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    Property profile & analytics

    2811 Airport Blvd Mobile, AL 36606-2304

    • Medical Office Space
    • 3,811 SF
    • 0.65 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0918277
    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

    • Rainbow at Home / Department Store
    • Bel Air Animal Hospital / Veterinary Clinic
    • Bentley Angela G DVM / Veterinary Clinic

    Property Details for 2811 Airport Blvd

    Year built
    1994
    Lot size
    0.65 lot acres
    Property size
    3,811 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    29 09 30 1 000 010.001
    APU
    2909301000010001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $667,000
      Market price range: $463k - $1.02M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $735,000
      Current use
      RETAIL STORES
      $785,000
      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
    -88.1082
    Latitude
    30.6757
    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
    $5,157
    $32,800
    $46,160
    $78,960
    -
    $164,000
    $230,800
    $394,800

    Comparable in this City

    • Value Estimation by Request
      4,035 SF

      2508 Dauphin St

      MEDICAL BUILDING • 4,035 SF
      2508 Dauphin St, Mobile, AL 36606
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    • Value Estimation by Request
      780 SF

      315 Morgan Ave

      MEDICAL BUILDING • 780 SF
      315 Morgan Ave, Mobile, AL 36606-1738
      View Details
    • Value Estimation by Request
      2,105 SF

      2157 Airport Blvd

      MEDICAL BUILDING • 2,105 SF
      2157 Airport Blvd, Mobile, AL 36606-1719
      View Details
    • Value Estimation by Request
      2,324 SF

      71 Midtown W Park

      MEDICAL BUILDING • 2,324 SF
      71 Midtown W Park, Mobile, AL 36606-4151
      View Details
    • Value Estimation
      $1,160,000
      10,634 SF

      2870 Dauphin St

      MEDICAL BUILDING • 10,634 SF
      2870 Dauphin St, Mobile, AL 36606
      View Details
    • Value Estimation
      $1,245,000
      10,763 SF

      1991 Halls Ml Rd

      MEDICAL BUILDING • 10,763 SF
      1991 Halls Ml Rd, Mobile, AL 36606
      View Details

    Similar Nearby for Sale

    • $600,000
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      Historic Mobile Office Building

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      1916 Airport Blvd, Mobile, AL 36606
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    • $550,000
      3,284 SF

      Midtown Mobile Class A Office

      Executive/Medical Office, Climate-Controlled Garage
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    • $299,000
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      Commercial Building on High Traffic

      Commercial building with garage/storage in high-traffic location.
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    • $1,758,500
      44,917 SF

      Mobile Office Building Investment Opportunity

      Prime Mobile location, renovated, ample parking.
      501 Bel Air Blvd, Mobile, AL 36606
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    • $12,000,000
      124,245 SF

      Bel Air Office Complex: Investment Opportunity

      Class B Office Complex, Mobile, AL. High Occupancy.
      3100 Cottage Hill Road, Mobile, AL 36606
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    • $12,000,000
      92,188 SF

      Bel Air Office Complex: Investment Opportunity

      Class B Office Complex, Mobile, AL. High Occupancy, Ample Parking.
      3100 Cottage Hill Road, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      9,000 SF

      Midtown Park Executive Office Space

      9,000 SF Office, Fully Furnished
      67 Midtown Park, Mobile, AL 36606
      View Details
    • $15 SF/Yr
      9,000 SF

      Dauphin Street Office Space Available

      Prime Medical/Office Space, I-65 Access
      3153 Dauphin St, Mobile, AL 36606
      View Details
    • Contact for pricing
      3,160 SF

      Medical Office Space For Lease

      Medical office space for lease in Midtown Mobile, Alabama.
      3280 Dauphin St, Mobile, AL 36606
      View Details
    • $18 SF/Yr
      1,102 SF

      Dauphin Street Office Suite Available

      Modern Mobile, AL office space for lease.
      3280 Dauphin St, Mobile, AL 36606
      View Details
    • $14 SF/Yr
      2,740 SF

      Bel Air Office Suite - Mobile, AL

      Modern 2,740 sq ft office space available. Prime Mobile location.
      3100 Cottage Hill Road, Mobile, AL 36606
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    • $12 SF/Yr
      6,000 SF

      Mobile Office Space - 6,000 SF

      Flexible office space in prime Mobile location.
      2465 Commercial Park Dr., Mobile, AL 36606
      View Details
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    2811 Airport Blvd
    Mobile, AL 36606-2304
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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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