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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5946 3rd Notch Rd Mobile, AL 36619-1611

    • Office buildings
    • 4,158 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Jun 14, 2023
    $110,000
    Value Estimations
    $150,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0628990
    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

    • Diamond-N-the Rough / Contractor

    Property Details for 5946 3rd Notch Rd

    Year built
    1979
    Lot size
    0.46 lot acres
    Property size
    4,158 SF
    Property type
    Office buildings
    APN
    33 05 21 4 002 002.XXX
    APU
    3305214002002XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $135,000
      ML approach
      $165,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $204,000
      Market price range: $193k - $556k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1796
    Latitude
    30.5895
    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
    $0.00
    $9,000
    $36,560
    $45,560
    -
    $45,000
    $182,800
    $227,800

    Comparable in this City

    • Value Estimation
      $135,000
      1,441 SF

      5945 3rd Notch Rd

      OFFICE BUILDING • 1,441 SF
      5945 3rd Notch Rd, Mobile, AL 36619-1640
      View Details
    • Value Estimation
      $555,000
      13,950 SF

      3800 Sollie Rd

      OFFICE BUILDING • 13,950 SF
      3800 Sollie Rd, Mobile, AL 36619-1453
      View Details
    • Value Estimation
      $130,000
      2,133 SF

      5420 Hwy 90th W

      OFFICE BUILDING • 2,133 SF
      5420 Hwy 90th W, Mobile, AL 36619-4216
      View Details
    • Value Estimation
      $135,000
      1,171 SF

      7200 3rd Notch Rd

      OFFICE BUILDING • 1,171 SF
      7200 3rd Notch Rd, Mobile, AL 36619-1382
      View Details
    • Value Estimation
      $335,000
      2,270 SF

      5601 Nevius Rd

      OFFICE BUILDING • 2,270 SF
      5601 Nevius Rd, Mobile, AL 36619-3901
      View Details
    • Value Estimation
      $385,000
      3,217 SF

      5555 Commerce E Blvd

      OFFICE BUILDING • 3,217 SF
      5555 Commerce E Blvd, Mobile, AL 36619-9215
      View Details

    Similar Nearby for Sale

    • $325,000
      2,585 SF

      Mobile Office Building Near I-10

      Prime location, 2400 sq ft office, near Amazon.
      4519 Cypress Business Pk Dr, Mobile, AL 36619
      View Details
    • $289,450
      1,804 SF

      Move-In Ready Retail/Office Property

      Well-maintained retail/office property with open floor plan and ample parking.
      6651 Three Notch Rd, Mobile, AL 36619
      View Details
    • $980,000
      7.50 Acres

      I-10 Frontage Commercial Land

      7.5-acre vacant land, prime I-10 location.
      0 Coca Cola Rd, Mobile, AL 36619
      View Details
    • Contact for pricing

      Retail Outparcels For Sale

      Retail outparcels available near major retailers and I-10.
      Mobile, AL 36619
      View Details
    • $2,450,000
      20,655 SF

      Industrial Office Warehouse on Acres

      Industrial office warehouse with renovated office space and laydown yard.
      5502 Todd Acres Dr, Mobile, AL 36619
      View Details
    • $449,000

      Commercial Land Near I-10

      Commercial land near I-10, accessible to major highways.
      5265 Travis Road Ext, Mobile, AL 36619
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      1,250 SF

      Mobile Office/Retail Space for Lease

      1250 sq ft, prime Mobile location. Great for your business!
      5675 Three Notch Rd, Mobile, AL 36619
      View Details
    • $9 SF/Yr
      3,900 SF

      Tillmans Corner Retail/Office Space

      3900 sq ft, NNN Lease, High Visibility
      5364 us 90, Mobile, AL 36619
      View Details
    • $12 SF/Yr
      975 SF

      Mobile Retail/Office Space Available

      Four 975 sq ft suites, flexible lease options.
      5650 Old Pascagoula Rd, Mobile, AL 36619
      View Details
    • $9 SF/Yr
      1,600 SF

      Tillmans Corner Retail/Office Suite C1

      1600 sq ft, NNN Lease, High Visibility
      5364 us 90, Mobile, AL 36619
      View Details
    • $9 SF/Yr
      3,900 SF

      Tillmans Corner Retail/Office Space

      3900 SF, NNN Lease, High Visibility
      5364 us 90, Mobile, AL 36619
      View Details
    • $7 SF/Yr
      49,000 SF

      Mobile Commerce Park Warehouse Space

      49,000 SF Flex Space - Immediate Occupancy!
      5600 Commerce Blvd E, Mobile, AL 36619
      View Details
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    5946 3rd Notch Rd
    Mobile, AL 36619-1611
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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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