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

    Mobile, AL 36608

    • Medical offices
    • 8,328 SF
    • 1.09 lot acres
    OFF-MARKET
    Last Sale
    Oct 04, 2021
    $1,000,000
    Value Estimations
    $1,475,000
    Show details
    Cap Rate Potential
    9%
    Medical offices
    Location Intelligence
    Property ID
    US03-0819407
    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

    • Medical offices

    Property Details

    Year built
    1977
    Lot size
    1.09 lot acres
    Property size
    8,328 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    28 05 21 1 000 088.001
    APU
    2805211000088001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,260,000
      ML approach
      $1,210,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,885,000
      6.5%
      $1,740,000
      7%
      $1,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,655,000
      Market price range: $1.01M - $2.22M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,610,000
      Current use
      RETAIL STORES
      $1,710,000
      Change: +6% Conversion: Difficult
      RESTAURANT
      $1,665,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1741
    Latitude
    30.6878
    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
    $12,572
    $33,240
    $164,740
    $197,980
    -
    $166,200
    $823,700
    $989,900

    Comparable in this City

    • Value Estimation
      $250,000
      1,048 SF

      613 Shady Oak Dr

      MEDICAL BUILDING • 1,048 SF
      613 Shady Oak Dr, Mobile, AL 36608
      View Details
    • Value Estimation
      $370,000
      2,740 SF

      3664 College S Ln

      MEDICAL BUILDING • 2,740 SF
      3664 College S Ln, Mobile, AL 36608-1240
      View Details
    • Value Estimation
      $760,000
      3,761 SF

      4626 Bit And Spur Rd

      MEDICAL BUILDING • 3,761 SF
      4626 Bit And Spur Rd, Mobile, AL 36608-2646
      View Details
    • Value Estimation
      $355,000
      2,546 SF

      4720 Airport Blvd

      MEDICAL BUILDING • 2,546 SF
      4720 Airport Blvd, Mobile, AL 36608-3134
      View Details
    • Value Estimation
      $355,000
      3,028 SF

      Mobile, AL 36608

      MEDICAL BUILDING • 3,028 SF
      Mobile, AL 36608
      View Details
    • Value Estimation
      $300,000
      1,388 SF

      3664 Old Shell Rd

      MEDICAL BUILDING • 1,388 SF
      3664 Old Shell Rd, Mobile, AL 36608-1311
      View Details

    Similar Nearby for Sale

    • $3,297,000
      7,236 SF

      Established Medical Office Building For Sale

      Long-term tenants, strong demographics, and ideal location near USA Health.
      9985 Airport Blvd, Mobile, AL 36608
      View Details
    • $895,000
      7,914 SF

      Mobile, AL Office Complex

      Three buildings, 7,914 sq ft, 1.43 acres
      3483 Spring Hill Ave, Mobile, AL 36608
      View Details
    • $200,000
      3,175 SF

      Commercial Property Repurposing Opportunity

      Commercial property for sale with repurposing potential and ample land.
      7380 Zeigler Cir S, Mobile, AL 36608
      View Details
    • $995,000
      6,181 SF

      Prime Airport Blvd Commercial Space

      West Mobile, AL - High-Visibility Location
      8461 Airport Blvd, Mobile, AL 36608
      View Details
    • $850,000
      14,900 SF

      Mobile Office Warehouse Investment Opportunity

      Spacious Office & Warehouse in Mobile, AL
      Airway Park Drive, Mobile, AL 36608
      View Details
    • $250,000
      8,892 SF

      Mobile Executive Office & Warehouse

      8,892 SF Office/Warehouse, $250K
      7726 Mckinley Ave, Mobile, AL 36608
      View Details

    Similar Nearby for Lease

    • $4,800 /Mo
      3,742 SF

      Mobile Veterinarian Clinic - Suite A

      Prime Mobile vet clinic, 3742 SF, NNN lease.
      75 Schillinger Rd N, Mobile, AL 36608
      View Details
    • Contact for pricing
      167,193 SF

      McGregor Square Medical Office Space

      Mobile, AL Retail & Medical Office Opportunity
      3930 Airport Blvd, Mobile, AL 36608
      View Details
    • $11 SF/Yr
      5,143 SF

      West Mobile Office Building

      Versatile Office Space, West Mobile
      207 Tanner Williams Ct, Mobile, AL 36608
      View Details
    • $15 SF/Yr
      47,331 SF

      Springhill Plaza Medical Office Space

      Mobile, AL Medical Office Suites Available
      3450 Spring Hill Ave, Mobile, AL 36608
      View Details
    • $15 SF/Yr
      10,000 SF

      Mobile Retail/Medical Space Available

      Prime Mobile location, flexible space, NNN lease.
      3450 Spring Hill Ave, Mobile, AL 36608
      View Details
    • $15 SF/Yr
      2,280 SF

      Airport Blvd Commercial Space Available

      Office, medical, or retail space on Mobile's busiest corridor.
      4742 Airport Blvd, Mobile, AL 36608
      View Details
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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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