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    3301 Knollwood Dr Mobile, AL 36693
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    3301 Knollwood Dr Mobile, AL 36693

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    • Medical Office Space
    • 22,420 SF
    • 1.67 lot acres
    For Sale
    $696,960
    View Listing →
    Former Hospital Site Land For Sale
    $696,960
    3.20 Acres

    Former Hospital Site Land

    Vacant land suitable for redevelopment near Highway 90.

    3301 Knollwood Dr, Mobile, AL
    View Listing
    Property ID
    US03-0787969
    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

    • Rao Sudeep MD / Physician
    • Edmond Julie R / Medical Clinic
    • Dr. Ronald C. Allison, MD / Physician
    • Michalski Joseph P MD / Physician
    • Dr. Johnson Haynes Jr, MD / Pediatrician

    Property Details for 3301 Knollwood Dr

    Year built
    1981
    Lot size
    1.67 lot acres
    Property size
    22,420 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    33 02 10 3 000 022.XXX
    APU
    3302103000022XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,723,000
      Market price range: $2.72M - $5.99M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1679
    Latitude
    30.6215
    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
    $0.00
    $20,280
    $109,600
    $129,880
    -
    $101,400
    $548,000
    $649,400

    Comparable in this City

    • Value Estimation by Request
      3,764 SF

      3977 Burma Rd

      MEDICAL BUILDING • 3,764 SF
      3977 Burma Rd, Mobile, AL 36693-4523
      View Details
    • Value Estimation
      $1,060,000
      8,008 SF

      5011 Government Blvd

      MEDICAL BUILDING • 8,008 SF
      5011 Government Blvd, Mobile, AL 36693-5029
      View Details
    • Value Estimation by Request
      43,000 SF

      1616 Service Rd

      Distribution properties • 43,000 SF
      1616 Service Rd, Mobile, AL 36693
      View Details
    • Value Estimation
      $1,390,000
      62,449 SF

      3151 Knollwood Dr

      HOMES (RETIRED, NURSING) • 62,449 SF
      3151 Knollwood Dr, Mobile, AL 36693-2753
      View Details
    • Value Estimation
      $995,000
      40,447 SF

      4164 Halls Ml Rd

      HOMES (RETIRED, NURSING) • 40,447 SF
      4164 Halls Ml Rd, Mobile, AL 36693-5614
      View Details
    • Value Estimation by Request
      2,060 SF

      1609 Rochelle St

      OFFICE BUILDING • 2,060 SF
      1609 Rochelle St, Mobile, AL 36693-4967
      View Details

    Similar Nearby for Sale

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      Office Building on 1.58 Acres

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    • $3,048,700

      Industrial Investment Near I-10, I-65

      27,000 SF industrial property with long-term national credit tenant.
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    • $680,000
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      Mobile Office Building Investment

      Prime multi-tenant office building, high occupancy.
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      Pad Ready Site For Sale

      Pad-ready site near I-65, ideal for retail or office.
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    • $375,000
      6,320 SF

      Spacious Office Building with Flexibility

      6,320 SF office building with multiple suites on 1.58 acres.
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    • $635,000

      Multi-Tenant Office Building For Sale

      Prime investment opportunity: multi-tenant office building in desirable location.
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    Similar Nearby for Lease

    • $9 SF/Yr
      38,100 SF

      Mobile Office/Warehouse Space Available

      Large Office/Warehouse in Mobile, AL
      840 Lakeside Dr, Mobile, AL 36693
      View Details
    • $2,400 /Mo
      3,600 SF

      Mobile Office/Warehouse Suite A

      Prime Mobile location; 3600 SF flex space.
      901 Butler Drive, Mobile, AL 36693
      View Details
    • $2,925 /Mo
      4,675 SF

      Mobile Office/Warehouse Suite C

      Prime 4,675 SF Flex Space Available
      901 Butler Drive, Mobile, AL 36693
      View Details
    • Contact for pricing
      6,400 SF

      Office/Warehouse Space Near I-65

      6,400 SF office/warehouse with fenced yard, near I-65.
      748 Lakeside Dr, Mobile, AL 36693
      View Details
    • $950 /Mo
      5,014 SF

      Charming Cottage on Cottage Hill

      Quaint cottage ideal for office or retail use.
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    • Contact for pricing

      Mobile Office Building For Sale

      6,320 SF office building with two tenant suites.
      3512 Godwin Ct, Mobile, AL 36693
      View Details
    View Listing
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    Mobile, AL 36693
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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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    3301 Knollwood Dr, Mobile, AL, 36693
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