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    Property profile & analytics

    601 Providence Park E Dr Mobile, AL 36695-4617

    • Medical Office Space
    • 10,337 SF
    • 1.73 lot acres
    OFF-MARKET
    Value Estimations
    $1,285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0537372
    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

    • Providence park office plaza / Medical Clinic
    • VIP Optical / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Leonard Rich MD / Ophthalmologist
    • Southern Eye Group (formerly Vision Partners) / Physician / Ophthalmologist
    • Yaffa K Weaver MD / Ophthalmologist

    Property Details for 601 Providence Park E Dr

    Year built
    2001
    Lot size
    1.73 lot acres
    Property size
    10,337 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    28 04 20 3 000 010.004
    APU
    2804203000010004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,995,000
      Current use
      RETAIL STORES
      $2,125,000
      Change: +6% Conversion: Difficult
      RESTAURANT
      $2,065,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2025
    Latitude
    30.6808
    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
    $56,360
    $210,780
    $267,140
    -
    $281,800
    $1,053,900
    $1,335,700

    Comparable in this City

    • Value Estimation
      $655,000
      5,146 SF

      7860 Cottage Hl Rd

      MEDICAL BUILDING • 5,146 SF
      7860 Cottage Hl Rd, Mobile, AL 36695-4102
      View Details
    • Value Estimation by Request
      2,697 SF

      1155 Hillcrest Rd

      MEDICAL BUILDING • 2,697 SF
      1155 Hillcrest Rd, Mobile, AL 36695-3921
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    • Value Estimation by Request
      2,332 SF

      1516 Schillinger S Rd

      MEDICAL BUILDING • 2,332 SF
      1516 Schillinger S Rd, Mobile, AL 36695-8933
      View Details
    • Value Estimation
      $5,100,000
      14,430 SF

      6908 Providence Park S Dr

      MEDICAL BUILDING • 14,430 SF
      6908 Providence Park S Dr, Mobile, AL 36695-4600
      View Details
    • Value Estimation
      $710,000
      6,280 SF

      1100 Hillcrest Rd

      MEDICAL BUILDING • 6,280 SF
      1100 Hillcrest Rd, Mobile, AL 36695-4043
      View Details
    • Value Estimation by Request
      2,545 SF

      1432 Hillcrest Rd

      MEDICAL BUILDING • 2,545 SF
      1432 Hillcrest Rd, Mobile, AL 36695-3926
      View Details

    Similar Nearby for Sale

    • $899,900
      5,409 SF

      Freestanding Medical Office on Hillcrest

      Medical office building on high-traffic Hillcrest Road.
      1605 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $1,095,000
      5,056 SF

      West Mobile Medical Office Building

      Prime Medical Office, High Traffic Area
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    • $3,361,921
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      Mobile Urgent Care Center Investment

      High-yield, NNN-leased medical property.
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    • $1,800,000
      13.40 Acres

      Land Approved for Assisted Living

      13.4+ acre parcel pre-approved for assisted living complex.
      2316 Leroy Stevens Rd, Mobile, AL 36695
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    • $900,000
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      Hillcrest Road Commercial Opportunity

      Commercial property on Hillcrest Road suitable for business or medical offices.
      1565 Hillcrest Rd, Mobile, AL 36695
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    • $725,000
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      Updated Office Complex in Mobile

      Income-producing office complex in desirable West Mobile commercial corridor.
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    Similar Nearby for Lease

    • Contact for pricing
      5,956 SF

      Office Space on Hillcrest Road

      5,956 SF office space, previously a health and wellness practice.
      876 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $18 SF/Yr
      3,000 SF

      Hillcrest Office Building For Lease

      Mobile, AL Medical/Office Space
      1132 Hillcrest Rd, Mobile, AL 36695
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    • $7,875 /Mo
      37,610 SF

      Hillcrest Road Commercial Office Space

      Commercial building suitable for business or medical office use.
      1565 Hillcrest Rd, Mobile, AL 36695
      View Details
    • Contact for pricing
      6,800 SF

      Medical Office Near Providence Hospital

      6,800 SF medical office space in West Mobile.
      610 Providence Park Dr E, Mobile, AL 36695
      View Details
    • $14 SF/Yr
      5,956 SF

      West Mobile Office Space For Lease

      Spacious Office Suite, Ideal for Medical or General Office Use
      876 Hillcrest Rd, Mobile, AL 36695
      View Details
    • $13 SF/Yr
      3,469 SF

      Prime West Mobile Office Space

      3,469 SF Office Building - Sale/Lease
      1111 Hillcrest Rd, Mobile, AL 36695
      View Details
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    601 Providence Park E Dr
    Mobile, AL 36695-4617
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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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