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

    23470 Grissom Dr Robertsdale, AL 36567-3473

    • Office buildings
    • 1,277 SF
    • 2.30 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1958372
    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

    • Industrial Services and Sales LLC / Factory / Industrial Manufacturer

    Property Details for 23470 Grissom Dr

    Year built
    1994
    Lot size
    2.30 lot acres
    Property size
    1,277 SF
    Property type
    Office buildings
    APN
    42-07-36-0-000-027.005
    APU
    4207360000027005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Robertsdale
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.7267
    Latitude
    30.5664
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, AL MICROPOLITAN 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
    $2,452
    $37,580
    $30,540
    $68,120
    -
    $187,900
    $152,700
    $340,600

    Comparable in this City

    • Value Estimation
      $990,000
      4,132 SF

      23214 Chicago St

      OFFICE BUILDING • 4,132 SF
      23214 Chicago St, Robertsdale, AL 36567-7105
      View Details
    • Value Estimation
      $610,000
      2,736 SF

      22844 County Rd 87

      OFFICE BUILDING • 2,736 SF
      22844 County Rd 87, Robertsdale, AL 36567-2662
      View Details
    • Value Estimation by Request
      338 SF

      22600 Hazen Rd

      OFFICE BUILDING • 338 SF
      22600 Hazen Rd, Robertsdale, AL 36567-2775
      View Details
    • Value Estimation
      $710,000
      3,956 SF

      22861 Mcauliffe Dr

      OFFICE BUILDING • 3,956 SF
      22861 Mcauliffe Dr, Robertsdale, AL 36567-3350
      View Details
    • Value Estimation by Request
      1,960 SF

      22574 Racine St

      OFFICE BUILDING • 1,960 SF
      22574 Racine St, Robertsdale, AL 36567
      View Details
    • Value Estimation by Request
      1,459 SF

      22885 State Hwy 59th S

      OFFICE BUILDING • 1,459 SF
      22885 State Hwy 59th S, Robertsdale, AL 36567-3199
      View Details

    Similar Nearby for Sale

    • $309,000
      14.48 Acres

      Secluded Land with River Frontage

      14.57 acres with Styx River frontage near I-10.
      24781 New Horizons Trl, Robertsdale, AL 36567
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    • $315,000
      24.49 Acres

      Robertsdale Land with Creek Access

      24.49 acres with creek access near I-10.
      Lechner Rd, Robertsdale, AL 36567
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    • $165,000
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      Robertsdale Residential Land with Utilities

      3.19-acre residential lot with utilities in Robertsdale, Alabama.
      27373 Linholm Rd, Robertsdale, AL 36567
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    • $365,900
      4.03 Acres

      4-Acre Property with Stocked Pond

      Fenced property with pond, river access, and fruit trees.
      25151 Goat Cooper Rd, Robertsdale, AL 36567
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    • New
      $308,750
      6.54 Acres

      Expansive Land Parcel in Robertsdale

      Large vacant land parcel ready for development in Robertsdale, AL.
      18697 Kendrick Rd, Robertsdale, AL 36567
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    • $324,999
      27.99 Acres

      Versatile Land Near I-10

      Rural/agricultural land near I-10 with cleared homesite and green fields.
      22544 Lechner Rd, Robertsdale, AL 36567
      View Details

    Similar Nearby for Lease

    • $1,600 /Mo
      722 SF

      Robertsdale Office Space for Lease

      722 sq ft office, prime Robertsdale location.
      22193 AL-59, Robertsdale, AL 36567
      View Details
    • $13 SF/Yr
      1,625 SF

      Robertsdale Retail Space for Lease

      1625 sq ft retail/office space in Robertsdale, AL.
      21530 Professional Dr, Robertsdale, AL 36567
      View Details
    • Contact for pricing
      1,625 SF

      Robertsdale Office Space For Rent

      Office space featuring a large common room with bathroom and storage.
      21530 Professional Dr, Robertsdale, AL 36567
      View Details
    • $14 SF/Yr
      12,000 SF

      Robertsdale Retail Space For Lease

      New Retail/Office Condos, Summer 2025
      18375 Al-104, Robertsdale, AL 36567
      View Details
    • $319 /Mo
      722 SF

      Robertsdale Executive Office Suite

      722 sq ft, all-inclusive lease, prime location.
      22193 Al-59, Robertsdale, AL 36567
      View Details
    • $2,000 /Mo
      2,400 SF

      Robertsdale Retail Space For Lease

      High-visibility retail/office space near I-10.
      27838 Co Rd 64, Robertsdale, AL 36567
      View Details
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    23470 Grissom Dr
    Robertsdale, AL 36567-3473
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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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