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    515 Springhill Plz Ct Mobile, AL 36608-1554
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    515 Springhill Plz Ct Mobile, AL 36608-1554

    View on Map
    • Office buildings
    • 22,062 SF
    • 1.09 lot acres
    Off-Market
    Property ID
    US03-0992868
    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
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Alabama Career Center / Business Service Center / Employment Agency
    • Southwest Alabama Partnership for Training and Employment (SWAPTE) / Business Service Center / Employment Agency
    • Nutrizone / Corporate Office

    Property Details for 515 Springhill Plz Ct

    Year built
    2003
    Lot size
    1.09 lot acres
    Property size
    22,062 SF
    Property type
    Office buildings
    APN
    28 01 12 4 000 091.001
    APU
    2801124000091001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,611,000
      Market price range: $1.41M - $3.75M
      AI Estimate
      $1,233,000
      Market price range: $919k - $2.89M

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1248
    Latitude
    30.7057
    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
    $16,964
    $33,160
    $311,620
    $344,780
    -
    $165,800
    $1,558,100
    $1,723,900

    Comparable in this City

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      $9,490,000
      73,500 SF

      739 University Blvd

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    • Value Estimation by Request
      2,362 SF

      4550 Spg Hl Ave

      OFFICE BUILDING • 2,362 SF
      4550 Spg Hl Ave, Mobile, AL 36608-5708
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    • Value Estimation by Request
      1,642 SF

      256 Wacker N Ln

      OFFICE BUILDING • 1,642 SF
      256 Wacker N Ln, Mobile, AL 36608-5820
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    • Value Estimation
      $645,000
      11,038 SF

      5905 Airport Blvd

      OFFICE BUILDING • 11,038 SF
      5905 Airport Blvd, Mobile, AL 36608-3168
      View Details
    • Value Estimation
      $640,000
      11,038 SF

      5901 Airport Blvd

      OFFICE BUILDING • 11,038 SF
      5901 Airport Blvd, Mobile, AL 36608-3169
      View Details
    • Value Estimation
      $1,210,000
      3,016 SF

      165 65th Service N Rd

      OFFICE BUILDING • 3,016 SF
      165 65th Service N Rd, Mobile, AL 36608-1202
      View Details

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    • Contact for pricing
      5,600 SF

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      Class A building ideal for retail or professional office use.
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    • $250,000
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      Commercial lot in West Mobile near Baker High School.
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      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      800 SF

      Mobile Office Space - SpringHill Ave

      800 sq ft office suite, utilities included.
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      View Details
    • $17 SF/Yr
      2,805 SF

      Mobile Office Space Available

      2805 sq ft office, NNN lease, available April 1st.
      4630 Bit And Spur Rd, Mobile, AL 36608
      View Details
    • $20 SF/Yr
      600 SF

      Mobile Office Space: Dauphin St.

      600 sq ft office, prime Springhill location.
      3660 Dauphin St, Mobile, AL 36608
      View Details
    • $18 SF/Yr
      2,700 SF

      Mobile Office Building - I-65 Access

      Prime 2700 SF Office Space for Lease
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    • $22 SF/Yr
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      Historic Mobile Office Space For Lease

      Prime location, 2562 sq ft, flexible lease.
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    • $12 SF/Yr
      3,000 SF

      Airport Blvd Office Space For Lease

      Prime Mobile, AL office building; 3,000 sq ft available.
      4728 Airport Blvd, Mobile, AL 36608
      View Details
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    Mobile, AL 36608-1554
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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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