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

    1248 Montlimar Dr Mobile, AL 36609-1711

    • Warehouses
    • 9,030 SF
    • 1.50 lot acres
    OFF-MARKET
    Last Sale
    Oct 23, 2023
    $730,000
    Value Estimations
    $845,000
    Show details
    Cap Rate Potential
    5.8%
    Warehouses
    Location Intelligence
    Property ID
    US03-0382132
    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

    • Eastern Industrial Supplies, Inc. / Pipe Supplier
    • JOHNSTONE SUPPLY / Heating Equipment Supplier

    Property Details for 1248 Montlimar Dr

    Year built
    1999
    Lot size
    1.50 lot acres
    Property size
    9,030 SF
    Property type
    Warehouses
    APN
    28 07 25 3 000 001.13X
    APU
    280725300000113X

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $895,000
      ML approach
      $825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $860,000
      6.5%
      $790,000
      7%
      $735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $802,000
      Market price range: $351k - $894k
      AI Estimate
      $587,000
      Market price range: $210k - $671k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $575,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,275,000
      Change: +122% Conversion: Easy
      OFFICE BUILDING
      $870,000
      Change: +51% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $810,000
      Change: +41% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1342
    Latitude
    30.6636
    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
    $6,659
    $37,800
    $64,420
    $102,220
    -
    $189,000
    $322,100
    $511,100

    Comparable in this City

    • Value Estimation
      $710,000
      32,420 SF

      3665 Cottage Hl Rd

      MINI-WAREHOUSE, STORAGE • 32,420 SF
      3665 Cottage Hl Rd, Mobile, AL 36609
      View Details
    • Value Estimation
      $525,000
      14,339 SF

      1230 Montlimar Dr

      WAREHOUSE, STORAGE • 14,339 SF
      1230 Montlimar Dr, Mobile, AL 36609-1754
      View Details
    • Value Estimation
      $425,000
      6,950 SF

      1201 Hutson Dr

      WAREHOUSE, STORAGE • 6,950 SF
      1201 Hutson Dr, Mobile, AL 36609-1310
      View Details
    • Value Estimation by Request
      15,000 SF

      1206 Montlimar Dr

      WAREHOUSE, STORAGE • 15,000 SF
      1206 Montlimar Dr, Mobile, AL 36609-1756
      View Details
    • Value Estimation
      $390,000
      7,280 SF

      6200 Grelot Rd

      MINI-WAREHOUSE, STORAGE • 7,280 SF
      6200 Grelot Rd, Mobile, AL 36609-3614
      View Details
    • Value Estimation
      $500,000
      3,600 SF

      265 Azalea Rd

      WAREHOUSE, STORAGE • 3,600 SF
      265 Azalea Rd, Mobile, AL 36609-1901
      View Details

    Similar Nearby for Sale

    • $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
      View Details
    • New
      $990,000
      0.80 Acres

      Mobile Office Warehouse Near I-65

      Office warehouse space with loading docks, convenient access to I-65.
      1250 W I-65 Service Rd S, Mobile, AL 36609
      View Details
    • $500,000
      5,000 SF

      Office Building with Warehouse Access

      5,000 SF office building with warehouse and fenced parking.
      4916 Oak Circle Dr N, Mobile, AL 36609
      View Details
    • $375,000
      6,800 SF

      Mobile, AL Office/Warehouse - $375,000

      Versatile 6,800 SF building, ideal for various uses.
      4356 Midmost Dr, Mobile, AL 36609
      View Details
    • $104,000
      0.28 Acres

      Mobile Commercial Land - Grelot Rd.

      Prime West Mobile location; build your business.
      5901 Grelot Rd, Mobile, AL 36609
      View Details
    • $1,100,000
      17,985 SF

      Mobile Storefront Investment Opportunity

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

    Similar Nearby for Lease

    • $10 SF/Yr
      4,000 SF

      Mobile Retail Warehouse Space For Lease

      High-traffic Cottage Hill Rd. location, 4,000 SF.
      3428 Cottage Hill Road, Mobile, AL 36609
      View Details
    • $15 SF/Yr
      42,695 SF

      Gateway Center West: Mobile Flex Space

      Mobile Flex Space: 42,695 SF, 3,345 SF Available
      1201 Montlimar Dr, Mobile, AL 36609
      View Details
    • $6,825 /Mo
      9,100 SF

      Mobile Commercial Space - High Traffic Location

      Versatile Office/Retail/Warehouse Space Available
      3912 Cottage Hill Rd, Mobile, AL 36609
      View Details
    • $5,250 /Mo
      5,250 SF

      Office/Warehouse Space Near I-65

      5,250 SF office/warehouse on 0.83 AC near I-65.
      1467 Montlimar Dr, Mobile, AL 36609
      View Details
    • Contact for pricing
      7,285 SF

      Mobile Office Suites for Lease

      Ready-to-use office spaces in Mobile, AL
      413 Azalea 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
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    Mobile, AL 36609-1711
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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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