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    370 Schillinger S Rd Mobile, AL 36695-8960
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    Property profile & analytics

    370 Schillinger S Rd, Mobile, AL 36695-8960

    View on Map
    • Retail space
    • 15,583 SF
    • 1.57 lot acres
    Off-Market
    Last Sale Jul 8, 2020
    $4,000,000
    Property ID
    US03-0889130
    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
    $4,035,000
    Show details
    Cap Rate Potential
    3.9%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Gary A. Ray, Pharm / Pharmacy
    • Letitia J. Burage, RPH / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Walgreens / Pharmacy

    Property Details for 370 Schillinger S Rd

    Year built
    2001
    Lot size
    1.57 lot acres
    Property type
    Retail space
    APN
    27 06 24 4 000 013.XXX
    APU
    2706244000013XXX

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 8, 2020 $4,000,000 Dhl Mobile LLC Pv-wag Schillinger LLC Warranty Deed —
    Jul 8, 2020 — Charles A Ernst JR. Pv-wag Schillinger LLC Affidavit Of Death · related —
    Dec 5, 2019 $3,100,000 Pv Wag Schillinger LLC James A Carroll Warranty Deed $2.7M · Vast Bank NA
    Jun 13, 2016 $5,703,226 James J Carroll Airport Boulevard LLC Warranty Deed $4.3M

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,240,000
      ML approach
      $4,980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,440,000
      6.5%
      $3,175,000
      7%
      $2,945,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,403,000
      Market price range: $1.26M - $4.40M
      AI Estimate
      $2,444,000
      Market price range: $643k - $2.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,200,000
      Current use
      RESTAURANT
      $3,110,000
      Change: -3% Conversion: Easy
      MEDICAL BUILDING
      $3,010,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.226
    Latitude
    30.6823
    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
    $35,770
    $328,380
    $229,540
    $557,920
    -
    $1,641,900
    $1,147,700
    $2,789,600

    Comparable in this City

    • Value Estimation
      $880,000
      5,800 SF

      3400 Schillinger S Rd

      RETAIL STORES (PERSONAL SERVICES)
      3400 Schillinger S Rd, Mobile, AL 36695-4172
      View Details
    • Value Estimation
      $1,495,000
      8,614 SF

      8150 Cottage Hl Rd

      RETAIL STORES (PERSONAL SERVICES)
      8150 Cottage Hl Rd, Mobile, AL 36695-4952
      View Details
    • Value Estimation by Request
      2,461 SF

      7214 Cottage Hl Rd

      RETAIL STORES (PERSONAL SERVICES)
      7214 Cottage Hl Rd, Mobile, AL 36695-2825
      View Details
    • Value Estimation
      $4,355,000
      32,799 SF

      850 Schillinger S Rd

      RETAIL STORES (PERSONAL SERVICES)
      850 Schillinger S Rd, Mobile, AL 36695-8927
      View Details
    • Value Estimation by Request
      1.97 Acres

      889 Snow Rd

      Individual retail properties
      889 Snow Rd, Mobile, AL 36695
      View Details
    • Value Estimation
      $13,315,000
      119,042 SF

      450 Schillinger S Rd

      RETAIL STORES (PERSONAL SERVICES)
      450 Schillinger S Rd, Mobile, AL 36695
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Established Dry Cleaners For Sale

      Dry cleaning business with building and equipment in prime location.
      1436 Hillcrest Rd, Mobile, AL 36695
      View Details
    • Contact for pricing

      Freestanding Fortis College Investment Property

      NNN leased Fortis College with rental increases in Mobile, Alabama.
      7033 Airport Blvd, Mobile, AL 36695
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    • Contact for pricing

      Cottage Hill Road Commercial Opportunity

      Freestanding commercial building on Cottage Hill Road with expansion potential.
      7256 Cottage Hill Rd, Mobile, AL 36695
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      25,250 SF

      Multi-Tenant Retail Center For Sale

      Neighborhood retail center with high occupancy in thriving retail hub.
      960 Schillinger Rd S, Mobile, AL 36695
      View Details
    • $850,000
      2.40 Acres

      Prime Development Location in Mobile

      2.4 Acres ideal for retail, gas station, or restaurant.
      9250 Jeff Hamilton Road Ext, Mobile, AL 36695
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,150 SF

      Retail Space in Hillwood Center

      Retail space available in Hillwood Shopping Center.
      2370 Hillcrest Rd, Mobile, AL 36695
      View Details
    • Contact for pricing
      1,500 SF

      Retail Spaces in West Mobile

      Retail spaces for lease in West Mobile development.
      Swc Dawes & Grelot, Mobile, AL 36695
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space in Renovated Center

      2,600 SF retail space available in renovated shopping center.
      1121 Dawes Rd, Mobile, AL 36695
      View Details
    • Contact for pricing
      6,700 SF

      Retail Space Near Major Retailers

      Retail space outparcel to Home Depot, high-traffic Schillinger Road.
      725 Schillinger Rd, Mobile, AL 36695
      View Details
    • Contact for pricing

      Move-In Ready Retail Space Available

      2,000 SF retail space on Schillinger Rd S.
      720 Schillinger Rd S, Mobile, AL 36695
      View Details
    • Contact for pricing
      21,454 SF

      Retail Anchor Position in Mobile

      Neighborhood center with anchor position, high visibility, ample parking.
      2502 Schillinger Rd S, Mobile, AL 36695
      View Details
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    Mobile, AL 36695-8960
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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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