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    Property profile & analytics

    1956 University Blvd Mobile, AL 36609

    • Strip malls
    • 0.96 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $280,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0931597
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Banyan Electric / Electrician
    • E WING HOUSE / Chicken Wings Restaurant / Chinese Restaurant
    • Ming's Wireless - iPhone Repair Service / Phone Repair Service / Cell Phone Accessory Store
    • Katrina's Grooming Salon / Pet Groomer
    • We Buy Houses in Mobile AL and Baldwin Co. / Real Estate Agency

    Property Details for 1956 University Blvd

    Lot size
    0.96 lot acres
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    28 08 34 4 002 068.004
    APU
    2808344002068004

    Description

    This exceptional retail property, located at 1956 S University Blvd in Mobile, Alabama, presents a unique investment opportunity. The single-story building boasts a substantial 20,466 square feet of entirely vacant space, ready for immediate occupancy. Situated on a generous 2.88-acre lot, the property offers excellent visibility and accessibility. Its prime location at the corner of Cottage Hill and University Boulevard places it within a Walmart Neighborhood Market anchored center, ensuring high traffic and strong consumer presence. The property's single-building structure simplifies management and operation. The building's retail zoning allows for a wide range of commercial uses, making it suitable for various business ventures. With its ample square footage and strategic location in Mobile County, this property is ideal for businesses seeking a prominent presence in a thriving retail market. The property's size and location offer significant potential for growth and return on investment. The address is 1956 S University Blvd, Mobile, AL 36609. The property consists of one building with a total of 20,466 square feet, all currently vacant. The lot size is 2.88 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1622
    Latitude
    30.6508
    CBSA code
    33660
    CBSA name
    MOBILE, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,474
    $13,040
    $88,920
    $101,960
    -
    $65,200
    $444,600
    $509,800

    Comparable in this City

    • Value Estimation
      $3,900,000
      46,602 SF

      4055 Cottage Hl Rd

      SHOPPING CENTER, STRIP CENTER • 46,602 SF
      4055 Cottage Hl Rd, Mobile, AL 36609-4289
      View Details
    • Value Estimation by Request
      95,512 SF

      306 University Blvd

      Neighborhood centers • 95,512 SF
      306 University Blvd, Mobile, AL 36609
      View Details
    • Value Estimation
      $330,000
      920 SF

      462 Azalea Rd

      RESTAURANT • 920 SF
      462 Azalea Rd, Mobile, AL 36609-1653
      View Details
    • Value Estimation
      $345,000
      2,273 SF

      1401 Knollwood Dr

      CONVENIENCE STORE • 2,273 SF
      1401 Knollwood Dr, Mobile, AL 36609-2530
      View Details
    • Value Estimation
      $350,000
      10,770 SF

      3512 Cottage Hl Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 10,770 SF
      3512 Cottage Hl Rd, Mobile, AL 36609-6504
      View Details
    • Value Estimation
      $50,000
      1,781 SF

      5017 Cottage Hl Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,781 SF
      5017 Cottage Hl Rd, Mobile, AL 36609-4204
      View Details

    Similar Nearby for Sale

    • $1,350,000
      15,200 SF

      Mobile Office/Retail Plaza Investment

      Six-unit plaza, leased, strong ROI potential.
      1206 Montlimar Dr, Mobile, AL 36609
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    • $699,000
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      Mobile Event Center - Cottage Hill Rd

      High-traffic retail space, ample parking.
      3920 Cottage Hill Rd, Mobile, AL 36609
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    • $1,100,000
      17,985 SF

      Mobile Storefront Investment Opportunity

      17,985 SF Vacant Retail/Warehouse
      602 Azalea Rd, Mobile, AL 36609
      View Details
    • $899,000
      17,985 SF

      Office Warehouse on Azalea Road

      17,985 SF office warehouse suitable for retail or warehouse uses.
      602 Azalea Rd, Mobile, AL 36609
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    • $120,000
      1,728 SF

      Retail - Mixed Use Opportunity

      Retail space with loft apartment near University Blvd intersection.
      5217 Cottage Hill Rd, Mobile, AL 36609
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    • $695,000
      3,938 SF

      Renovated Restaurant with Owner Financing

      Completely renovated restaurant with new equipment and owner financing.
      257 Azalea Rd, Mobile, AL 36609
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    Similar Nearby for Lease

    • $6 SF/Yr
      95,512 SF

      Regency Square Shopping Center

      Mobile Retail Strip Center: 15,000 SF Available
      306 University Blvd, Mobile, AL 36609
      View Details
    • $10 SF/Yr
      16,521 SF

      Cottage Hill Retail Space Available

      Large retail space, ideal for various uses. High-traffic location.
      5035 Cottage Hill Rd, Mobile, AL 36609
      View Details
    • $15 SF/Yr
      1,200 SF

      University Oaks Retail Space Available

      High-traffic retail space, ideal for various uses.
      1956 S University Blvd, Mobile, AL 36609
      View Details
    • $6 SF/Yr
      15,000 SF

      Mobile Retail Space - 15,000 SF

      High-traffic Mobile retail space available.
      328 - 330 University Blvd S, Mobile, AL 36609
      View Details
    • $15 SF/Yr
      1,365 SF

      Prime Mobile Retail Space Available

      1365 SF Retail Space in High-Traffic Center
      328 - 330 University Blvd S, Mobile, AL 36609
      View Details
    • $15 SF/Yr
      1,200 SF

      Cottage Hill Retail Space Available

      1200 sq ft retail space, Mobile, AL. Great location!
      5035 Cottage Hill Rd, Mobile, AL 36609
      View Details
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    Mobile, AL 36609
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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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