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    62 Royal St Mobile, AL 36602-3204
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    62 Royal St Mobile, AL 36602-3204

    View on Map
    • Hotels
    • 100,149 SF
    • 0.59 lot acres
    Off-Market
    Property ID
    US03-0809932
    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
    $8,610,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jimmy John's / Take-out & Catering
    • Hampton Inn & Suites Mobile- Downtown Historic District / Hotel & Motel
    • Amazon Locker - Counselling / Postal Service / Courier Service

    Property Details for 62 Royal St

    Year built
    2009
    Lot size
    0.59 lot acres
    Property size
    100,149 SF
    Property type
    Hotels
    APN
    29 06 40 0 011 003.XXX
    APU
    2906400011003XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,790,000
      6.5%
      $8,115,000
      7%
      $7,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,496,000
      Market price range: $7.15M - $10.5M
      AI Estimate
      $7,217,000
      Market price range: $1.77M - $8.06M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $8,680,000
      Current use
      INDUSTRIAL (GENERAL)
      $14,135,000
      Change: +63% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,455,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0408
    Latitude
    30.6909
    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
    $106,489
    $64,120
    $2,782,400
    $2,846,520
    -
    $320,600
    $13,912,000
    $14,232,600

    Comparable in this City

    • Value Estimation
      $12,150,000
      125,147 SF

      251 Government St

      HOTEL • 125,147 SF
      251 Government St, Mobile, AL 36602-2615
      View Details
    • Value Estimation
      $505,000
      6,140 SF

      113 Monroe St

      HOTEL • 6,140 SF
      113 Monroe St, Mobile, AL 36602
      View Details
    • Value Estimation
      $4,310,000
      52,018 SF

      113 Royal St

      HOTEL • 52,018 SF
      113 Royal St, Mobile, AL 36602-3601
      View Details
    • Value Estimation
      $1,415,000
      26,391 SF

      359 Church St

      HOTEL • 26,391 SF
      359 Church St, Mobile, AL 36602-2301
      View Details
    • Value Estimation
      $5,460,000
      61,518 SF

      19 Conception St

      HOTEL • 61,518 SF
      19 Conception St, Mobile, AL 36602-2901
      View Details
    • Value Estimation by Request
      44,360 SF

      701 St Francis St

      Hotels • 44,360 SF
      701 St Francis St, Mobile, AL 36602
      View Details

    Similar Nearby for Sale

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    • $750,000
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      Historic Downtown Mobile Mixed-Use

      Prime Location, High Visibility, Huge Potential
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    • $689,000
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      Historic Downtown Mobile Office Building

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    • Contact for pricing

      Office Building with Fenced Parking

      Office property with onsite parking in an opportunity zone.
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    • Contact for pricing
      8,500 SF

      Downtown Mobile Office Building

      Office building near downtown Mobile developments and amenities.
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    • Contact for pricing
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      Downtown Mobile Historic Office Building

      Historic two-story office building in Downtown Mobile for sale.
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      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      5,681 SF

      Downtown Mobile Retail Space

      High-visibility retail space, 5,681 sq ft, prime location.
      221 Dauphin St, Mobile, AL 36602
      View Details
    • $20 SF/Yr
      2,000 SF

      Downtown Mobile Restaurant Space

      Prime 2,000 SF restaurant/bar space available. High-traffic location.
      659 Dauphin St, Mobile, AL 36602
      View Details
    • $25 SF/Yr
      6,378 SF

      Downtown Mobile Office Space For Lease

      Historic Buick Building, 6,378 SF, ground floor.
      455 St Louis St, Mobile, AL 36602
      View Details
    • $18 SF/Yr
      1,417 SF

      Downtown Mobile Executive Suites

      1,417 SF Office Space, Stunning Views
      61 St Joseph St, Mobile, AL 36602
      View Details
    • $875 /Mo
      950 SF

      Downtown Mobile Office Suite

      950 sq ft Class A Office, Short-Term Lease
      60 Saint Francis St, Mobile, AL 36602
      View Details
    • $20 SF/Yr
      9,517 SF

      Merchants Plaza Office/Retail Space

      Downtown Mobile Office & Retail Opportunity
      104 St Francis St, Mobile, AL 36602
      View Details
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    62 Royal St
    Mobile, AL 36602-3204
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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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