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    1615 Cheshire Dr Mobile, AL 36605
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    Property profile & analytics

    1615 Cheshire Dr, Mobile, AL 36605

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    • Residential income homes
    • 13,000 SF
    Off-Market
    Property ID
    US03-3043413
    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

    • Helping Hands Health CARE Llc / Home Health Care Service

    Property Details for 1615 Cheshire Dr

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents an 11-unit single-family rental portfolio located in Mobile, Alabama. The portfolio comprises ten buildings, totaling 13,000 square feet, and boasts 100% occupancy. Each of the eleven units underwent renovations in 2020, ensuring a high-quality rental product. The property currently generates a strong net operating income (NOI) of $107,421, representing an 8.26% capitalization rate. A pro-forma analysis projects an even more impressive NOI of $119,616, translating to a 9.20% capitalization rate, indicating significant upside potential. The portfolio is classified as Class C and offers below-market rents, presenting a compelling opportunity for value appreciation. Individual unit addresses are spread across Mobile County, including 1615 Cheshire Dr W, 605 Crenshaw St, 802 Gorgas St, 958 Gorgas St, 970 Gorgas St, 1208 Congress St, 1555 Cedar Crescent Dr, 2305 Massengale Dr, 6462 Tanner St, and 9551 McLeod Rd, with zip codes ranging from 36603 to 36695. The asking price for this stabilized investment is $1,300,000, or approximately $118,182 per unit, and $100 per square foot. This portfolio represents a rare opportunity to acquire a well-maintained, high-performing rental property in a growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1171239
    Latitude
    30.6372003

    Comparable in this City

    • Contact for pricing

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      Tenant-Occupied Investment Property

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      Riverfront Residential Lots in Mobile, AL

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      Dauphin Island Parkway Level Lot

      Half-acre lot near I-10, potential for business zoning.
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      9,071 SF

      Retail Space Near Interstate 10

      Retail property for lease near I-10 and Mobile Airport.
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      29,366 SF

      Industrial Warehouse with Fenced Yard

      29,366 SF warehouse with office and fenced yard.
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    Similar Nearby for Sale

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      Renovated Multifamily Property in Mobile

      32-unit apartment building with 100% occupancy in Mobile, AL.
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      View Details
    • $114,900
      1,700 SF

      Tenant-Occupied Investment Property

      Turnkey investment property with immediate rental income in Mobile, AL.
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      Waterfront Commercial Lot For Sale

      Commercial lot with road frontage and waterfront access.
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      Waterfront Lot on Dog River

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      Commercial Land on Dauphin Island

      0.81 acre commercial land parcel for sale.
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      Navco Road Land Available

      40.342+/- acres of land for sale on Navco Road.
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    Similar Nearby for Lease

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      129,700 SF

      Warehouse/Office Building with Acreage

      Warehouse/office building on 22.35 acres with fenced area.
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      Commercial Land Near Future Airport

      Land with high visibility near upcoming airport and I-10.
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      Established Shopping Center on Parkway

      Shopping center with high visibility and great access on Dauphin Island.
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    1615 Cheshire Dr
    Mobile, AL 36605
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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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