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

    2980 Spg Hl Ave Mobile, AL 36607-1814

    • Investment properties
    • 50,773 SF
    • 8.67 lot acres
    OFF-MARKET
    Value Estimations
    $6,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0411722
    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

    • Greer's CashSaver / Butcher Shop / Deli
    • Western Union / Money Transfer Service
    • ATM Greers 25 / Bank / Atm

    Property Details for 2980 Spg Hl Ave

    Year built
    1956
    Lot size
    8.67 lot acres
    Property size
    50,773 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    29 08 18 1 002 024.XXX
    APU
    2908181002024XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,034,000
      Market price range: $2.15M - $7.03M
      AI Estimate
      $5,684,000
      Market price range: $2.00M - $5.68M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,285,000
      Current use
      RESTAURANT
      $10,140,000
      Change: +137% Conversion: Difficult
      MEDICAL BUILDING
      $9,805,000
      Change: +129% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $7,165,000
      Change: +67% Conversion: Moderate
      OFFICE BUILDING
      $5,535,000
      Change: +29% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1111
    Latitude
    30.7005
    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
    $62,110
    $132,200
    $1,068,920
    $1,201,120
    -
    $661,000
    $5,344,600
    $6,005,600

    Comparable in this City

    • Value Estimation by Request
      2,191 SF

      650 Palm St

      STORE/OFFICE (MIXED USE) • 2,191 SF
      650 Palm St, Mobile, AL 36607-1223
      View Details
    • Value Estimation
      $1,260,000
      10,075 SF

      Mobile, AL 36607

      STORE/OFFICE (MIXED USE) • 10,075 SF
      Mobile, AL 36607
      View Details
    • Value Estimation
      $645,000
      19,158 SF

      600 Western Dr

      STORE/OFFICE (MIXED USE) • 19,158 SF
      600 Western Dr, Mobile, AL 36607-1405
      View Details
    • Value Estimation by Request
      8,492 SF

      2960 Old Shell Rd

      STORE/OFFICE (MIXED USE) • 8,492 SF
      2960 Old Shell Rd, Mobile, AL 36607-2822
      View Details
    • Value Estimation by Request
      3,521 SF

      2151 Old Shell Rd

      STORE/OFFICE (MIXED USE) • 3,521 SF
      2151 Old Shell Rd, Mobile, AL 36607-3221
      View Details
    • Value Estimation by Request
      2,348 SF

      1801 Old Shell Rd

      STORE/OFFICE (MIXED USE) • 2,348 SF
      1801 Old Shell Rd, Mobile, AL 36607-3416
      View Details

    Similar Nearby for Sale

    • $699,000
      59,000 SF

      SpringHill Ave Multi-Use Property

      High-traffic corner lot, Mobile, AL
      2851 Spring Hill Ave, Mobile, AL 36607
      View Details
    • $42,500

      Dauphin Square Commercial Lot

      Mobile, AL vacant lot - $42,500
      3008 Dauphin Sq Connector, Mobile, AL 36607
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    • $550,000

      Prime Redevelopment Opportunity in Mobile

      Land with high visibility in a growing commercial area.
      2660-2662 Spring Hill Ave, Mobile, AL 36607
      View Details
    • $325,000
      0.21 Acres

      Turn-Key Commercial Opportunity

      Remodeled commercial property with excellent visibility and parking.
      407 Dauphin Island Pkwy, Mobile, AL 36607
      View Details
    • $79,900
      0.08 Acres

      Residential Income Opportunity Near I-65

      3/1 home on corner lot, near shopping and I-65.
      361 Fredonia St, Mobile, AL 36607
      View Details
    • Contact for pricing
      9,038 SF

      Midtown Mobile Flex Space Opportunity

      9,038 SF Flex/Storefront in Mobile, AL
      2966 Old Shell Rd, Mobile, AL 36607
      View Details

    Similar Nearby for Lease

    • $1,100 /Mo
      880 SF

      Midtown Mobile Office Space Available

      880 sq ft office, prime location, great lease terms.
      50 Tacon St, Mobile, AL 36607
      View Details
    • $10 SF/Yr
      4,280 SF

      Prime Mobile Retail Space - Springhill Ave

      High-traffic location, 4,280 SF free-standing building. Excellent visibility.
      2861 Spring Hill Ave, Mobile, AL 36607
      View Details
    • $10 SF/Yr
      4,038 SF

      Midtown Mobile Retail/Office Space

      High-visibility retail/office space in renovated building.
      2724 Old Shell Rd, Mobile, AL 36607
      View Details
    • $4 SF/Yr
      148,371 SF

      Industrial Warehouses with Railway Access

      148,371± SF industrial space on 17.96± acres with parking.
      3378 Moffett Rd, Mobile, AL 36607
      View Details
    • $7 SF/Yr
      30,000 SF

      Industrial Complex Near Interstate 65

      Industrial complex with easy access to Interstate 65.
      402 Western Dr, Mobile, AL 36607
      View Details
    • $1,950 /Mo
      2,700 SF

      Mobile Office/Warehouse Flex Space

      2700 SF flex space for lease in Mobile, AL.
      1125 Corporate Drive North, Mobile, AL 36607
      View Details
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    Mobile, AL 36607-1814
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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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