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    5901 Grelot Rd Mobile, AL 36609

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    5901 Grelot Rd Mobile, AL 36609

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    • Medical Office Space
    • 3,985 SF
    • 0.30 lot acres
    For Sale
    $104,000
    View Listing →
    0.28 Acres Land For Sale For Sale
    $104,000
    12,075 SF

    0.28 Acres Land For Sale

    0.28 Acres Land For Sale

    5901 Grelot Rd, Mobile, AL 36609
    View Listing
    Property ID
    US03-1211212
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bay Area Oral Surgery & Dental Implants / Dental Office
    • Robert C. Pfeffle, DMD / Dental Office
    • Dr. Matt Zieman / Dental Office
    • Matthew Zieman / Dental Office
    • Zieman Gregory A DMD / Dental Office

    Property Details for 5901 Grelot Rd

    Year built
    2013
    Lot size
    0.30 lot acres
    Property size
    3,985 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    28 08 33 1 000 071.002
    APU
    2808331000071002

    Description

    This exceptional 0.28-acre commercial lot, located at 5901 Grelot Road in Mobile, Alabama, presents a unique opportunity for development. Situated in a high-traffic area with a daily count of 24,060 vehicles, this property boasts 125 feet of prominent frontage on Grelot Road, ensuring excellent visibility for any business. The lot is already cleared and level, simplifying the development process and minimizing upfront costs. Its B-3 Community Business zoning allows for a wide range of commercial uses, including professional offices, medical facilities, and retail establishments. The property is surrounded by a dense residential population, providing a ready-made customer base. All necessary utilities are readily available, making this a truly turnkey opportunity. Offered at $104,000, this fee simple ownership provides a solid investment in a prime West Mobile location. Don't miss this chance to establish your business in a thriving community. The property's address is 5901 Grelot Rd, Mobile, AL 36609, in Mobile County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $900,000
      6.5%
      $835,000
      7%
      $775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $561,000
      Market price range: $287k - $611k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $770,000
      Current use
      RETAIL STORES
      $820,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1793
    Latitude
    30.6606
    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
    $8,237
    $16,120
    $112,560
    $128,680
    -
    $80,600
    $562,800
    $643,400

    Comparable in this City

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    • Value Estimation
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      1575 University Blvd

      MEDICAL BUILDING • 5,339 SF
      1575 University Blvd, Mobile, AL 36609-2958
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    • Value Estimation
      $690,000
      3,812 SF

      5901 Grelot Rd

      MEDICAL BUILDING • 3,812 SF
      5901 Grelot Rd, Mobile, AL 36609-3603
      View Details
    • Value Estimation
      $635,000
      4,599 SF

      5612 Cottage Hl Rd

      MEDICAL BUILDING • 4,599 SF
      5612 Cottage Hl Rd, Mobile, AL 36609-4211
      View Details
    • Value Estimation by Request
      1,974 SF

      6217 Cottage Hl Rd

      MEDICAL BUILDING • 1,974 SF
      6217 Cottage Hl Rd, Mobile, AL 36609-3109
      View Details
    • Value Estimation
      $1,380,000
      5,240 SF

      900 Montlimar Dr

      MEDICAL BUILDING • 5,240 SF
      900 Montlimar Dr, Mobile, AL 36609-1705
      View Details

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      Mobile Office Space: University Blvd

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      Mobile Medical Building - For Sale/Lease

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    View Listing
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    5901 Grelot Rd
    Mobile, AL 36609
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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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