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Property profile & analytics
OFF-MARKET
Estimated value
$1,165,000
Investment properties
1116 3rd N Ave Birmingham, AL 35203-1534
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US03-1052017
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1992
Total area
6,598 SF
Lot
0.39 ac (17,041 SF)
Zoning code
M1
APN
22-00-35-4-023-003.000
UPID
US03-1052017
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
-
ABC Select Spirits (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$955k
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.17M
Owner & transaction history
Third Ave Food Court LLC · 3 yrs held
Third Ave Food Court LLC
since 2022
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+142.4%
Neighborhood: shopping center
$1.8M
+139.6%
Apartment house (5+ units)
$1.3M
+78.7%
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
$1,090,000
ML approach
$955,000
CAP Approach
CAP Return
Estimation
6%
$1,275,000
6.5%
$1,180,000
7%
$1,095,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$745,000
Current use
RESTAURANT
$1,805,000
Change: +142% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,785,000
Change: +140% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,330,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$1,175,000
Change: +58% · Conversion: Easy
OFFICE BUILDING
$1,105,000
Change: +48% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,060,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$805,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.17M
Range $1.05M – $1.28M · ±10% · vs last sale $1.34M (Jan 28 2025)
Last sale anchor
$1.34M
Jan 28 2025
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
$177 / 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
$8,680
Tax year 2022
Assessed value
$123,060
Assessed 2023
Previous assessed
$119,720
+2.8% YoY
Effective rate
7.05%
On assessed value
Assessed land
$30,680
Assessed improvement
$92,380
Land market value
$153,400
Improvement market value
$461,900
Total market value
$615,300
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
6,598 SF
Lot
0.39 ac (17,041 SF)
Zoning code
M1
APN
22-00-35-4-023-003.000
UPID
US03-1052017
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, AL
Zoning M1 · permitted uses
M1 · 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
$745,000
RESTAURANT
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$805,000
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1992
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Third Ave Food Court LLC
Entity
Mailing address
PO BOX 2502, BIRMINGHAM, AL 35201-2502
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2022
$1,325,000
Third Ave Food Court LLC
James J Burke
Warranty Deed
$1,060,000 · Servisfirst Bank
May 12, 2003
—
Felipe Ferrer
Edwards,william
Grant Deed
related
—
Oct 1, 1992
$230,675
Jim Burke JR
Unknown
Grant Deed
—
—
—
James J Burke JR.
—
Loan Modification
related
$4,434,139 · Compass 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.
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