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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Office buildings
101 Ivory Pl Madison, AL 35758-2349
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US03-1009724
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
MIXED
Total area
4,057 SF
Lot
1.01 ac (44,039 SF)
APN
16-04-20-1-002-020.008
UPID
US03-1009724
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
-
ApproXie Urgent Care Madison Medical Clinic
-
Nemil Shah, MD Physician
-
Heather Howard Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$850k
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$810k
Owner & transaction history
H & N Real Estate LLC · 6 yrs held
H & N Real Estate LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$905,000
Current use
COMMERCIAL (GENERAL)
$870,000
Change: -4% · Conversion: Easy
MEDICAL BUILDING
$845,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$200 / 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
$10,617
Tax year 2023
Assessed value
$150,900
Assessed 2023
Previous assessed
$145,460
+3.7% YoY
Effective rate
7.04%
On assessed value
Assessed land
$49,580
Assessed improvement
$101,320
Land market value
$247,900
Improvement market value
$506,600
Total market value
$754,500
Applied tax rate
5.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
MIXED
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Bathrooms
1
Total area
4,057 SF
Lot
1.01 ac (44,039 SF)
APN
16-04-20-1-002-020.008
UPID
US03-1009724
Jurisdiction
MADISON
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
OFFICE BUILDING Current
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$870,000
MEDICAL BUILDING
Est. value
$845,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1998
Construction
MIXED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
H & N Real Estate LLC
Entity
Mailing address
406 LOWE AVE SE, HUNTSVILLE, AL 35801-3746
Ownership since
2019
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
Nov 20, 2019
—
H & N Real Estate LLC
—
Deed
related
$701,250 · Synovus Bk
Nov 18, 2019
$825,000
H & N Real Estate LLC
Blossomwood Madison LLC
Warranty Deed
$701,250 · Synovus Bk
Aug 7, 2014
—
Blossomwood Madison LLC
Iveys Restaurant INC
Grant Deed
related
—
Apr 4, 2014
$720,000
Blossomwood Madison LLC
Iveys Restaurant INC
Warranty Deed
$720,000 · Iberiabank
—
—
H & N Real Estate LLC
—
Deed Of Trust
related
$701,250 · Synovus Bk
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
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