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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Medical Office Space
4621 Morrison Dr Mobile, AL 36609-3353
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US03-1026001
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Total area
7,791 SF
Lot
1.86 ac (80,934 SF)
APN
28 08 27 3 000 051.XXX
UPID
US03-1026001
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
-
Barber Henry MD Physician Medical Clinic
-
The Martin Center: Stephen Martin MD Physician Medical Clinic
-
The Barber May Clinic Physician Medical Clinic
-
Welford Malinda M MD Physician
-
The Martin Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.63M
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$1.64M
Owner & transaction history
Southern Cross Property Group LLC · 3 yrs held
Southern Cross Property Group LLC
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+6.4%
Restaurant
$1.6M
+3.4%
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%
$1,765,000
6.5%
$1,630,000
7%
$1,510,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,505,000
Current use
RETAIL STORES
$1,600,000
Change: +6% · Conversion: Difficult
RESTAURANT
$1,555,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$210 / 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
$19,669
Tax year 2023
Assessed value
$303,380
Assessed 2023
Previous assessed
$303,380
+0.0% YoY
Effective rate
6.48%
On assessed value
Assessed land
$96,320
Assessed improvement
$207,060
Land market value
$481,600
Improvement market value
$1,035,300
Total market value
$1,516,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
7,791 SF
Lot
1.86 ac (80,934 SF)
APN
28 08 27 3 000 051.XXX
UPID
US03-1026001
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
MEDICAL BUILDING Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
MEDICAL BUILDING Current
RETAIL STORES
RESTAURANT
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.86 ac
Current owner
From public records · entity-resolved
Southern Cross Property Group LLC
Entity
Mailing address
207 N INGLESIDE ST, FAIRHOPE, AL 36532-2921
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
—
Southern Cross Property Group LLC
Park Place Properties LLC
Warranty Deed
$2,463,275 · Park Place Properties LLC
May 25, 2005
$797,500
Park Place Properties LLC
Weller,thomas C JR
Warranty Deed
—
Dec 23, 2004
$10,000
Morrison Partners LLC
Weller,thomas C JR
Grant Deed
—
—
—
Park Place Properties LLC
—
Deed Of Trust
related
$2,018,750 · Amsouth Bk
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.
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