Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    508 Springhill Plz Ct Mobile, AL 36608-1554

    • Hotels
    • 42,973 SF
    • 2.15 lot acres
    OFF-MARKET
    Value Estimations
    $2,450,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0769381
    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

    • Extended Stay America - Mobile - Spring Hill / Hotel & Motel / Vacation Rental

    Property Details for 508 Springhill Plz Ct

    Year built
    1997
    Lot size
    2.15 lot acres
    Property size
    42,973 SF
    Property type
    Hotels
    APN
    28 06 37 1 001 001.004
    APU
    2806371001001004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,022,000
      Market price range: $758k - $3.46M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,725,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1238
    Latitude
    30.7051
    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
    $36,485
    $130,980
    $666,740
    $797,720
    -
    $654,900
    $3,333,700
    $3,988,600

    Comparable in this City

    • Value Estimation
      $3,495,000
      46,848 SF

      516 Springhill Plz Ct

      HOTEL • 46,848 SF
      516 Springhill Plz Ct, Mobile, AL 36608-1554
      View Details
    • Value Estimation
      $3,910,000
      55,906 SF

      150 65th Service S Rd

      HOTEL • 55,906 SF
      150 65th Service S Rd, Mobile, AL 36608-5900
      View Details
    • Value Estimation
      $5,480,000
      64,724 SF

      3655 Springhill Memorial N Dr

      HOTEL • 64,724 SF
      3655 Springhill Memorial N Dr, Mobile, AL 36608-1125
      View Details
    • Value Estimation
      $2,220,000
      31,912 SF

      156 65th Service S Rd

      HOTEL • 31,912 SF
      156 65th Service S Rd, Mobile, AL 36608-5900
      View Details
    • Value Estimation
      $3,870,000
      43,610 SF

      3650 Airport Blvd

      HOTEL • 43,610 SF
      3650 Airport Blvd, Mobile, AL 36608-1616
      View Details
    • Value Estimation by Request
      62,512 SF

      3630 Springhill Memorial S Dr

      HOTEL • 62,512 SF
      3630 Springhill Memorial S Dr, Mobile, AL 36608-1197
      View Details

    Similar Nearby for Sale

    • $4,950,000
      5.20 Acres

      Mobile Commercial Redevelopment Opportunity

      5.2 Acres, 48,000 SF, Motivated Seller
      6819 Old Shell Rd, Mobile, AL 36608
      View Details
    • Contact for pricing
      85 SF

      New Student Housing Community

      Purpose-built student housing community near the University of South Alabama.
      6640 Old Shell Rd, Mobile, AL 36608
      View Details
    • $499,000

      Mobile Airport Commercial Land

      9 Acres, Development-Ready, High Visibility
      0 Airport Blvd, Mobile, AL 36608
      View Details
    • $850,000

      Airport Blvd Commercial Land

      Prime Mobile, AL Retail Lot
      7400 Airport Blvd, Mobile, AL 36608
      View Details
    • $236,250
      35.00 Acres

      35-Acre Mobile County Land

      Prime residential development land near Airport Blvd.
      100 Dykes Rd, Mobile, AL 36608
      View Details
    • $5,700,000

      38 Acres in West Mobile

      Unzoned 38-acre tract in West Mobile near airport.
      8561 Airport Blvd, Mobile, AL 36608
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      10,000 SF

      Mobile Retail/Medical Space Available

      Prime Mobile location, flexible space, NNN lease.
      3450 Spring Hill Ave, Mobile, AL 36608
      View Details
    • $18 SF/Yr
      1,200 SF

      Airport Blvd Retail Space Available

      High-traffic Mobile, AL retail space for lease.
      9948 Airport Boulevard, Mobile, AL 36608
      View Details
    • $25 SF/Yr
      1,600 SF

      Spring Hill Retail Space - Lease Now

      High-visibility retail space, ideal location.
      4504 Old Shell Rd, Mobile, AL 36608
      View Details
    • $50,000
      50,007 SF

      Prime Mobile, AL Land Lease Opportunity

      1.39-acre lot, high-traffic location.
      5559 Old Shell Rd, Mobile, AL 36608
      View Details
    • $26 SF/Yr
      1,500 SF

      Springhill Village Retail Space

      1500 sq ft retail space, prime Mobile location.
      4350 Old Shell Rd, Mobile, AL 36608
      View Details
    • $22 SF/Yr
      2,562 SF

      Historic Mobile Office Space For Lease

      Prime location, 2562 sq ft, flexible lease.
      3703 Old Shell Rd, Mobile, AL 36608
      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.
    508 Springhill Plz Ct
    Mobile, AL 36608-1554
    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

    Google sign-in failed. Please try again or use another login method.