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

    79 Midtown E Park Mobile, AL 36606-4141

    • Medical offices
    • 2,703 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Oct 06, 2024
    $447,500
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    6.4%
    Medical offices
    Location Intelligence
    Property ID
    US03-0670635
    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

    • Midtown Family Dental / Dentist
    • Blackman & Waltman / Dentist
    • Trey E Waltman / Dentist
    • Donald Waltman / Dentist

    Property Details for 79 Midtown E Park

    Year built
    2002
    Lot size
    0.42 lot acres
    Property size
    2,703 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    29 08 19 2 001 029.XXX
    APU
    2908192001029XXX

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $580,000
      ML approach
      $545,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $610,000
      6.5%
      $565,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $584,000
      Market price range: $328k - $722k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $520,000
      Current use
      RETAIL STORES
      $555,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1192
    Latitude
    30.6867
    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
    $4,390
    $14,640
    $54,500
    $69,140
    -
    $73,200
    $272,500
    $345,700

    Comparable in this City

    • Value Estimation
      $430,000
      2,128 SF

      2805 Airport Blvd

      MEDICAL BUILDING • 2,128 SF
      2805 Airport Blvd, Mobile, AL 36606-2304
      View Details
    • Value Estimation
      $490,000
      10,634 SF

      2870 Dauphin St

      MEDICAL BUILDING • 10,634 SF
      2870 Dauphin St, Mobile, AL 36606
      View Details
    • Value Estimation
      $360,000
      10,763 SF

      1991 Halls Ml Rd

      MEDICAL BUILDING • 10,763 SF
      1991 Halls Ml Rd, Mobile, AL 36606
      View Details
    • Value Estimation
      $740,000
      27,618 SF

      2868 Dauphin St

      MEDICAL BUILDING • 27,618 SF
      2868 Dauphin St, Mobile, AL 36606
      View Details
    • Value Estimation
      $540,000
      10,366 SF

      70 Midtown E Park

      MEDICAL BUILDING • 10,366 SF
      70 Midtown E Park, Mobile, AL 36606-4140
      View Details
    • Value Estimation
      $420,000
      2,485 SF

      116 Florida St

      MEDICAL BUILDING • 2,485 SF
      116 Florida St, Mobile, AL 36606-1955
      View Details

    Similar Nearby for Sale

    • $600,000
      3,696 SF

      Historic Mobile Office Building

      Midtown Mobile, Class A Office Space
      1916 Airport Blvd, Mobile, AL 36606
      View Details
    • $550,000
      3,284 SF

      Midtown Mobile Class A Office

      Executive/Medical Office, Climate-Controlled Garage
      725 Executive Park Dr, Mobile, AL 36606
      View Details
    • $1,758,500
      44,917 SF

      Mobile Office Building Investment Opportunity

      Prime Mobile location, renovated, ample parking.
      501 Bel Air Blvd, Mobile, AL 36606
      View Details
    • $12,000,000
      124,245 SF

      Bel Air Office Complex: Investment Opportunity

      Class B Office Complex, Mobile, AL. High Occupancy.
      3100 Cottage Hill Road, Mobile, AL 36606
      View Details
    • $699,000
      16,900 SF

      Executive Park Office Building

      Mobile, AL Office Space - $699,000
      801 Executive Park Dr, Mobile, AL 36606
      View Details
    • $12,000,000
      92,188 SF

      Bel Air Office Complex: Investment Opportunity

      Class B Office Complex, Mobile, AL. High Occupancy, Ample Parking.
      3100 Cottage Hill Road, Mobile, AL 36606
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      9,000 SF

      Midtown Park Executive Office Space

      9,000 SF Office, Fully Furnished
      67 Midtown Park, Mobile, AL 36606
      View Details
    • $15 SF/Yr
      9,000 SF

      Dauphin Street Office Space Available

      Prime Medical/Office Space, I-65 Access
      3153 Dauphin St, Mobile, AL 36606
      View Details
    • $14 SF/Yr
      6,654 SF

      Midtown Park Office Space Available

      Modern Mobile Office & Warehouse
      22 Midtown Park W, Mobile, AL 36606
      View Details
    • $14 SF/Yr
      1,875 SF

      Dauphin Street Office Space Available

      Modern Mobile Office Suite, 1875 sq ft.
      2866 Dauphin St, Mobile, AL 36606
      View Details
    • $18 SF/Yr
      1,188 SF

      Mobile Office Space For Lease

      Prime Mobile office suite, 1188 sq ft.
      3280 Dauphin St, Mobile, AL 36606
      View Details
    • $18 SF/Yr
      1,102 SF

      Dauphin Street Office Suite Available

      Modern Mobile, AL office space for lease.
      3280 Dauphin St, Mobile, AL 36606
      View Details
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    79 Midtown E Park
    Mobile, AL 36606-4141
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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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