Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1862 Government St, Unit 1 Mobile, AL 36606-1624

    • Commercial land
    • 3,117 SF
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2020
    $2,496,700
    Value Estimations
    $2,855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0026235
    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

    • PitStop Carwash / Car Wash / Car Detailing Service

    Property Details for 1862 Government St

    Year built
    2009
    Lot size
    0.53 lot acres
    Property size
    3,117 SF
    Property type
    Commercial land
    APN
    29 10 21 3 000 025.XXX
    APU
    2910213000025XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,270,000
      ML approach
      $3,145,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0835
    Latitude
    30.6775
    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
    $5,913
    $26,740
    $64,540
    $91,280
    -
    $133,700
    $322,700
    $456,400

    Comparable in this City

    • Value Estimation by Request

      6,142 SF Fenced Lot For Sale near Intersection of Halls Mill & DIP

      6,142 SF Fenced Lot For Sale near Intersection of Halls Mill & DIP
      2007 Halls Mill Road, Mobile, AL 36606
      View Details
    • Value Estimation by Request

      4.0+ Acre Versatile Development Tract near McGowin Park Shopping Mall For Sale

      4.0+ Acre Versatile Development Tract near McGowin Park Shopping Mall For Sale
      2910 Halls Mill Rd, Mobile, AL 36606
      View Details
    • Value Estimation by Request
      0.30 Acres

      601 Houston St

      VACANT COMMERCIAL LAND • 0.30 Acres
      601 Houston St, Mobile, AL 36606-4305
      View Details
    • Value Estimation by Request
      0.15 Acres

      7 Houston St

      VACANT COMMERCIAL LAND • 0.15 Acres
      7 Houston St, Mobile, AL 36606
      View Details
    • Value Estimation by Request
      0.18 Acres

      International Dr

      VACANT COMMERCIAL LAND • 0.18 Acres
      International Dr, Mobile, AL 36606
      View Details
    • Value Estimation by Request
      0.16 Acres

      305 Little Flower Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      305 Little Flower Ave, Mobile, AL 36606
      View Details

    Similar Nearby for Sale

    • $399,000
      2.50 Acres

      Mobile Office/Medical Land - 2.5 Acres

      Prime Mobile location, near Bel Air Mall & I-65. Ideal for medical, office, or other uses.
      3100 Cottage Hill Road, Mobile, AL 36606
      View Details
    • $39,900

      Commercial Land in Midtown Mobile

      Cleared commercial land in midtown Mobile, zoned B3.
      771 Holcombe Ave, Mobile, AL 36606
      View Details
    • $55,000

      Corner Lot in Central Mobile

      0.33 AC corner lot zoned B-1 in Mobile, AL.
      840 Executive Park Dr, Mobile, AL 36606
      View Details
    • $45,000
      0.28 Acres

      Commercial Lot Ready For Development

      Commercial lot suitable for an office building in a central location.
      832 Executive Park Dr, Mobile, AL 36606
      View Details
    • Contact for pricing
      0.14 Acres

      Fenced Lot Near Intersection

      Fenced lot near Halls Mill Rd & Dauphin Island Parkway.
      2007 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $1,800,000

      Commercial Land For Sale

      Commercial land suitable for distribution, storage, or light manufacturing.
      2243 Halls Mill Rd, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      886,359 SF

      Mobile Industrial Land - 16 Acres

      Large industrial lot with office space; ideal for distribution.
      2223 Halls Mill Rd, Mobile, AL 36606
      View Details
    • $25,000
      28,307 SF

      Dauphin Street Land Lease Opportunity

      Prime Mobile, AL land for lease; ideal for various uses.
      3081 Dauphin St, Mobile, AL 36606
      View Details
    • $12 SF/Yr
      15,074 SF

      Dauphin Street Retail Space Available

      High-traffic retail space in Mobile, AL.
      3170 Dauphin St, Mobile, AL 36606
      View Details
    • $18 SF/Yr
      1,102 SF

      Dauphin Street Office Suite Available

      Modern Mobile, AL office space for lease.
      3280 Dauphin St, Mobile, AL 36606
      View Details
    • $16 SF/Yr
      7,285 SF

      Midtown Mobile Office Space For Sale/Lease

      7,285 SF Office; Ample Parking; July 2024 Availability
      3213 Executive Park Cir, Mobile, AL 36606
      View Details
    • $35,000
      3,284 SF

      Executive Suites: Mobile, AL

      Prime Mobile Office Space - Sale/Lease
      725 Executive Park Dr, Mobile, AL 36606
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1862 Government St, Unit 1
    Mobile, AL 36606-1624
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.