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    Property profile & analytics

    1111 Government St Mobile, AL 36604

    • Turn key restaurants
    • 5,444 SF
    • 1.04 lot acres
    For Sale
    View listing
    $845,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0036204
    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

    • Saucy Q Bar B Que / Barbecue Restaurant / Bar

    Property Details for 1111 Government St

    Year built
    1993
    Lot size
    1.04 lot acres
    Property size
    5,444 SF
    Property type
    Turn key restaurants
    APN
    29 06 39 0 004 060.XXX
    APU
    2906390004060XXX

    Description

    This exceptional turnkey restaurant opportunity is located at 1111 Government Street in Mobile, Alabama, within the vibrant Oakleigh Garden District. The property boasts a substantial 5,220 square feet of space, previously occupied by the well-known Saucy Q BBQ restaurant, offering immediate brand recognition within the community. The building is situated on a generous 46,060 square foot lot, providing ample parking – a rare and valuable asset in the downtown area. The asking price is $995,999, translating to $190.80 per square foot. The single-story building is zoned B2 and features a layout well-suited for restaurant operations. The interior includes a large seating area, multiple televisions ideal for game-day viewing, and a dedicated private dining area perfect for special events or private parties. This property presents a unique chance to acquire a fully equipped restaurant in a prime downtown location with built-in customer familiarity and a significant parking advantage. The property's history and location within the historic Oakleigh Garden district offer a compelling combination of established presence and desirable neighborhood appeal. This is an owner/user investment opportunity not to be missed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $519,000
      Market price range: $390k - $1.87M
      AI Estimate
      $446,000
      Market price range: $446k - $985k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0604
    Latitude
    30.6836
    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
    $5,625
    $27,260
    $57,700
    $84,960
    -
    $136,300
    $288,500
    $424,800

    Comparable in this City

    • Value Estimation
      $280,000
      3,446 SF

      916 Charleston St

      RESTAURANT • 3,446 SF
      916 Charleston St, Mobile, AL 36604-3025
      View Details
    • Value Estimation
      $335,000
      2,703 SF

      966 Government St

      RESTAURANT • 2,703 SF
      966 Government St, Mobile, AL 36604-2402
      View Details
    • Value Estimation
      $990,000
      3,982 SF

      351 George St

      RESTAURANT • 3,982 SF
      351 George St, Mobile, AL 36604-3123
      View Details
    • Value Estimation
      $260,000
      2,757 SF

      1150 Spg Hl Ave

      RESTAURANT • 2,757 SF
      1150 Spg Hl Ave, Mobile, AL 36604-2726
      View Details
    • Value Estimation
      $260,000
      1,546 SF

      1252 Government St

      RESTAURANT • 1,546 SF
      1252 Government St, Mobile, AL 36604-2434
      View Details
    • Value Estimation
      $310,000
      3,852 SF

      1455 Monroe St

      RESTAURANT • 3,852 SF
      1455 Monroe St, Mobile, AL 36604-1942
      View Details

    Similar Nearby for Sale

    • $845,000
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      Downtown Mobile Restaurant - Prime Location

      Historic BBQ Restaurant, Fully Equipped, 5,220 SF
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    • $1,150,000
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      Freestanding NNN Sonic Restaurant

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      Prime Development Land For Sale

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      Midtown Office Building For Sale

      Midtown office building with renovation potential and high visibility.
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    Similar Nearby for Lease

    • $15 SF/Yr
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      Midtown Mobile location suitable for office or retail with drive-thru.
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      Mobile Medical Office Suite 202

      Prime Medical Office Space, Mobile, AL
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    • $50,000
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      Retail Space in Midtown Mobile

      Retail and pad site opportunities in a neighborhood shopping center.
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    • $18 SF/Yr
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      Retail Space in Midtown Mobile

      Retail space for lease in the heart of Mobile.
      1812 Old Shell Rd, Mobile, AL 36604
      View Details
    • $14 SF/Yr
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      Retail Space on Spring Hill

      Retail space available in a busy Mobile strip center.
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      View Details
    • $18 SF/Yr
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      Retail Space on Ann Street

      Retail space available in a well-located building.
      119 S Ann St, Mobile, AL 36604
      View Details
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    1111 Government St
    Mobile, AL 36604
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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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