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

    2540 Leroy Stevens Rd Mobile, AL 36695-8567

    • Retail properties
    • 6,000 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Mar 16, 2022
    $285,000
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0384481
    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

    • Retail properties

    Property Details for 2540 Leroy Stevens Rd

    Year built
    1997
    Lot size
    0.73 lot acres
    Property size
    6,000 SF
    Property type
    Retail properties
    APN
    34 01 01 3 000 004.050
    APU
    3401013000004050

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $325,000
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $230,000
      Market price range: $219k - $689k
      AI Estimate
      $284,000
      Market price range: $248k - $792k

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $425,000
      Current use
      WAREHOUSE, STORAGE
      $380,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2336
    Latitude
    30.638
    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
    $2,445
    $8,220
    $42,200
    $50,420
    -
    $41,100
    $211,000
    $252,100

    Comparable in this City

    • Value Estimation
      $310,000
      836 SF

      6421 Hillcrest Park Ct

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 836 SF
      6421 Hillcrest Park Ct, Mobile, AL 36695-2688
      View Details
    • Value Estimation
      $250,000
      2,600 SF

      10351 Garris Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,600 SF
      10351 Garris Dr, Mobile, AL 36695-9216
      View Details
    • Value Estimation
      $420,000
      4,365 SF

      620 Schillinger S Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,365 SF
      620 Schillinger S Rd, Mobile, AL 36695-8926
      View Details
    • Value Estimation
      $810,000
      32,654 SF

      8081 Cottage Hl Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 32,654 SF
      8081 Cottage Hl Rd, Mobile, AL 36695-4124
      View Details
    • Value Estimation
      $260,000
      2,400 SF

      Mobile, AL 36695

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,400 SF
      Mobile, AL 36695
      View Details
    • Value Estimation
      $300,000
      4,194 SF

      220 Portside Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,194 SF
      220 Portside Blvd, Mobile, AL 36695-3349
      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
    • $1,899,000
      5,220 SF

      Commercial Lot with Building

      Commercial lot with building in high-traffic shopping area.
      751 Schillinger Rd, Mobile, AL 36695
      View Details
    • $3,361,921
      3,726 SF

      Mobile Urgent Care Center Investment

      High-yield, NNN-leased medical property.
      2451 D'iberville Dr, 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
    • $425,000

      Established Dry Cleaners For Sale

      Dry cleaning business with building and equipment in prime location.
      1436 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $1,200,000

      Fully Occupied Shopping Center

      7,350 SF shopping center with long-term tenants.
      1234 Hillcrest Rd, Mobile, AL 36695
      View Details

    Similar Nearby for Lease

    • 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
    • $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
    • $15 SF/Yr
      5,000 SF

      Palmetto Square Retail Space For Lease

      High-traffic retail space, Mobile, AL
      960 Schillinger Rd, Mobile, AL 36695
      View Details
    • $9 SF/Yr
      21,454 SF

      Schillinger Place Retail Space

      High-traffic retail space available. Prime Mobile location.
      2502 Schillinger Rd S, Mobile, AL 36695
      View Details
    • $26 SF/Yr
      19,350 SF

      Schillinger Rd Retail End Cap

      1,000 SF Retail Space - High Traffic
      720 Schillinger Rd, Mobile, AL 36695
      View Details
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    2540 Leroy Stevens Rd
    Mobile, AL 36695-8567
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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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