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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Grocery and convenience stores
11664 Hwy 231st 431st N Meridianville, AL 35759-2117
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US03-0786130
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1990
Construction
MIXED
Total area
4,898 SF
Lot
1.27 ac (55,278 SF)
APN
08-04-19-0-000-041.000
UPID
US03-0786130
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$885k
Owner & transaction history
Jayendra H Patel · 7 yrs held
Jayendra H Patel
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$945,000
+397.8%
Office building
$580,000
+205.2%
Medical building
$560,000
+194.3%
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 Meridianville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Meridianville 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%
$1,140,000
6.5%
$1,055,000
7%
$975,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$945,000
Change: +398% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +205% · Conversion: Moderate
MEDICAL BUILDING
$560,000
Change: +194% · Conversion: Difficult
Blend value · Realmo final
$885k
Range $797k – $974k · ±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
$181 / 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
$5,185
Tax year 2023
Assessed value
$145,640
Assessed 2023
Previous assessed
$139,160
+4.7% YoY
Effective rate
3.56%
On assessed value
Assessed land
$43,660
Assessed improvement
$101,980
Land market value
$218,300
Improvement market value
$509,900
Total market value
$728,200
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1990
Construction
MIXED
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Bathrooms
1
Total area
4,898 SF
Lot
1.27 ac (55,278 SF)
APN
08-04-19-0-000-041.000
UPID
US03-0786130
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
AUTO REPAIR, GARAGE
Est. value
$945,000
OFFICE BUILDING
Est. value
$580,000
MEDICAL BUILDING
Est. value
$560,000
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1990
Construction
MIXED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Jayendra H Patel
Individual
Mailing address
120 TANNENBAUM DR, MERIDIANVILLE, AL 35759-5000
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2019
$650,000
Jayendra H Patel
Johnston,william H JR
Warranty Deed
$600,000 · William H JR Johnston
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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