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

    309 Leeds Ave Mobile, AL 36612-1513

    • Grocery and convenience stores
    • 1,951 SF
    OFF-MARKET
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    9.9%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US03-0600116
    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

    • Grocery and convenience stores

    Property Details for 309 Leeds Ave

    Year built
    1925
    Property size
    1,951 SF
    Property type
    Grocery and convenience stores
    APN
    22 10 44 0 007 106.XXX
    APU
    2210440007106XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $490,000
      6.5%
      $455,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $282,000
      Market price range: $282k - $780k
      AI Estimate
      $203,000
      Market price range: $204k - $460k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $325,000
      COMMERCIAL (GENERAL)
      $225,000
      RETAIL STORES
      $190,000
      OFFICE BUILDING
      $185,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0991
    Latitude
    30.7536
    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
    $1,023
    $1,200
    $15,440
    $16,640
    -
    $6,000
    $77,200
    $83,200

    Comparable in this City

    • Value Estimation
      $285,000
      1,392 SF

      2910 Saint Stephens Rd

      CONVENIENCE STORE • 1,392 SF
      2910 Saint Stephens Rd, Mobile, AL 36612-1207
      View Details
    • Value Estimation
      $610,000
      11,737 SF

      2600 65th Service N Rd

      CONVENIENCE STORE • 11,737 SF
      2600 65th Service N Rd, Mobile, AL 36612-2100
      View Details
    • Value Estimation
      $295,000
      718 SF

      4204 Saint Stephens Rd

      CONVENIENCE STORE • 718 SF
      4204 Saint Stephens Rd, Mobile, AL 36612-1236
      View Details
    • Value Estimation
      $370,000
      3,084 SF

      3110 Saint Stephens Rd

      CONVENIENCE STORE • 3,084 SF
      3110 Saint Stephens Rd, Mobile, AL 36612-1211
      View Details
    • Value Estimation by Request
      10,000 SF

      3226 St Stephens Rd

      Individual retail properties • 10,000 SF
      3226 St Stephens Rd, Mobile, AL 36612
      View Details
    • Value Estimation
      $395,000
      2,211 SF

      2815 Saint Stephens Rd

      CONVENIENCE STORE • 2,211 SF
      2815 Saint Stephens Rd, Mobile, AL 36612-1204
      View Details

    Similar Nearby for Sale

    • $1,800,000
      4,168 SF

      Mobile Car Wash Business Opportunity

      High-traffic location, established business, excellent potential.
      2966 Saint Stephens Rd, Mobile, AL 36612
      View Details
    • $375,000
      1.53 Acres

      Mobile Retail Land - Development Ready!

      1.53 Acres, High Visibility, Prime Location
      3032 St Stephens Rd, Prichard, AL 36612
      View Details
    • $589,000
      10,000 SF

      Mobile Commercial Property: 10,000 SF Building

      Prime Mobile location, owner financing available.
      3226 Saint Stephens Rd, Mobile, AL 36612
      View Details
    • $2,500,000
      13,500 SF

      Mobile Industrial Property

      22-acre site, 13,500 SF buildings, laydown yard, I-65 access.
      3221 Anton St, Mobile, AL 36612
      View Details
    • $10,752,000
      23,018 SF

      Distribution Warehouse Near Interstate 65

      Distribution warehouse with expansion potential near major freight corridors.
      3211 Anton St, Mobile, AL 36612
      View Details
    • $375,000
      1 SF

      Prime Commercial Land Opportunity

      1.24-acre commercial property in Mobile, Alabama, with high visibility.
      3032 Saint Stephens Rd, Prichard, AL 36612
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      1,666 SF

      Retail Space in Shopping Center

      Retail space available in high-traffic shopping center on Hwy 45.
      3445 Saint Stephens Rd, Mobile, AL 36612
      View Details
    • $6 SF/Yr
      80,000 SF

      Mobile Industrial Space For Lease

      Large warehouse, office space, & yard. Ideal for distribution.
      2850 W Main St, Mobile, AL 36612
      View Details
    • $5,000 /Mo
      6,200 SF

      Mobile Industrial Space For Lease

      6,200 SF Warehouse, Yard, & Storage
      3345 anton street, Mobile, AL 36612
      View Details
    • $6 SF/Yr
      27,000 SF

      Mobile Industrial Space For Lease

      Large warehouse, office, & yard space available.
      2850 W Main St, Mobile, AL 36612
      View Details
    • $7,700 /Mo
      36,000 SF

      Mobile I-2 Office/Warehouse For Lease

      36,000 SF industrial space, fenced laydown yard.
      2926 W Main St, Mobile, AL 36612
      View Details
    • $7,500 /Mo
      12,800 SF

      Mobile Warehouse Space Available

      12,800 SF warehouse space for rent in Mobile, AL.
      3019 Hand Ave, Mobile, AL 36612
      View Details
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    309 Leeds Ave
    Mobile, AL 36612-1513
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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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