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    Property profile & analytics

    2202 Government St Mobile, AL 36606-1605

    • Retail space
    • 3,898 SF
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2884151
    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

    • Buddy Ray Auction-Appraisals / Real Estate Agency

    Property Details for 2202 Government St

    Year built
    1957
    Construction
    CONCRETE BLOCKS
    Property size
    3,898 SF
    Property type
    Retail space
    APN
    R022909291001049.01
    APU
    R02290929100104901

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $800,000
      Market price range: $315k - $1.10M
      AI Estimate
      $379,000
      Market price range: $161k - $611k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $800,000
      Current use
      MEDICAL BUILDING
      $755,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0922
    Latitude
    30.6748
    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
    2014
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,218 SF

      2600 Government Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,218 SF
      2600 Government Blvd, Mobile, AL 36606-2624
      View Details
    • Value Estimation
      $1,805,000
      14,127 SF

      3333 Cottage Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,127 SF
      3333 Cottage Hl Rd, Mobile, AL 36606-3023
      View Details
    • Value Estimation by Request
      1.81 Acres

      Airport Blvd

      Individual retail properties • 1.81 Acres
      0 Airport Blvd, Mobile, AL 36606
      View Details
    • Value Estimation by Request
      2,106 SF

      414 Dauphin Is Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,106 SF
      414 Dauphin Is Pkwy, Mobile, AL 36606-1226
      View Details
    • Value Estimation
      $1,630,000
      10,764 SF

      1805 Duval St

      RETAIL STORES (PERSONAL SERVICES) • 10,764 SF
      1805 Duval St, Mobile, AL 36606-1147
      View Details
    • Value Estimation by Request
      6,041 SF

      14 Midtown W Park

      RETAIL STORES (PERSONAL SERVICES) • 6,041 SF
      14 Midtown W Park, Mobile, AL 36606-4148
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,119 SF

      Event Center on Cottage Hill

      Retail property leased as an event center with ample parking.
      3926 Cottage Hill Rd, Mobile, AL 36606
      View Details
    • $1,855,250
      1.81 Acres

      Mobile Prime Development Site

      1.81 Acres, High-Traffic Location
      0 Airport Blvd, Mobile, AL 36606
      View Details
    • Contact for pricing
      11,946 SF

      Freestanding Retail Building with Drive-Thru

      Large retail building with drive-thru on Cottage Hill Road.
      3932 Cottage Hill Rd, Mobile, AL 36606
      View Details
    • $199,000
      3,064 SF

      Commercial Property on Government Street

      Commercial property suitable for business, office, or retail use.
      2104 Government St, Mobile, AL 36606
      View Details
    • Contact for pricing
      4,300 SF

      Retail Property on Dauphin Street

      Retail property for sale with redevelopment potential in Mobile, Alabama.
      3165 Dauphin St, Mobile, AL 36606
      View Details
    • $650,000
      5,496 SF

      Airport Blvd. Retail Investment

      High-traffic Mobile, AL retail space.
      2375 Airport Blvd, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

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      1,995 SF

      Retail Space Near Bel Air

      Inline retail space available near Bel Air Mall.
      3255 Airport Blvd, Mobile, AL 36606
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      2,459 SF

      Former Bank Branch Available

      2,459 SF former bank branch with drive-thru capability.
      550 Bel Air Blvd, Mobile, AL 36606
      View Details
    • Contact for pricing
      700 SF

      700 SF Office/Retail Space

      Office or retail space with visibility on Airport Blvd.
      1880 Airport Blvd, Mobile, AL 36606
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    • Contact for pricing
      1,280 SF

      Retail Space in Shopping Center

      Retail space available soon in Pleasant Valley Shopping Center.
      2755 Pleasant Valley Rd, Mobile, AL 36606
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    • Contact for pricing
      3,750 SF

      Versatile Space on Government Street

      Office, retail, and warehouse space with high visibility.
      2565 Government Blvd, Mobile, AL 36606
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Dauphin Street

      Retail space for lease with high visibility on Dauphin Street.
      3170 Dauphin St, Mobile, AL 36606
      View Details
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    2202 Government St
    Mobile, AL 36606-1605
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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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