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    244 McKenna Ct Mobile, AL 36695

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    244 McKenna Ct Mobile, AL 36695

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    Property Details for 244 McKenna Ct

    Property type
    Land
    Property subtype
    Residential land & home lots

    Description

    This exceptional 0.7-acre commercial lot is situated in Mobile, Alabama, at 244 McKenna Ct, 36695. Conveniently located just south of Airport Boulevard, between Schillinger and Cody Roads, this property boasts excellent visibility and accessibility. Its prime location offers significant development potential for a variety of commercial or mixed-use projects. The expansive 0.7-acre parcel presents a unique opportunity for businesses seeking a high-traffic location with strong visibility. The lot's size allows for considerable flexibility in design and development, catering to a wide range of commercial ventures. This is an ideal location for businesses seeking to establish a strong presence in a thriving area of Mobile. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The property is zoned for commercial use, although buyers should conduct their own due diligence to verify zoning and permitted uses. This is a rare opportunity to acquire a sizable commercial lot in a desirable Mobile location. Don't miss out on this chance to build your business in a high-growth area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    State
    Alabama

    Comparable in this City

    • $599,900
      7.50 Acres

      Cleared Land Ready for Development

      Approximately 8 acres of level, cleared land ready for development.
      8391 Jeff Hamilton Road Ext, Mobile, AL 36695
      View Details
    • $599,900

      Cleared Land Ready for Development

      Approximately 8 acres of level, cleared land ready for development.
      8391 Jeff Hamilton Road Ext, Mobile, AL 36695
      View Details
    • $1,750,000

      Multifamily Land on Grelot Road

      9.3 acre multifamily zoned land with existing improvements.
      6512 Grelot Rd, Mobile, AL 36695
      View Details
    • Contact for pricing

      Raw Land on Snow Road

      Raw land available on Snow Road near Howells Ferry.
      Snow Rd N, Mobile, AL 36695
      View Details
    • Contact for pricing
      83,000 SF

      Land Available on Grelot Road

      Land for sale with high traffic and visibility.
      7131 Grelot Rd, Mobile, AL 36695
      View Details
    • $257,125

      Land For Sale

      Land available for sale.
      7930 Old Government Street Rd, Mobile, AL 36695
      View Details

    Similar Nearby for Sale

    • $599,900
      7.50 Acres

      Cleared Land Ready for Development

      Approximately 8 acres of level, cleared land ready for development.
      8391 Jeff Hamilton Road Ext, Mobile, AL 36695
      View Details
    • $599,900

      Cleared Land Ready for Development

      Approximately 8 acres of level, cleared land ready for development.
      8391 Jeff Hamilton Road Ext, Mobile, AL 36695
      View Details
    • $1,750,000

      Multifamily Land on Grelot Road

      9.3 acre multifamily zoned land with existing improvements.
      6512 Grelot Rd, Mobile, AL 36695
      View Details
    • Contact for pricing

      Raw Land on Snow Road

      Raw land available on Snow Road near Howells Ferry.
      Snow Rd N, Mobile, AL 36695
      View Details
    • Contact for pricing
      83,000 SF

      Land Available on Grelot Road

      Land for sale with high traffic and visibility.
      7131 Grelot Rd, Mobile, AL 36695
      View Details
    • $257,125

      Land For Sale

      Land available for sale.
      7930 Old Government Street Rd, Mobile, AL 36695
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      172,498 SF

      Prime Mobile, AL Land for Lease

      Cottage Hill & McFarland redevelopment opportunity.
      9201 Cottage Hill Rd, Mobile, AL 36695
      View Details
    • $3 SF/Yr
      10,000 SF

      Schillinger Place Land - 10,000 SF

      Prime Mobile, AL land for lease; build-to-suit opportunity.
      2502 Schillinger Rd S, Mobile, AL 36695
      View Details
    • $140,000
      53,255 SF

      Brewer Center Outparcel - Schillinger Rd

      1.35-acre commercial lot, prime Schillinger Rd location.
      7760 Hitt Road, Mobile, AL 36695
      View Details
    • Contact for pricing

      Corner Land for Redevelopment

      Redevelopment opportunity near Publix and DR Horton subdivision.
      9201 Cottage Hill Rd, Mobile, AL 36695
      View Details
    • $25 SF/Yr

      Grelot Road Commercial Land Available

      Commercial land on Grelot Road, build-to-suit opportunity.
      6740 Grelot Rd, Mobile, AL 36695
      View Details
    • Contact for pricing

      Commercial Land on Schillinger Road

      Approximately 1.71 acres with high traffic count available for lease.
      610 Schillinger Rd S, Mobile, AL 36695
      View Details
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    244 McKenna Ct
    Mobile, AL 36695
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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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