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    702 University Blvd Mobile, AL 36609-2914
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    702 University Blvd Mobile, AL 36609-2914

    View on Map
    • Grocery and convenience stores
    • 2,740 SF
    • 1.29 lot acres
    Off-Market
    Property ID
    US03-1437123
    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
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chevron / Auto Repair Shop
    • RockItCoin Bitcoin ATM / Crypto Atm

    Property Details for 702 University Blvd

    Year built
    2002
    Lot size
    1.29 lot acres
    Property size
    2,740 SF
    Property type
    Grocery and convenience stores
    APN
    28 08 27 3 000 084.006
    APU
    2808273000084006

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $645,000
      Market price range: $286k - $646k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $460,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1691
    Latitude
    30.664
    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
    $9,489
    $66,740
    $78,280
    $145,020
    -
    $333,700
    $391,400
    $725,100

    Comparable in this City

    • Value Estimation
      $500,000
      2,145 SF

      379 Azalea Rd

      CONVENIENCE STORE • 2,145 SF
      379 Azalea Rd, Mobile, AL 36609-1963
      View Details
    • Value Estimation
      $520,000
      2,273 SF

      1401 Knollwood Dr

      CONVENIENCE STORE • 2,273 SF
      1401 Knollwood Dr, Mobile, AL 36609-2530
      View Details
    • Value Estimation by Request
      2,117 SF

      854 Downtowner Blvd

      CONVENIENCE STORE • 2,117 SF
      854 Downtowner Blvd, Mobile, AL 36609-5426
      View Details
    • Value Estimation by Request
      1,760 SF

      507 Azalea Rd

      CONVENIENCE STORE • 1,760 SF
      507 Azalea Rd, Mobile, AL 36609-1501
      View Details
    • Value Estimation
      $870,000
      3,555 SF

      1254 Montlimar Dr

      CONVENIENCE STORE • 3,555 SF
      1254 Montlimar Dr, Mobile, AL 36609-1711
      View Details
    • Value Estimation by Request
      1,529 SF

      950 Montlimar Dr

      CONVENIENCE STORE • 1,529 SF
      950 Montlimar Dr, Mobile, AL 36609-1705
      View Details

    Similar Nearby for Sale

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      Mobile Office/Retail Plaza Investment

      Six-unit plaza, leased, strong ROI potential.
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    • $835,000
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      Office Warehouse on Azalea Road

      17,985 SF office warehouse suitable for retail or warehouse uses.
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      Adorable cottage ideal for retail, office, or salon.
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    • $699,000
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      Retail/Warehouse Building with Ample Parking

      Leased retail/warehouse building with drive-in door and ample parking.
      3920 Cottage Hill Rd, Mobile, AL 36609
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      Renovated Restaurant with Owner Financing

      Completely renovated restaurant with new equipment and owner financing.
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    • Contact for pricing
      17,985 SF

      Office Warehouse with Retail Frontage

      17,985 SF office warehouse suitable for various uses.
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space in Grocery Anchored Center

      Retail space available in a Walmart Neighborhood Grocery anchored center.
      1956 S University Blvd, 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
    • Contact for pricing
      2,846 SF

      Downtowner Blvd Retail/Office Space

      Retail and office spaces available on Downtowner Blvd.
      798 Downtowner Blvd, Mobile, AL 36609
      View Details
    • $12 SF/Yr
      16,851 SF

      Mobile Big Box Retail Space

      Large retail space, ideal for various uses.
      300 Azalea Cir W, Mobile, AL 36609
      View Details
    • $980 /Mo
      29,320 SF

      Downtowner Loop Retail/Office Space

      Retail or office space in a high-traffic Mobile location.
      750 Downtowner Loop W, Mobile, AL 36609
      View Details
    • Contact for pricing
      6,252 SF

      Prime Retail Space Available

      High-visibility retail space with significant foot traffic near I-65.
      840 Montlimar Dr, Mobile, AL 36609
      View Details
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    702 University Blvd
    Mobile, AL 36609-2914
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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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