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    Property profile & analytics

    Old Shell Rd Mobile, AL 36608

    • Commercial land
    • 2.53 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1445257
    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

    • Commercial land

    Property Details for Old Shell Rd

    Lot size
    2.53 lot acres
    Property type
    Commercial land
    APN
    28 05 21 1 000 001.02X
    APU
    280521100000102X

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.18
    Latitude
    30.6904
    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
    $0.00
    $34,300
    $0.00
    $34,300
    -
    $171,500
    $0.00
    $171,500

    Comparable in this City

    • Value Estimation by Request

      1 - 3.4 Acres Land For Sale (NINETEEN LOTS HAVE ALREADY SOLD)

      1 - 3.4 Acres Land For Sale (NINETEEN LOTS HAVE ALREADY SOLD)
      Hampton Ridge Court, Mobile, AL 36608
      View Details
    • Value Estimation by Request

      4.1 AC Hard Corner Development Site For Sale on Airport Blvd!

      Northeast Corner of Airport Blvd and Eliza Jordan Rd
      Northeast Corner of Airport Blvd and Eliza Jordan Rd, Mobile, AL 36608
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    • Value Estimation by Request
      0.68 Acres

      7841 Tanner Williams Rd

      VACANT COMMERCIAL LAND • 0.68 Acres
      7841 Tanner Williams Rd, Mobile, AL 36608
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    • Value Estimation by Request
      0.79 Acres

      University N Blvd

      VACANT COMMERCIAL LAND • 0.79 Acres
      University N Blvd, Mobile, AL 36608
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    • Value Estimation by Request
      1.02 Acres

      465 Snow S Rd

      VACANT COMMERCIAL LAND • 1.02 Acres
      465 Snow S Rd, Mobile, AL 36608-8447
      View Details
    • Value Estimation by Request
      0.58 Acres

      3475 Spg Hl Ave

      VACANT COMMERCIAL LAND • 0.58 Acres
      3475 Spg Hl Ave, Mobile, AL 36608-1522
      View Details

    Similar Nearby for Sale

    • $5,700,000

      38 Acres in West Mobile

      Unzoned 38-acre tract in West Mobile near airport.
      8561 Airport Blvd, Mobile, AL 36608
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    • $134,900
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      Prime Commercial Land on Old Shell

      High-exposure commercial land with frontage on Old Shell Road.
      7767 Old Shell Rd, Mobile, AL 36608
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    • $225,000
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      Schillinger Road Corner Lot Investment

      High-traffic corner lot, ready for development.
      152 Schillinger Rd, Mobile, AL 36608
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    • $125,000

      Land with Schillinger Road Access

      Commercial land suitable for an office user needing visibility.
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    • $115,000

      Zeigler Airport Commercial Park Land

      Raw land available in Zeigler Airport Commercial Park.
      Zeigler Blvd, Mobile, AL 36608
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    • $1,900,000

      West Mobile Development Opportunity

      Conveniently located lot ideal for retail or mixed-use development.
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    Similar Nearby for Lease

    • $50,000
      50,007 SF

      Prime Mobile, AL Land Lease Opportunity

      1.39-acre lot, high-traffic location.
      5559 Old Shell Rd, Mobile, AL 36608
      View Details
    • $50,000
      4,500 SF

      Prime Mobile Outparcel Land Lease

      High-visibility land, ideal for retail. 4,500 sq ft, excellent location.
      312 Schillinger Road, Mobile, AL 36608
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    • $125,000
      25,264 SF

      Mobile Commercial Land Lease Opportunity

      High-traffic location, 0.58 acres, $125,000 annually.
      10 N University Blvd, Mobile, AL 36608
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    • $125,000

      Land for Lease in Mobile

      3.3 acres of land available for lease.
      Snow Rd, Mobile, AL 36608
      View Details
    • $125,000
      238,941 SF

      Prime Mobile, AL Land - Airport Access

      5.5 acres, high-traffic location, near Mobile Regional Airport.
      Airport Boulevard, Mobile, AL 36608
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    • $25,000
      239,580 SF

      Airport Blvd Commercial Land

      Prime 5.5-acre commercial lot near Mobile Regional Airport.
      0 Airport Blvd, Mobile, AL 36608
      View Details
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    Old Shell Rd
    Mobile, AL 36608
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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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