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    5600 Spice Pond Rd Eight Mile, AL 36613
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    Property profile & analytics

    5600 Spice Pond Rd, Eight Mile, AL 36613

    View on Map
    • Grocery and convenience stores
    • 3,618 SF
    • 0.73 lot acres
    Off-Market
    Property ID
    US03-0463196
    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
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 5600 Spice Pond Rd

    Year built
    1992
    Lot size
    0.73 lot acres
    Property type
    Grocery and convenience stores
    APN
    24 01 02 0 001 069.XXX
    APU
    2401020001069XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $523,000
      Market price range: $523k - $1.45M
      AI Estimate
      $377,000
      Market price range: $378k - $853k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $605,000
      RETAIL STORES
      $355,000
      OFFICE BUILDING
      $345,000
      COMMERCIAL (GENERAL)
      $335,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Eight Mile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.252
    Latitude
    30.8082
    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
    $2,444
    $8,220
    $42,180
    $50,400
    -
    $41,100
    $210,900
    $252,000

    Comparable in this City

    • Value Estimation
      $1,725,000
      2,812 SF

      5957 Hwy 45

      CONVENIENCE STORE
      5957 Hwy 45, Eight Mile, AL 36613-9671
      View Details
    • Value Estimation by Request
      2,168 SF

      5011 Lott Rd

      CONVENIENCE STORE
      5011 Lott Rd, Eight Mile, AL 36613-3637
      View Details
    • Value Estimation
      $725,000
      5,432 SF

      8468 Hwy 45

      CONVENIENCE STORE
      8468 Hwy 45, Eight Mile, AL 36613-8744
      View Details
    • Value Estimation by Request
      1,024 SF

      2561 Shelton Bch Rd

      CONVENIENCE STORE
      2561 Shelton Bch Rd, Eight Mile, AL 36613-3401
      View Details
    • Value Estimation
      $725,000
      1,756 SF

      4601 Saint Stephens Rd

      CONVENIENCE STORE
      4601 Saint Stephens Rd, Eight Mile, AL 36613-3510
      View Details
    • Value Estimation by Request
      2,315 SF

      6125 Spice Pond Rd

      CONVENIENCE STORE
      6125 Spice Pond Rd, Eight Mile, AL 36613-8409
      View Details

    Similar Nearby for Sale

    • $425,000
      2,315 SF

      Eight Mile Commercial Opportunity

      2.28-acre commercial property with high visibility and easy access.
      6125 Spice Pond Rd, Eight Mile, AL 36613
      View Details
    • Contact for pricing

      Prime Commercial Property For Sale

      2.28 +/- acre commercial property with high visibility.
      6125 Spice Pond Rd, Eight Mile, AL 36613
      View Details
    • $249,900
      4,635 SF

      Eight Mile Commercial Investment Opportunity

      Spacious building with roll-up doors and studio apartment.
      6143 Highway 45, Eight Mile, AL 36613
      View Details
    • $450,000
      2,764 SF

      Eight Mile Commercial Land Investment

      High-visibility, unrestricted 2.29-acre lot.
      6125 Spice Pond Rd, Eight Mile, AL 36613
      View Details
    • Contact for pricing
      6,800 SF

      Retail Strip Center For Sale

      Neighborhood retail strip center in high-traffic area with strong visibility.
      4409 Saint Stephens Rd, Eight Mile, AL 36613
      View Details
    • $340,000
      3.23 Acres

      Prime Mobile, AL Commercial Land

      High-visibility lot, ideal for business development.
      3825 Lott Rd, Eight Mile, AL 36613
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Grocery Anchored Shopping Center Space

      Established shopping center with retail space for lease.
      4725-4739 St Stephens Rd, Prichard, AL 36613
      View Details
    • $2,300 /Mo
      1,964 SF

      Prime Eight Mile Office Space

      High-visibility corner lot office, 1964 sq ft.
      4546 Saint Stephens Rd, Eight Mile, AL 36613
      View Details
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    Eight Mile, AL 36613
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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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    5600 Spice Pond Rd, Eight Mile, AL, 36613
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