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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Investment properties
3221 Spg Hl Ave Mobile, AL 36607-1809
Trust Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US03-0756679
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2009
Total area
7,952 SF
Lot
1.65 ac (71,900 SF)
APN
29 08 18 2 003 039.XXX
UPID
US03-0756679
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
US Veterans Affairs Department Mobile Vet Center Veterans Affairs Department Veterans Hospital
-
Luxe Nutrition Specialty Food Shop
-
ATM (Breaktime Food Mart) Atm
-
J H Financial Services Inc Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$995k
Owner & transaction history
Mulekar Living Trust · 7 yrs held
Mulekar Living Trust
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+143.4%
Restaurant
$1.6M
+136.6%
Medical building
$1.5M
+128.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mobile submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mobile submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$670,000
Current use
RETAIL STORES
$1,635,000
Change: +143% · Conversion: Easy
RESTAURANT
$1,590,000
Change: +137% · Conversion: Difficult
MEDICAL BUILDING
$1,535,000
Change: +129% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,120,000
Change: +67% · Conversion: Moderate
OFFICE BUILDING
$865,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$125 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,386
Tax year 2023
Assessed value
$173,640
Assessed 2023
Previous assessed
$173,640
+0.0% YoY
Effective rate
6.56%
On assessed value
Assessed land
$21,580
Assessed improvement
$152,060
Land market value
$107,900
Improvement market value
$760,300
Total market value
$868,200
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Bathrooms
8
Total area
7,952 SF
Lot
1.65 ac (71,900 SF)
APN
29 08 18 2 003 039.XXX
UPID
US03-0756679
Jurisdiction
MOBILE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$670,000
RETAIL STORES
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$865,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2009
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
8
Lot
1.65 ac
Current owner
From public records · entity-resolved
Mulekar Living Trust
Trust
Mailing address
7380 SMITHFIELD RD, MOBILE, AL 36695-3579
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2021
—
Satish V Mulekar
—
Deed
related
$520,000 · Trustmark National Bank
Dec 11, 2018
$820,000
Mulekar Living Trust
Mulekar,satish V
Warranty Deed
related
—
Dec 28, 2007
—
Mulekar,satish V
—
Trustees Deed
related
$960,500 · Banktrust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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