
      8,000 SF

      8,000 SF Freestanding Building

      Freestanding building suitable for retail, office, storage, or flex uses.
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    • $2,600,000
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      Prime Theodore Industrial Land

      26.5-acre site, rail access, I-10 corridor.
      4079 Hamilton Blvd, Theodore, AL 36582
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      Commercial Lot on Rangeline Road

      2.22 acre commercial lot with 800 ft frontage.
      6570 Rangeline Rd, Theodore, AL 36582
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    Similar Nearby for Lease

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      Land Available For Lease

      Land available for lease in Theodore, Alabama.
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      View Details
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      9,525 SF

      Retail Center Space For Lease

      Retail spaces available in Theodore, Alabama with ample parking.
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      3,300 SF

      Retail Spaces on Old Pascagoula

      Three retail suites available for lease, can be combined.
      6105 Old Pascagoula Rd, Theodore, AL 36582
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    • $4,500 /Mo
      6,056 SF

      Theodore Industrial Space For Lease

      6,056 SF industrial space; excellent location.
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    • $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
    • Contact for pricing

      Neighborhood Retail Strip Center Space

      Retail spaces available in neighborhood strip center.
      5879 Highway 90, 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.

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