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

    2040 Schillinger S Rd Mobile, AL 36695-4171

    • Amusement parks
    • 11,527 SF
    • 1.57 lot acres
    OFF-MARKET
    Last Sale
    Feb 06, 2025
    $950,000
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-3092631
    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

    • Pete's Party Castle / Event Planning

    Property Details for 2040 Schillinger S Rd

    Year built
    2004
    Lot size
    1.57 lot acres
    Property size
    11,527 SF
    Property type
    Amusement parks
    APN
    27 07 36 4 000 024.002
    APU
    2707364000024002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $616,000
      Market price range: $216k - $914k
      AI Estimate
      $552,000
      Market price range: $224k - $795k

    • Alternative Use

      Use
      Estimation
      RECREATIONAL/ENTERTAINMENT (GENERAL)
      $520,000
      Current use
      WAREHOUSE, STORAGE
      $735,000
      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
    -88.2256
    Latitude
    30.6485
    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
    $12,106
    $53,240
    $196,360
    $249,600
    -
    $266,200
    $981,800
    $1,248,000

    Comparable in this City

    • Value Estimation by Request
      11,277 SF

      1121 Dawes Rd

      ARCADES (AMUSEMENT) • 11,277 SF
      1121 Dawes Rd, Mobile, AL 36695-9143
      View Details
    • Value Estimation
      $1,685,000
      5,150 SF

      7078 Bruns Dr

      ARCADES (AMUSEMENT) • 5,150 SF
      7078 Bruns Dr, Mobile, AL 36695-4329
      View Details
    • Value Estimation by Request
      806 SF

      1355 Snow S Rd

      ARCADES (AMUSEMENT) • 806 SF
      1355 Snow S Rd, Mobile, AL 36695-8577
      View Details
    • Value Estimation
      $2,145,000
      71,954 SF

      842nd Schillinger S Rd

      ARCADES (AMUSEMENT) • 71,954 SF
      842nd Schillinger S Rd, Mobile, AL 36695-8927
      View Details
    • Value Estimation by Request
      6,000 SF

      9795 Mcleod Rd

      RECREATIONAL, ENTERTAINMENT • 6,000 SF
      9795 Mcleod Rd, Mobile, AL 36695-8832
      View Details
    • Value Estimation by Request
      4,020 SF

      9014 Johnson S Rd

      RECREATIONAL, ENTERTAINMENT • 4,020 SF
      9014 Johnson S Rd, Mobile, AL 36695-9008
      View Details

    Similar Nearby for Sale

    • $1,850,000
      74,052 SF

      Schillinger Road Commercial Land

      ±1.7-acre Mobile, AL commercial property. High traffic location.
      610 Schillinger Rd S, Mobile, AL 36695
      View Details
    • $576,000
      1 SF

      Prime Land on Grelot Road

      1.97 acres of commercial land with high visibility.
      Grelot Rd, Mobile, AL 36695
      View Details
    • $599,000

      Commercial Land Near Retail Center

      4.18 acres of B-3 zoned commercial land for sale.
      7870 Old Government Street Rd, Mobile, AL 36695
      View Details
    • $2,600,000

      Retail Showroom/Warehouse on Schillinger Road

      Retail showroom/warehouse on 1.3 acres at signalized intersection.
      1401 Schillinger Rd S, Mobile, AL 36695
      View Details
    • $1,838,760

      Commercial Land Near Growing Neighborhoods

      Commercial property adjacent to Publix in a rapidly growing area.
      9120 Cottage Hill Rd, Mobile, AL 36695
      View Details
    • $899,000
      5,056 SF

      Medical Office Building For Sale

      Well-maintained medical office building in a prime Mobile location.
      1605 Hillcrest Rd, Mobile, AL 36695
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      2,800 SF

      Schillinger Road Retail Space For Lease

      High-visibility retail space in booming West Mobile.
      1065 Schillinger Rd., Mobile, AL 36695
      View Details
    • $22 SF/Yr
      2,000 SF

      Schillinger Rd Retail Space For Lease

      High-traffic retail space, excellent visibility.
      720 Schillinger Rd, Mobile, AL 36695
      View Details
    • Contact for pricing
      57,403 SF

      Shops of Schillinger Retail Space

      Mobile, AL Retail Center: High-traffic location, multiple spaces available.
      740 Schillinger Rd, Mobile, AL 36695
      View Details
    • Contact for pricing
      169,448 SF

      Cottage Hill Commercial Land

      Prime Mobile County development site.
      9201 Cottage Hill Rd, Mobile, AL 36695
      View Details
    • $15 SF/Yr
      1,750 SF

      Hillcrest Road Office Space Available

      Two-story office building with ample parking and lush landscaping.
      1110 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $2,300 /Mo
      1,850 SF

      Professional Office Space For Lease

      Turn-key office space with reception, offices, and break room.
      6420 Hillcrest Park Ct, Mobile, AL 36695
      View Details
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    Mobile, AL 36695-4171
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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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