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

    618 Azalea Rd Mobile, AL 36609-1530

    • Commercial real estate
    • 7,663 SF
    • 0.94 lot acres
    OFF-MARKET
    Last Sale
    Aug 03, 2023
    $685,800
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0260506
    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

    • Newton Construction Inc / Construction Company
    • Custom Software Systems / Software Company

    Property Details for 618 Azalea Rd

    Year built
    1983
    Lot size
    0.94 lot acres
    Property size
    7,663 SF
    Property type
    Commercial real estate
    APN
    28 07 35 1 002 075.003
    APU
    2807351002075003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $840,000
      ML approach
      $805,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $681,000
      Market price range: $455k - $844k
      AI Estimate
      $517,000
      Market price range: $229k - $763k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $685,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,080,000
      Change: +58% Conversion: Moderate
      OFFICE BUILDING
      $735,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1465
    Latitude
    30.6553
    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
    $7,531
    $28,580
    $90,020
    $118,600
    -
    $142,900
    $450,100
    $593,000

    Comparable in this City

    • Value Estimation
      $3,935,000
      1,096 SF

      4021 Seabreeze N Rd

      COMMERCIAL (GENERAL) • 1,096 SF
      4021 Seabreeze N Rd, Mobile, AL 36609-2328
      View Details
    • Value Estimation by Request
      4,661 SF

      4308 Downtowner N Loop

      COMMERCIAL (GENERAL) • 4,661 SF
      4308 Downtowner N Loop, Mobile, AL 36609-5502
      View Details
    • Value Estimation by Request
      4,266 SF

      451 Azalea Rd

      COMMERCIAL (GENERAL) • 4,266 SF
      451 Azalea Rd, Mobile, AL 36609-1506
      View Details
    • Value Estimation by Request
      4,009 SF

      4908 Oak Cir N Dr

      COMMERCIAL (GENERAL) • 4,009 SF
      4908 Oak Cir N Dr, Mobile, AL 36609-4251
      View Details
    • Value Estimation by Request
      1,648 SF

      4045 Cottage Hl Rd

      COMMERCIAL (GENERAL) • 1,648 SF
      4045 Cottage Hl Rd, Mobile, AL 36609-4214
      View Details
    • Value Estimation by Request
      1.50 Acres

      Cottage Hl Rd @ University Blvd

      Land • 1.50 Acres
      0 Cottage Hl Rd @ University Blvd, Mobile, AL 36609
      View Details

    Similar Nearby for Sale

    • $104,000
      0.28 Acres

      Mobile Commercial Land - Grelot Rd.

      Prime West Mobile location; build your business.
      5901 Grelot Rd, Mobile, AL 36609
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    • Contact for pricing
      15.00 Acres

      Regency Acres: 15-Acre Commercial Land

      Mobile, AL Commercial Land Development Opportunity
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    • $500,000
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      University & Grelot Corner Lot

      1.47-acre commercial land, high visibility.
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    • Contact for pricing
      1.50 Acres

      Mobile Commercial Land Investment Opportunity

      Prime Mobile, AL land for sale or lease.
      0 Cottage Hl Rd @ University Blvd, Mobile, AL 36609
      View Details
    • Contact for pricing
      0.78 Acres

      Mobile Commercial Land - Airport Blvd

      High-traffic Mobile land, ideal for development.
      4645 Airport Blvd, Mobile, AL 36609
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    • $510,000
      1.45 Acres

      Mobile Commercial Land - Hillcrest

      1.45 Acres, High-Traffic Location, B-3 Zoning
      6101 Grelot Rd, Mobile, AL 36609
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    Similar Nearby for Lease

    • Contact for pricing
      7,285 SF

      Mobile Office Suites for Lease

      Ready-to-use office spaces in Mobile, AL
      413 Azalea Rd, Mobile, AL 36609
      View Details
    • $15 SF/Yr
      1,200 SF

      University Oaks Retail Space Available

      High-traffic retail space, ideal for various uses.
      1956 S University Blvd, Mobile, AL 36609
      View Details
    • $14 SF/Yr
      480 SF

      Mobile Office Suite - Azalea Park

      480 sq ft office, prime Mobile location.
      578 Azalea Rd, Mobile, AL 36609
      View Details
    • $14 SF/Yr
      2,500 SF

      University Place Office Space for Lease

      Prime 2,500 sq ft office, Mobile, AL. Great location, flexible lease.
      820 S University Blvd, Mobile, AL 36609
      View Details
    • $14 SF/Yr
      1,502 SF

      Mobile Office Space: 1502 SF

      First-floor suite, 1502 sq ft, ideal for medical or professional use.
      820 S University Blvd, Mobile, AL 36609
      View Details
    • $10 SF/Yr
      4,000 SF

      Mobile Retail Warehouse Space For Lease

      High-traffic Cottage Hill Rd. location, 4,000 SF.
      3428 Cottage Hill Road, Mobile, AL 36609
      View Details
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    618 Azalea Rd
    Mobile, AL 36609-1530
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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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