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    Property profile & analytics

    67 St Michael St Mobile, AL 36602

    • Specialty properties
    For Sale
    View listing
    $225,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 67 St Michael St

    Property type
    Specialty properties
    Property subtype
    Office Properties & Spaces

    Description

    Total Building Size: Lot Size: 2,926± SF 2,937± SF • 40± SF of frontage on St. Michael St. • Backs up to the historic First National Bank building (also for sale) which would be a great spot for an additional development or more parking • Perfect redevelopment site for multi-family, commercial or parking lot for surrounding building • Superior location Downtown Mobile • Walking distance to all the restaurants, shopping, businesses and events Downtown has to offer

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    State
    Alabama
    Longitude
    -88.0464
    Latitude
    30.6922

    Comparable in this City

    • Value Estimation by Request
      11,000 SF

      755 Government St

      Office space • 11,000 SF
      755 Government St, Mobile, AL 36602
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    • Value Estimation by Request
      58,000 SF

      351 St Francis St

      Specialty properties • 58,000 SF
      351 St Francis St, Mobile, AL 36602
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    • Value Estimation by Request
      22,940 SF

      800 St Louis St

      Schools • 22,940 SF
      800 St Louis St, Mobile, AL 36602
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    • Value Estimation by Request

      508 Dauphin St

      Restaurants
      508 Dauphin St, Mobile, AL 36602
      View Details
    • Value Estimation by Request
      31,538 SF

      104 St Francis St

      Coworking space • 31,538 SF
      104 St Francis St, Mobile, AL 36602
      View Details
    • Value Estimation by Request
      15,000 SF

      558 St Francis St

      Office space • 15,000 SF
      558 St Francis St, Mobile, AL 36602
      View Details

    Similar Nearby for Sale

    • $2,200,000
      22,940 SF

      Historic Mobile Building - Redevelopment Opportunity

      Prime Mobile location, 22,940 SF, historic building.
      800 Saint Louis St, Mobile, AL 36602
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    • $675,000
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      Downtown Mobile Office Building

      Prime location, renovated space, high potential
      157 Dauphin St, Mobile, AL 36602
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    • $689,000
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      Historic Downtown Mobile Office Building

      Prime location, 5,073 SF, historic charm.
      205 Church St, Mobile, AL 36602
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    • $595,000
      3,666 SF

      Prime Mobile Office Building

      Historic Charm, Modern Updates, High Income
      507 Church St, Mobile, AL 36602
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    • $2,200,000
      13,200 SF

      Downtown Mobile Mixed-Use Gem

      Historic 13,200 SF building, prime location.
      558 Saint Francis Street, Mobile, AL 36602
      View Details
    • $2,200,000
      22,940 SF

      Mobile School Redevelopment Opportunity

      Historic School Building, 22,940 SF
      800 St Louis St, Mobile, AL 36602
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      1,341 SF

      Downtown Mobile Office Suite 3003

      Modern 1341 sq ft office, prime downtown location.
      150 Government St, Mobile, AL 36602
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    • $19 SF/Yr
      2,584 SF

      Prime Mobile Office Sublease Opportunity

      Modern 2,584 SF Office, Sublease Available
      1 St Louis St, Mobile, AL 36602
      View Details
    • $2,800 /Mo
      2,000 SF

      Downtown Mobile Office Space - Suite 4

      Prime 2,000 sq ft office, stunning city views.
      1 S Royal St, Mobile, AL 36602
      View Details
    • $16 SF/Yr
      6,900 SF

      Downtown Mobile Commercial Space

      6,900 SF Office, Retail, Showroom - For Sale/Lease
      63 S Dearborn St, Mobile, AL 36602
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    • $16 SF/Yr
      1,600 SF

      Mobile Office Space - 1600 SF

      Modern Loft Office, Downtown Mobile
      558 Saint Francis Street, Mobile, AL 36602
      View Details
    • $10 SF/Yr
      3,800 SF

      Downtown Mobile Office Space

      3800 sq ft office, prime location, NNN lease.
      107 South Bayou Street, Mobile, AL 36602
      View Details
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    67 St Michael St
    Mobile, AL 36602
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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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