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    2781 Government Blvd Mobile, AL 36606
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    2781 Government Blvd, Mobile, AL 36606

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    • Grocery and convenience stores
    • 1,152 SF
    • 1.04 lot acres
    For Sale
    $795,000
    View Listing →
    Prime Commercial Land on Government For Sale
    $795,000
    1.00 Acre

    Prime Commercial Land on Government

    One-acre site suitable for retail, service, or office use.

    2781 Government Blvd, Mobile, AL 36606
    View Listing
    Property ID
    US03-0049514
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2781 Government Blvd

    Year built
    1994
    Lot size
    1.04 lot acres
    Property type
    Grocery and convenience stores
    APN
    29 09 51 0 003 008.XXX
    APU
    2909510003008XXX

    Description

    This exceptional 1.03-acre commercial land parcel is ideally situated at the signalized intersection of Government Boulevard and Pleasant Valley Road in Mobile, Alabama. Zoned B-2 Neighborhood Business, this property boasts a prime location on a major corridor with over 25,000 vehicles passing daily. The site, previously a convenience store, presents a multitude of development opportunities, including but not limited to: convenience stores, car washes, auto repair shops, banks, restaurants, bars, clinics, retail stores, and pharmacies. Its strategic location offers easy access to Interstate 65 (within one mile) and the Mobile Central Business District (under four miles). Government Boulevard sees 18,000 vehicles daily, while Pleasant Valley Road registers 12,000. The property benefits from a substantial potential customer base, with over 150,000 people residing within a five-mile radius and a median income exceeding $33,000. The asking price is $895,000, translating to $19.83 per square foot. This fee simple ownership opportunity is a compelling investment for discerning business owners seeking high visibility and significant traffic volume. The property's APN is 29 09 51 0 003 008.XXX. Don't miss this chance to acquire a highly desirable commercial property in a thriving Mobile location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.107
    Latitude
    30.662
    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
    $4,388
    $42,980
    $22,620
    $65,600
    -
    $214,900
    $113,100
    $328,000

    Comparable in this City

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    • Value Estimation
      $685,000
      3,096 SF

      3006 Halls Ml Rd

      CONVENIENCE STORE
      3006 Halls Ml Rd, Mobile, AL 36606-2509
      View Details
    • Value Estimation by Request
      1,364 SF

      450 Houston St

      CONVENIENCE STORE
      450 Houston St, Mobile, AL 36606-4347
      View Details
    • Value Estimation
      $625,000
      4,479 SF

      817 Dauphin Is Pkwy

      CONVENIENCE STORE
      817 Dauphin Is Pkwy, Mobile, AL 36606-4212
      View Details
    • Value Estimation
      $600,000
      2,407 SF

      3000 Dauphin St

      CONVENIENCE STORE
      3000 Dauphin St, Mobile, AL 36606-4041
      View Details
    • Value Estimation by Request
      2,536 SF

      2517 Halls Ml Rd

      CONVENIENCE STORE
      2517 Halls Ml Rd, Mobile, AL 36606-4629
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      700 SF

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      Office or retail space with visibility on Airport Blvd.
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    • Contact for pricing
      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
    View Listing
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    Mobile, AL 36606
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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.

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