Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3461 Gracie Ln Mobile, AL 36619
    Property profile & analytics

    3461 Gracie Ln, Mobile, AL 36619

    View on Map
    • Residential income homes
    • 2,900 SF
    Off-Market
    Property ID
    US03-0773886
    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

    • Residential income homes

    Property Details for 3461 Gracie Ln

    Property type
    Residential income homes

    Description

    This exceptional multifamily investment opportunity presents a beautifully updated 4-bedroom, 2.5-bathroom home situated on a spacious 1.8-acre lot in a desirable West Mobile location. The single-level layout boasts an open-concept kitchen and dining area featuring white solid wood cabinets, quartz countertops, updated appliances, and a walk-in pantry. The oversized family room, with 9.5-foot ceilings, provides ample space for relaxation or entertainment. The primary suite includes a private half-bath, while a 14x11 bonus room with a full bath offers versatile guest or in-law suite potential. The expansive lot is perfect for outdoor activities, complemented by mature fruit trees. Recent upgrades include a new roof (2018), updated HVAC (2019), a new water heater (2024), a remodeled laundry room, and new blown-in insulation (2023). Additional features include an attached one-car garage, a detached shed, updated electrical, and raised garden beds. The property offers approximately 2,900 square feet of living space and is listed at $299,349, with offers between $299,000 and $349,000 being considered. The property is located in a highly-rated school district, providing both comfort and practicality. All information should be verified by the buyer during due diligence.

    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
    -88.251050324414
    Latitude
    30.6186295736

    Comparable in this City

    • $525,000
      10.50 Acres

      10.5 Acres Theodore, AL Land

      Prime corner lot, high-traffic intersection, development potential.
      6041 Old Pascagoula Rd, Theodore, AL 36619
      View Details
    • Contact for pricing

      Industrial Land Near I-10 Interchange

      Industrial land with immediate access to major transportation routes.
      4450 Cypress Park Dr, Mobile, AL 36619
      View Details
    • $49,900
      1.09 Acres

      Lakefront Lot in West Mobile

      Rare 1.08 acre lakefront lot for dream home.
      Silver Maple Dr, Mobile, AL 36619
      View Details
    • Contact for pricing

      Schillinger Road Development Opportunity

      11.5 acres on Schillinger Road with development potential.
      5063 S Schillinger Rd, Mobile, AL 36619
      View Details
    • $127,000
      0.50 Acres

      Residential Land in Todd Acres

      Building lot in established neighborhood with mature hardwoods.
      2308 Henning Dr N, Mobile, AL 36619
      View Details
    • Contact for pricing
      43,309 SF

      Rangeline Crossing Outparcels For Sale

      Three outparcels available in Rangeline Crossing development.
      Rangeline Crossing Dr, Mobile, AL 36619
      View Details

    Similar Nearby for Sale

    • $525,000
      10.50 Acres

      10.5 Acres Theodore, AL Land

      Prime corner lot, high-traffic intersection, development potential.
      6041 Old Pascagoula Rd, Theodore, AL 36619
      View Details
    • Contact for pricing

      Industrial Land Near I-10 Interchange

      Industrial land with immediate access to major transportation routes.
      4450 Cypress Park Dr, Mobile, AL 36619
      View Details
    • $49,900
      1.09 Acres

      Lakefront Lot in West Mobile

      Rare 1.08 acre lakefront lot for dream home.
      Silver Maple Dr, Mobile, AL 36619
      View Details
    • Contact for pricing

      Schillinger Road Development Opportunity

      11.5 acres on Schillinger Road with development potential.
      5063 S Schillinger Rd, Mobile, AL 36619
      View Details
    • $127,000
      0.50 Acres

      Residential Land in Todd Acres

      Building lot in established neighborhood with mature hardwoods.
      2308 Henning Dr N, Mobile, AL 36619
      View Details
    • Contact for pricing
      43,309 SF

      Rangeline Crossing Outparcels For Sale

      Three outparcels available in Rangeline Crossing development.
      Rangeline Crossing Dr, Mobile, AL 36619
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flex Space with Roll-Up Door

      Flex space with warehouse and office, convenient location.
      4946 Tufts Rd, Mobile, AL 36619
      View Details
    • Contact for pricing

      Commercial Land for Rent

      Commercial land available for rent at $3,150 per acre.
      4689 Colgate Dr, Mobile, AL 36619
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3461 Gracie Ln
    Mobile, AL 36619
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3461 Gracie Ln, Mobile, AL, 36619
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!