Back to Search
Property profile & analytics
FOR LEASE
Office Spaces
1 Perimeter Park Birmingham, AL 35243
Entity Owned
Absentee Owner
Free & Clear
Property ID
US03-0369368
For Lease
1 / 16
$129-$13,006/Mo
1 Perimeter Park, Birmingham, AL 35243
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1983
Construction
STEEL FRAME
Total area
85,994 SF
Lot
11 ac (479,160 SF)
Zoning code
C1C3
APN
28-00-26-3-000-002.000
UPID
US03-0369368
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Common Bond Title LLC Insurance Agency Title Company
-
Barbee Media Group Advertising Agency Marketing & Advertising
-
Donna Breland, Signature Realty Real Estate Agency
-
MLC CAD Systems (Bike/Boat/Book/etc) Store Corporate Office
-
Baxley Insurance Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.36M
Comparable Approach
Comparable
$18.59M
Blend (final)
Blend
$15.38M
Owner & transaction history
BHAM REALTY CO INC
BHAM REALTY CO INC
Zoning & alternative use
C1C3 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$23.5M
+56.0%
Neighborhood: shopping center
$23.3M
+54.2%
Apartment house (5+ units)
$17.3M
+15.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,640,000
6.5%
$15,360,000
7%
$14,265,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,075,000
Current use
RESTAURANT
$23,510,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$23,250,000
Change: +54% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$17,340,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$15,305,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$14,380,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$13,845,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$15.38M
Range $13.84M – $16.91M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$179 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$181,528
Tax year 2022
Assessed value
$3,210,140
Assessed 2023
Previous assessed
$2,503,840
+28.2% YoY
Effective rate
5.65%
On assessed value
Assessed land
$670,820
Assessed improvement
$2,539,320
Land market value
$3,354,100
Improvement market value
$12,696,600
Total market value
$16,050,700
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1983
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
4
Bathrooms
1
Total area
85,994 SF
Lot
11 ac (479,160 SF)
Zoning code
C1C3
APN
28-00-26-3-000-002.000
UPID
US03-0369368
Jurisdiction
JEFFERSON
Zoning & alternative use
C1C3 · Birmingham, AL
Zoning C1C3 · permitted uses
C1C3 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$15.1M
RESTAURANT
Est. value
$23.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$23.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.3M
MEDICAL BUILDING
Est. value
$15.3M
OFFICE BUILDING
Est. value
$14.4M
AUTO REPAIR, GARAGE
Est. value
$13.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
4
Bathrooms
1
Lot
11 ac
Current owner
From public records · entity-resolved
BHAM REALTY CO INC
Entity
Free & Clear · 0 yrs held
Mailing address
27 KENLEY WAY, BIRMINGHAM, AL 35242-8013
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
