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Property profile & analytics
OFF-MARKET
Estimated value
$1,600,000
Investment properties
2280 Dr Martin L King Jr Ave Mobile, AL 36617-3704
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-1706306
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2000
Total area
9,030 SF
Lot
2.17 ac (94,709 SF)
APN
29 02 44 0 023 010.XXX
UPID
US03-1706306
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.85M
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.60M
Owner & transaction history
Alexander Fund II LLC · 11 yrs held
Alexander Fund II LLC
since 2015
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+143.4%
Restaurant
$1.8M
+136.6%
Medical building
$1.7M
+128.8%
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%
$2,005,000
6.5%
$1,850,000
7%
$1,715,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,855,000
Change: +143% · Conversion: Easy
RESTAURANT
$1,805,000
Change: +137% · Conversion: Difficult
MEDICAL BUILDING
$1,745,000
Change: +129% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,275,000
Change: +67% · Conversion: Moderate
OFFICE BUILDING
$985,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$1.60M
Range $1.44M – $1.76M · ±10%
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
$177 / 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
$17,434
Tax year 2023
Assessed value
$267,100
Assessed 2023
Previous assessed
$267,100
+0.0% YoY
Effective rate
6.53%
On assessed value
Assessed land
$75,760
Assessed improvement
$191,340
Land market value
$378,800
Improvement market value
$956,700
Total market value
$1,335,500
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
2000
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
4
Bathrooms
1
Total area
9,030 SF
Lot
2.17 ac (94,709 SF)
APN
29 02 44 0 023 010.XXX
UPID
US03-1706306
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
RETAIL STORES
Est. value
$1.9M
RESTAURANT
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$985,000
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
2000
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
1
Lot
2.17 ac
Current owner
From public records · entity-resolved
Alexander Fund II LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2023
—
Bank Of America N A
—
Deed
related
$39,250,000 · Computershare Trust Company N A
Dec 20, 2022
—
Exchangeright Net Leased Portfolio
—
Deed
related
$117,750,000 · Bank Of America NA
Jul 31, 2017
—
Alexander Fund II LLC
—
Deed
related
$2,892,434 · Independent Bk
Apr 15, 2015
$3,856,461
Alexander Fund II LLC
Wec 2000b Clf I LLC
Warranty Deed
—
—
—
Alexander Fund II LLC
—
Loan Modification
related
$2,892,434 · Independent Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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