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    Property profile & analytics

    Airway Park Dr Mobile, AL 36608

    • Land
    For Sale
    View listing
    $65,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for Airway Park Dr

    Property type
    Land
    Property subtype
    Residential land & home lots

    Description

    • Size: 0.9 AC • 200’ frontage on Airway Park Dr • Zone: B-3 Community Business • Gentle topography • Adjacent to Mobile Regional Airport • 1 mile from Schillinger Rd/Airport Blvd intersection

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    State
    Alabama
    Longitude
    -88.2291
    Latitude
    30.6912

    Comparable in this City

    • Value Estimation by Request

      1.03 Acres Land Pending Sale - East Drive Lot

      1.03 Acres Land Pending Sale - East Drive Lot
      94 East Drive, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      7.4 Acres Land For Sale - Airport West

      7.4 Acres Land For Sale - Airport West
      12181 Airport Blvd, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      1 - 3.4 Acres Land For Sale (NINETEEN LOTS HAVE ALREADY SOLD)

      1 - 3.4 Acres Land For Sale (NINETEEN LOTS HAVE ALREADY SOLD)
      Hampton Ridge Court, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      4.1 AC Hard Corner Development Site For Sale on Airport Blvd!

      Northeast Corner of Airport Blvd and Eliza Jordan Rd
      Northeast Corner of Airport Blvd and Eliza Jordan Rd, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      0.58 Acres Vacant Lot For Sale

      0.58 Acres Vacant Lot For Sale
      0 Schillinger Park Rd, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      1.01 Acres Multi-Functional Property Close to Schillinger

      1.01 Acres Multi-Functional Property Close to Schillinger
      7623 old shell road, Mobile, AL 36608
      View Details

    Similar Nearby for Sale

    • $225,000
      0.45 Acres

      Schillinger Road Corner Lot Investment

      High-traffic corner lot, ready for development.
      152 Schillinger Rd, Mobile, AL 36608
      View Details
    • $850,000
      0.87 Acres

      Prime Mobile Commercial Land

      Airport Blvd. lot, build-to-suit options.
      7400 airport boulevard, Mobile, AL 36608
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    • Contact for pricing
      1.66 Acres

      Mobile Commercial Land Opportunity

      Prime 1.66-acre commercial lot in Mobile, AL
      Airway Park Drive, Mobile, AL 36608
      View Details
    • $589,367
      9.02 Acres

      Mobile, AL Commercial Land - 9 Acres

      Prime 9-acre Mobile, AL commercial tract. Owner financing options available.
      769 Snow Rd, Mobile, AL 36608
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    • $875,000
      0.97 Acres

      Airport Blvd Commercial Land

      Prime Mobile, AL commercial lot; build-to-suit options.
      7400 airport boulevard, Mobile, AL 36608
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    • $762,300
      2.47 Acres

      Airport Blvd Development Site

      Prime 2.5-acre commercial lot, ideal for retail.
      921 Dykes Rd, Mobile, AL 36608
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    Similar Nearby for Lease

    • $125,000
      25,264 SF

      Mobile Commercial Land Lease Opportunity

      High-traffic location, 0.58 acres, $125,000 annually.
      10 N University Blvd, Mobile, AL 36608
      View Details
    • $50,000
      4,500 SF

      Prime Mobile Outparcel Land Lease

      High-visibility land, ideal for retail. 4,500 sq ft, excellent location.
      312 Schillinger Road, Mobile, AL 36608
      View Details
    • $50,000
      50,007 SF

      Prime Mobile, AL Land Lease Opportunity

      1.39-acre lot, high-traffic location.
      5559 Old Shell Rd, Mobile, AL 36608
      View Details
    • $125,000
      238,941 SF

      Prime Mobile, AL Land - Airport Access

      5.5 acres, high-traffic location, near Mobile Regional Airport.
      Airport Boulevard, Mobile, AL 36608
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    • $0.83 SF/Yr

      Prime Mobile Retail Land

      1.39 Acres, High-Traffic Location
      5559 Old Shell Rd, Mobile, AL 36608
      View Details
    • $25,000
      239,580 SF

      Airport Blvd Commercial Land

      Prime 5.5-acre commercial lot near Mobile Regional Airport.
      0 Airport Blvd, Mobile, AL 36608
      View Details
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    Airway Park Dr
    Mobile, AL 36608
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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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