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    6721 Grelot Rd Mobile, AL 36695-2691
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    6721 Grelot Rd Mobile, AL 36695-2691

    View on Map
    • Office buildings
    • 13,703 SF
    • 1.79 lot acres
    Off-Market
    Property ID
    US03-0899392
    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
    $1,645,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Roberts Brothers West : Joe Emer / Real Estate Agency
    • Brittany Reeves, REALTOR® - NextHome Gulf Coast Living / Real Estate Agency
    • Yannick Guillou, Realtor / Real Estate Agency
    • Carolyn Hasser, Roberts Brothers West / Real Estate Agency
    • The Key Team at Roberts Brothers, Inc. / Real Estate Agency

    Property Details for 6721 Grelot Rd

    Year built
    2008
    Lot size
    1.79 lot acres
    Property size
    13,703 SF
    Property type
    Office buildings
    APN
    28 09 32 2 000 001.XXX
    APU
    2809322000001XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,601,000
      Market price range: $876k - $2.33M
      AI Estimate
      $1,292,000
      Market price range: $670k - $1.84M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,495,000
      Current use
      RESTAURANT
      $2,735,000
      Change: +83% Conversion: Moderate
      MEDICAL BUILDING
      $2,645,000
      Change: +77% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,070,000
      Change: +39% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,935,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.2003
    Latitude
    30.6607
    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
    $21,859
    $68,140
    $269,960
    $338,100
    -
    $340,700
    $1,349,800
    $1,690,500

    Comparable in this City

    • Value Estimation
      $1,860,000
      11,163 SF

      3401 Newman Rd

      OFFICE BUILDING • 11,163 SF
      3401 Newman Rd, Mobile, AL 36695-8613
      View Details
    • Value Estimation
      $1,035,000
      6,500 SF

      720 Hillcrest Rd

      OFFICE BUILDING • 6,500 SF
      720 Hillcrest Rd, Mobile, AL 36695-3904
      View Details
    • Value Estimation
      $545,000
      4,104 SF

      1428 Hillcrest Rd

      OFFICE BUILDING • 4,104 SF
      1428 Hillcrest Rd, Mobile, AL 36695-3926
      View Details
    • Value Estimation
      $805,000
      10,824 SF

      2070 Schillinger S Rd

      OFFICE BUILDING • 10,824 SF
      2070 Schillinger S Rd, Mobile, AL 36695-4171
      View Details
    • Value Estimation
      $1,365,000
      11,844 SF

      7221 Grelot Rd

      OFFICE BUILDING • 11,844 SF
      7221 Grelot Rd, Mobile, AL 36695-4367
      View Details
    • Value Estimation by Request
      3,323 SF

      6414 Grelot Rd

      OFFICE BUILDING • 3,323 SF
      6414 Grelot Rd, Mobile, AL 36695-2634
      View Details

    Similar Nearby for Sale

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      Class A Office Investment Opportunity

      Updated office complex in West Mobile's desirable commercial corridor.
      1100 Hillcrest Rd, Mobile, AL 36695
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    • $1,395,000
      27,776 SF

      Prime West Mobile Office Building

      Spacious office building, ideal owner-occupant.
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    • $570,000
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      Hillcrest Park Professional Office Building

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      6417 Hillcrest Park Ct, Mobile, AL 36695
      View Details
    • Contact for pricing

      Turn-Key Office Building For Sale

      Move-in ready office building in West Mobile with excellent visibility.
      6410 Grelot Rd, Mobile, AL 36695
      View Details
    • $570,000

      Professional Building in Prime Location

      Located in a well-known professional area, great investment opportunity.
      6417 Hillcrest Park Ct, Mobile, AL 36695
      View Details
    • Contact for pricing

      Medical Office Building For Sale

      Well-maintained medical office building in a prime Mobile location.
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    Similar Nearby for Lease

    • $13 SF/Yr
      14,000 SF

      Mobile Office/Warehouse Space Available

      14,000 SF Office & Warehouse in West Mobile
      6420 Wall St, Mobile, AL 36695
      View Details
    • $16 SF/Yr
      1,630 SF

      Hillcrest Road Office Space Available

      Mobile, AL Office Suite - High Visibility
      885 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
    • $5,000 /Mo
      4,300 SF

      Mobile Office Building - Cottage Hill Rd

      Class A Office Space, High Visibility, Ample Parking
      7675 Cottage Hill Rd, 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
    • $18 SF/Yr
      3,000 SF

      Hillcrest Office Building Lease

      Modern 3,000 sq ft office space in Mobile, AL.
      1132 Hillcrest Rd, Mobile, AL 36695
      View Details
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    Mobile, AL 36695-2691
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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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