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    Property profile & analytics

    123 Park Dr Mobile, AL 36606

    • Manufacturing properties
    • 20,563 SF
    • 0.87 lot acres
    OFF-MARKET
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0618903
    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

    • Manufacturing properties

    Property Details for 123 Park Dr

    Year built
    1985
    Lot size
    0.87 lot acres
    Property size
    20,563 SF
    Property type
    Manufacturing properties
    APN
    22 02 09 4 000 006.006
    APU
    2202094000006006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $393,000
      Market price range: $393k - $1.50M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0756
    Latitude
    30.7977
    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
    $3,737
    $7,740
    $55,060
    $62,800
    -
    $38,700
    $275,300
    $314,000

    Comparable in this City

    • Value Estimation
      $600,000
      89,236 SF

      2400 Emogene St

      MANUFACTURING (LIGHT) • 89,236 SF
      2400 Emogene St, Mobile, AL 36606-1818
      View Details
    • Value Estimation by Request
      1,107 SF

      2715 Dauphin St

      FACTORY (MANUFACTURING) • 1,107 SF
      2715 Dauphin St, Mobile, AL 36606-4801
      View Details
    • Value Estimation
      $1,105,000
      61,906 SF

      3107 Halls Ml Rd

      MANUFACTURING (LIGHT) • 61,906 SF
      3107 Halls Ml Rd, Mobile, AL 36606-2506
      View Details
    • Value Estimation
      $330,000
      4,484 SF

      2700 Dauphin St

      WAREHOUSE, STORAGE • 4,484 SF
      2700 Dauphin St, Mobile, AL 36606-4803
      View Details
    • Value Estimation
      $315,000
      4,278 SF

      511 Houston St

      WAREHOUSE, STORAGE • 4,278 SF
      511 Houston St, Mobile, AL 36606-4308
      View Details
    • Value Estimation
      $1,420,000
      4,800 SF

      22 Florida St

      WAREHOUSE, STORAGE • 4,800 SF
      22 Florida St, Mobile, AL 36606-1922
      View Details

    Similar Nearby for Sale

    • $1,800,000
      39,000 SF

      Mobile, AL Trucking Facility

      39,000 SF Warehouse on 3 Acres
      2260 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $1,500,000
      20,069 SF

      Mobile Industrial Property: Value-Add Opportunity

      20,069 SF Multi-Tenant Manufacturing/Warehouse
      10 Springdale Blvd, Mobile, AL 36606
      View Details
    • $1,500,000
      37,952 SF

      Mobile Warehouse/Retail Space

      Prime I-65 location, 20,069 SF, high-income potential.
      10 Springdale Blvd, Mobile, AL 36606
      View Details
    • $225,000
      52,272.00 Acres

      Mobile Industrial Property: 3200 SF & 1.2 Acres

      Versatile Mobile industrial building, 3200 sq ft, 1.2 acres, lease option.
      2155 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $220,000

      Metal Building on Large Parcel

      1,700 SF metal building on 3.43 AC parcel.
      3221 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $1,800,000
      12.00 Acres

      Mobile Industrial Land - 12 Acres

      Prime Mobile location, B-3 zoning, excellent visibility.
      2243 Halls Mill Rd, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      5,012 SF

      Iconic Commercial Building For Lease

      5,012 SF commercial building with redevelopment and flex use potential.
      408 Dauphin Island Pkwy, Mobile, AL 36606
      View Details
    • $10 SF/Yr
      10,800 SF

      Mobile Industrial Space - 10,800 SF

      Versatile Mobile warehouse, ideal for diverse industrial uses.
      3347 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $4,725 /Mo
      7,500 SF

      Mobile Office/Warehouse Gem

      Prime 7,500 SF space, ideal for various uses.
      2499 Eslava Creek Pkwy, Mobile, AL 36606
      View Details
    • $10 SF/Yr
      13,479 SF

      Mobile Warehouse - 13,479 SF

      Spacious Mobile warehouse, ideal for various uses.
      69 Sidney Phillips Dr, Mobile, AL 36606
      View Details
    • $8 SF/Yr
      6,286 SF

      Mobile Office/Warehouse Space

      6,286 sq ft, I-65 proximity, high traffic
      3168 Midtown Park, Mobile, AL 36606
      View Details
    • $3 SF/Yr
      37,000 SF

      Mobile Warehouse: 37,000 SF Lease

      Large Mobile warehouse space available. Ideal for distribution.
      2694 Government Blvd, Mobile, AL 36606
      View Details
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    123 Park Dr
    Mobile, AL 36606
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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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