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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1151 Spg Hl Ave Mobile, AL 36604-2725

    • Commercial real estate
    • 34,187 SF
    • 3.09 lot acres
    OFF-MARKET
    Value Estimations
    $3,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1572751
    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

    • Springhill Recreation Center / Family Recreation Center
    • Spring Hill Walking Trail / Park

    Property Details for 1151 Spg Hl Ave

    Lot size
    3.09 lot acres
    Property size
    34,187 SF
    Property type
    Commercial real estate
    APN
    29 06 40 0 009 116.XXX
    APU
    2906400009116XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,797,000
      Market price range: $1.45M - $4.74M
      AI Estimate
      $2,565,000
      Market price range: $1.17M - $4.20M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,885,000
      Current use
      INDUSTRIAL (GENERAL)
      $4,825,000
      Change: +67% Conversion: Moderate
      OFFICE BUILDING
      $3,725,000
      Change: +29% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0623
    Latitude
    30.6905
    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
    $53,900
    $287,460
    $341,360
    -
    $269,500
    $1,437,300
    $1,706,800

    Comparable in this City

    • Value Estimation by Request
      4,084 SF

      1361 Spg Hl Ave

      COMMERCIAL (GENERAL) • 4,084 SF
      1361 Spg Hl Ave, Mobile, AL 36604-3210
      View Details
    • Value Estimation
      $4,930,000
      44,881 SF

      1009 Dauphin St

      COMMERCIAL (GENERAL) • 44,881 SF
      1009 Dauphin St, Mobile, AL 36604-2509
      View Details
    • Value Estimation by Request
      2,955 SF

      1250 Dauphin St

      Commercial real estate • 2,955 SF
      1250 Dauphin St, Mobile, AL 36604
      View Details
    • Value Estimation
      $835,000
      6,480 SF

      1757 Government St

      COMMERCIAL (GENERAL) • 6,480 SF
      1757 Government St, Mobile, AL 36604-1110
      View Details
    • Value Estimation by Request
      2,152 SF

      211 Catherine St

      COMMERCIAL (GENERAL) • 2,152 SF
      211 Catherine St, Mobile, AL 36604-1723
      View Details
    • Value Estimation by Request
      2,226 SF

      1108 Spg Hl Ave

      COMMERCIAL (GENERAL) • 2,226 SF
      1108 Spg Hl Ave, Mobile, AL 36604-2716
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Midtown Office Building For Sale

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      Downtown Mobile Restaurant - Prime Location

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      1,422 SF

      Freestanding NNN Sonic Restaurant

      Single-tenant QSR property with long-term lease and passive income.
      1461 Spring Hill Ave, Mobile, AL 36604
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    • Contact for pricing
      0.28 Acres

      Undeveloped Lot in Mobile, AL

      Undeveloped lot ready for your vision in Mobile, Alabama.
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    • $1,495,000
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      Midtown Mobile Investment Opportunity

      11,000 SF Vacant Building, High Traffic
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Mobile Medical Office Suite 202

      Prime Medical Office Space, Mobile, AL
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    • $14 SF/Yr
      11,200 SF

      Midtown Mobile Office Space Available

      11,200 SF Class A Office Building for Lease
      1668 Government St, Mobile, AL 36604
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    • Contact for pricing
      3,000 SF

      Retail Space in Midtown Mobile

      Retail and pad site opportunities in a neighborhood shopping center.
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    • $15 SF/Yr
      1,250 SF

      Midtown Location with Drive-Thru

      Midtown Mobile location suitable for office or retail with drive-thru.
      1054 Dauphin St, Mobile, AL 36604
      View Details
    • $14 SF/Yr
      1,450 SF

      Retail Space on Spring Hill

      Retail space available in a busy Mobile strip center.
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    • $10,500 /Mo
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      Mobile Warehouse with Covered Dock

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    1151 Spg Hl Ave
    Mobile, AL 36604-2725
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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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