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    11 Water St Mobile, AL 36602-3809

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    11 Water St Mobile, AL 36602-3809

    View on Map
    • Office buildings
    • 466,683 SF
    • 2.47 lot acres
    Off-Market
    Property ID
    US03-0731965
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bea Stefany L / Law Firm
    • Darnely Cooper Lisa / Law Firm
    • Legal Evidence Corp / IT Consulting Firm / Tech Support Center
    • Lemoine Law Firm / Law Firm
    • Mc Gowin T Bruce / Law Firm

    Property Details for 11 Water St

    Year built
    2007
    Lot size
    2.47 lot acres
    Property size
    466,683 SF
    Property type
    Office buildings
    APN
    29 06 40 0 002 195.XXX
    APU
    2906400002195XXX

    Description

    Located on the 10th floor of Mobile's tallest building, this Class A office space offers breathtaking city views. The 13,086 square foot building features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. Renovated in 2019, the building includes elevators and offers a variety of flexible workspace options, including fully furnished private offices, customizable to suit individual business needs. Coworking spaces are designed for collaboration, and state-of-the-art meeting rooms are available, complete with technological amenities and catering services. Virtual office solutions are also provided, encompassing mail forwarding and call answering services. Flexible membership options cater to diverse work styles, granting access to a global network of workspaces. The building's central location within a thriving business community provides easy access to the Conde Charlotte Museum and Exploreum Science Centre, both less than a mile away. Pricing is variable, depending on the chosen services and space requirements. This property is ideal for businesses seeking a prestigious address and adaptable workspace solutions in the heart of Mobile, Alabama.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $56,258,000
      Market price range: $17.1M - $56.3M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $82,935,000
      Current use
      RESTAURANT
      $93,205,000
      Change: +12% Conversion: Moderate
      MEDICAL BUILDING
      $90,125,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0383
    Latitude
    30.676
    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
    $0.00
    $269,000
    $70,595,820
    $70,864,820
    -
    $1,345,000
    $352,979,100
    $354,324,100

    Comparable in this City

    • Value Estimation
      $740,000
      5,820 SF

      700 Government St

      OFFICE BUILDING • 5,820 SF
      700 Government St, Mobile, AL 36602-1403
      View Details
    • Value Estimation by Request
      3,718 SF

      801 Spg Hl Ave

      OFFICE BUILDING • 3,718 SF
      801 Spg Hl Ave, Mobile, AL 36602-1311
      View Details
    • Value Estimation by Request
      2,104 SF

      200 Royal St

      OFFICE BUILDING • 2,104 SF
      200 Royal St, Mobile, AL 36602-3924
      View Details
    • Value Estimation by Request
      2,578 SF

      164 Saint Emanuel St

      OFFICE BUILDING • 2,578 SF
      164 Saint Emanuel St, Mobile, AL 36602-3007
      View Details
    • Value Estimation
      $905,000
      7,491 SF

      14 Franklin St

      OFFICE BUILDING • 7,491 SF
      14 Franklin St, Mobile, AL 36602-2409
      View Details
    • Value Estimation by Request
      2,360 SF

      108 Claiborne St

      OFFICE BUILDING • 2,360 SF
      108 Claiborne St, Mobile, AL 36602-2313
      View Details

    Similar Nearby for Sale

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      Downtown Mobile Office Building

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      Downtown Mobile Historic Office Building

      Historic two-story office building in Downtown Mobile for sale.
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      5,073 SF

      Historic Office Building in Downtown

      Historic office building with convenient access to Government Plaza.
      205 Church St, Mobile, AL 36602
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    • Contact for pricing
      5,073 SF

      Historic Office Building in Downtown

      Historic office building with convenient access to Government Plaza.
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    Similar Nearby for Lease

    • $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
    • $2,500 /Mo
      1,540 SF

      Historic Mobile Office Space For Lease

      Charming 1,540 sq ft office, Mobile, AL.
      156 S Lawrence St, Mobile, AL 36602
      View Details
    • $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
      View Details
    • $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
      View Details
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    11 Water St
    Mobile, AL 36602-3809
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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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    11 Water St, Mobile, AL, 36602

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