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Property profile & analytics
OFF-MARKET
Estimated value
$5,380,000
Retail space
100 Colonial Dr, Alabaster, AL 35007-4667
Individually Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-1394517
Property summary
AI-generated overview
This exceptional 2,400 square foot retail space is available for lease, ideally situated at 100 S Colonial Dr, Suite 1400, in the vibrant Colonial Promenade shopping center of Alabaster, Alabama. Located in Shelby County, this property offers a high-visibility storefront opportunity within a thriving retail environment. The space is categorized as retail, storefront, and shopping center tenancy, making it suitable for a wide range of businesses. The property boasts a convenient location with excellent access and ample parking for customers. The lease commencement date is September 1st, 2024. This space previously housed a Spectrum store, providing a ready-made layout and infrastructure. The property's address is 100 S Colonial Dr, Alabaster, AL 35007. Its geographical coordinates are latitude 33.2257944 and longitude -86.8046046. This is a single available space within a multi-tenant building. Serious inquiries are encouraged to explore this outstanding retail leasing opportunity. The property is classified as a retail space within a shopping center.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
30,158 SF
Lot
8.35 ac (363,726 SF)
APN
231120000002002
UPID
US03-1394517
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
-
Bedzzz Express Furniture & Home Goods
-
Spectrum Store Telecommunications Service Data Center
-
Angela Halverson Canales Dental Office
-
PetSmart Dog Training Animal Training
-
PetSmart Grooming Pet Grooming Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.38M
Blend (final)
Blend
$5.38M
Owner & transaction history
Dev Auth Commercial · 19 yrs held
Dev Auth Commercial
since 2007
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.5M
+46.4%
Office building
$4.4M
+17.7%
Commercial (general)
$3.8M
+0.9%
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 Alabaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alabaster 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,765,000
Current use
MEDICAL BUILDING
$5,510,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$4,430,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,800,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$5.38M
Range $4.84M – $5.92M · ±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
$178 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$118,418
Tax year 2023
Assessed value
$2,192,920
Assessed 2023
Previous assessed
$2,192,920
+0.0% YoY
Effective rate
5.40%
On assessed value
Land market value
$2,291,160
Improvement market value
$8,673,350
Total market value
$10,964,510
Applied tax rate
2.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
1
Rooms
5
Bathrooms
3
Total area
30,158 SF
Lot
8.35 ac (363,726 SF)
APN
231120000002002
UPID
US03-1394517
Jurisdiction
SHELBY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$5.5M
OFFICE BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$3.8M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Rooms
5
Bathrooms
3
Lot
8.35 ac
Current owner
From public records · entity-resolved
Dev Auth Commercial
Individual
Free & Clear · 19 yrs held
Mailing address
2801 HWY 280TH S STE #345, BIRMINGHAM, AL 35223-2483
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2007
—
Dev Auth Commercial
Owner Name Unavailable
Grant Deed
related
—
Feb 14, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
Jan 11, 2006
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
Jul 1, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
—
—
Highway 11/31 LLC
—
Deed Of Trust
related
$40,000 · Regions Bank
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.
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