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    Property profile & analytics

    500 Spanish Ft Blvd Spanish Fort, AL 36527-5002

    • Apartment buildings
    • 4,020 SF
    • 36.00 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    7.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US03-0761748
    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.

    Current Use by Public Records

    • Westminster Village / Retirement Community
    • Presbyterian Retirement Corporation / Retirement Home
    • Stephanie Wilkes Heritage / Nurse Practitioner

    Property Details for 500 Spanish Ft Blvd

    Year built
    1983
    Lot size
    36.00 lot acres
    Property size
    4,020 SF
    Property type
    Apartment buildings
    APN
    32-09-30-4-000-001.001
    APU
    3209304000001001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $545,000
      6.5%
      $505,000
      7%
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $653,000
      Market price range: $230k - $654k

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

    Location Insight

    • Map
    • Local Demand
    City
    Spanish Fort
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.9044
    Latitude
    30.6675
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, AL MICROPOLITAN 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
    $266,340
    $7,156,320
    $7,422,660
    -
    $2,294,917
    $61,662,383
    $63,957,300

    Comparable in this City

    • Value Estimation by Request
      16,539 SF

      10558 Eastern Shr Blvd

      APARTMENT HOUSE (5+ UNITS) • 16,539 SF
      10558 Eastern Shr Blvd, Spanish Fort, AL 36527-5849
      View Details
    • Value Estimation
      $2,300,000
      20,053 SF

      30000 Town Ctr Ave

      APARTMENT HOUSE (5+ UNITS) • 20,053 SF
      30000 Town Ctr Ave, Spanish Fort, AL 36527-9430
      View Details
    • Value Estimation by Request
      25,207 SF

      10407 Us Hwy 31

      APARTMENT HOUSE (5+ UNITS) • 25,207 SF
      10407 Us Hwy 31, Spanish Fort, AL 36527-7612
      View Details
    • Value Estimation
      $1,210,000
      10,345 SF

      31230 Stagecoach Rd

      APARTMENT HOUSE (5+ UNITS) • 10,345 SF
      31230 Stagecoach Rd, Spanish Fort, AL 36527-8521
      View Details
    • Value Estimation
      $525,000
      5,444 SF

      30653 Caribbean Blvd

      APARTMENT HOUSE (5+ UNITS) • 5,444 SF
      30653 Caribbean Blvd, Spanish Fort, AL 36527-9308
      View Details
    • Value Estimation by Request
      4,599 SF

      31027 State Hwy 225

      APARTMENT HOUSE (5+ UNITS) • 4,599 SF
      31027 State Hwy 225, Spanish Fort, AL 36527-3163
      View Details

    Similar Nearby for Sale

    • $525,000

      Income-Producing Land in Spanish Fort

      3.2-acre income property with house and mobile homes in Spanish Fort.
      31733 Buzbee Rd, Spanish Fort, AL 36527
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    • $39,900
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      Spanish Fort Residential Lot

      Build Your Dream Home Today!
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    • $3,000,000
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      Spanish Fort Waterfront Land

      56 Acres, Riverfront, Residential
      0 Blakley Riv Rd, Spanish Fort, AL 36527
      View Details
    • $3,275,000
      3.20 Acres

      30794 Al-181

      Land • 3.20 Acres
      30794 Al-181, Spanish Fort, AL 36527
      View Details
    • $564,000
      1.63 Acres

      Spanish Fort Office Land - 1.63 Acres

      Prime commercial land, ideal healthcare or office.
      Town Center Ave & Cypress Way, Spanish Fort, AL 36527
      View Details
    • $250,000
      27,950 SF

      Battleship Parkway Commercial Land

      Flat lot on the causeway, suitable for various businesses.
      Battleship Pkwy, Spanish Fort, AL 36527
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    Similar Nearby for Lease

    • $1,500 /Mo
      800 SF

      Spanish Fort Office/Retail Space

      800 sq ft, prime location, three suites available.
      8531 Spanish Fort Blvd, Spanish Fort, AL 36527
      View Details
    • $17 SF/Yr
      8,500 SF

      Eastern Shore Centre Retail Space

      8,500 SF retail space, prime location.
      30500 AL-181, Spanish Fort, AL 36527
      View Details
    • $16 SF/Yr
      9,604 SF

      Spanish Fort Retail Spaces For Lease

      High-traffic retail spaces available. Prime location in Spanish Fort.
      22500 Town Center Ave, Spanish Fort, AL 36527
      View Details
    • Contact for pricing
      63,825 SF

      Eastern Shore Centre Retail Space

      Prime Baldwin County retail/office space available.
      30500 Al-181, Spanish Fort, AL 36527
      View Details
    • $18 SF/Yr
      1,200 SF

      Retail Space in Rouses Center

      End cap retail space with drive-thru in Spanish Fort.
      6729 Spanish Fort Blvd, Spanish Fort, AL 36527
      View Details
    • $23 SF/Yr
      2,223 SF

      Eastern Shore Retail Space Available

      Prime 2,223 sq ft retail space in high-traffic shopping center.
      30500 AL-181, Spanish Fort, AL 36527
      View Details
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    500 Spanish Ft Blvd
    Spanish Fort, AL 36527-5002
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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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