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Property profile & analytics
OFF-MARKET
Estimated value
$1,105,000
Investment properties
2005 Government St Mobile, AL 36606-1629
Entity Owned
Free & Clear
Property ID
US03-0604075
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1992
Total area
10,064 SF
Lot
0.67 ac (29,014 SF)
APN
29 10 28 2 002 004.XXX
UPID
US03-0604075
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mudbugs Restaurant
-
Loop Seafood Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$1.11M
Owner & transaction history
2005 Government Blvd LLC
2005 Government Blvd LLC
since 2025
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.4M
+26.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mobile submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mobile submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,125,000
Current use
INDUSTRIAL (GENERAL)
$1,420,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±10% · vs last sale $1.28M (May 29 2025)
Last sale anchor
$1.28M
May 29 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,593
Tax year 2023
Assessed value
$103,820
Assessed 2023
Previous assessed
$103,820
+0.0% YoY
Effective rate
6.35%
On assessed value
Assessed land
$23,220
Assessed improvement
$80,600
Land market value
$116,100
Improvement market value
$403,000
Total market value
$519,100
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Bathrooms
6
Total area
10,064 SF
Lot
0.67 ac (29,014 SF)
APN
29 10 28 2 002 004.XXX
UPID
US03-0604075
Jurisdiction
MOBILE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
6
Lot
0.67 ac
Current owner
From public records · entity-resolved
2005 Government Blvd LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 6786, MOBILE, AL 36660-0786
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2025
$1,275,000
2005 Government Blvd LLC
James E Devery JR
Deed
—
Sep 20, 2023
—
Rebecca Devery
—
Deed
related
$500,000 · Renasant Bank
Jul 3, 2012
—
James E Devery JR
Regions Bank
Warranty Deed
$275,000 · Bay Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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