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    3171 Pleasant Valley Rd Mobile, AL 36606
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    3171 Pleasant Valley Rd Mobile, AL 36606

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    • Commercial real estate
    Off-Market
    Property ID
    US03-0009943
    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

    • Commercial real estate

    Property Details for 3171 Pleasant Valley Rd

    Year built
    1969
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a stabilized 24-unit apartment building in Mobile, Alabama. The property, comprised of two two-story buildings situated on a 46,722 square foot lot, features 24 spacious two-bedroom, one-bathroom units, each measuring 875 square feet. A complete renovation was undertaken between 2019 and 2023, enhancing the property's appeal and value. Further bolstering its appeal is a new laundry facility added in 2022. Currently boasting a 92% occupancy rate (as of October 1, 2024), the property generates a Net Operating Income (NOI) of $102,729, with a pro-forma NOI of $118,306. The property's strong performance is reflected in its attractive 7.13% cap rate and a pro-forma cap rate of 8.22%. Built in 1969, this Class C multifamily investment offers significant upside potential through increased rents and reduced vacancy. The asking price is $1,440,000. Located in a quiet residential area, this property presents a compelling opportunity for investors seeking a stable, high-performing asset in a growing market. The property is conveniently located in Mobile County, Alabama, zip code 36606, at 3171 Pleasant Valley Rd.

    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
    -88.1189424
    Latitude
    30.661198

    Comparable in this City

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      5,910 SF

      Midtown Mobile Multifamily Investment Opportunity

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      Midtown Mobile Multifamily Investment

      Six-unit apartment buildings in Midtown Mobile with immediate rental income.
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    • $600,000
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      Midtown Investment Opportunity

      Two buildings with six fully leased units in Midtown Mobile.
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    • Contact for pricing

      Multifamily Portfolio in Mobile, AL

      149-unit multifamily portfolio in Mobile, Alabama.
      2904 Pleasant Valley Rd, Mobile, AL 36606
      View Details
    • $600,000
      3,576 SF

      Midtown Multi-Unit Investment Opportunity

      Six fully leased units in a convenient Midtown location.
      266 Rickarby St, Mobile, AL 36606
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    • $799,000
      0.32 Acres

      Midtown Mobile Multifamily Investment

      Nine-unit apartment complex in Midtown Mobile, fully occupied.
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      View Details

    Similar Nearby for Sale

    • $799,000
      0.32 Acres

      Midtown Mobile Multifamily Investment

      Nine-unit apartment complex in Midtown Mobile, fully occupied.
      203 Mohawk St, Mobile, AL 36606
      View Details
    • Contact for pricing

      Midtown Mobile Investment Opportunity

      Fully furnished 8-unit apartment complex with short-term rental history.
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    • $799,000
      5,910 SF

      Midtown Mobile Multifamily Investment Opportunity

      Nine-unit apartment complex in Midtown Mobile, 100% occupied.
      203 Mohawk St, Mobile, AL 36606
      View Details
    • $600,000
      3,576 SF

      Midtown Investment Opportunity

      Two buildings with six fully leased units in Midtown Mobile.
      266 Rickarby St, Mobile, AL 36606
      View Details
    • Contact for pricing

      Multifamily Portfolio in Mobile, AL

      149-unit multifamily portfolio in Mobile, Alabama.
      2904 Pleasant Valley Rd, Mobile, AL 36606
      View Details
    • $600,000
      3,576 SF

      Midtown Multi-Unit Investment Opportunity

      Six fully leased units in a convenient Midtown location.
      266 Rickarby St, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

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      Midtown Mobile Office Space Available

      Flexible Office Space, Midtown Mobile
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      Mobile Industrial Property For Sale/Lease

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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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