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Property profile & analytics
OFF-MARKET
Sports & entertainment properties
117 Royal Dr Madison, AL 35758-1766
Entity Owned
5-yr Hold
Free & Clear
Property ID
US03-0896302
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1999
Construction
MIXED
Total area
3,055 SF
Lot
14.14 ac (615,938 SF)
APN
16-04-20-1-001-053.000
UPID
US03-0896302
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
-
ICU 360 rental Photography Service Party Supply Store
-
Elements of Madison Apartments Apartment Rental Agency Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Elements Of Madison Apts LLC · 5 yrs held
Elements Of Madison Apts LLC
since 2020
Last sale
$39.0M
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$203,967
Tax year 2023
Assessed value
$2,917,800
Assessed 2023
Previous assessed
$2,241,260
+30.2% YoY
Effective rate
6.99%
On assessed value
Assessed land
$367,640
Assessed improvement
$2,550,160
Land market value
$1,838,200
Improvement market value
$12,750,800
Total market value
$14,589,000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1999
Construction
MIXED
Heating
FORCED AIR
Cooling
YES
Buildings
22
Stories
1
Units
1
Bathrooms
97
Total area
3,055 SF
Lot
14.14 ac (615,938 SF)
APN
16-04-20-1-001-053.000
UPID
US03-0896302
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
Building & site characteristics
From public records
Year built
1999
Construction
MIXED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
22
Units
1
Bathrooms
97
Lot
14.14 ac
Current owner
From public records · entity-resolved
Elements Of Madison Apts LLC
Entity
Free & Clear · 5 yrs held
Mailing address
3900 EDISON LKS PKWY STE #201, MISHAWAKA, IN 46545-3442
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
45 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2020
$39,000,000
Elements Of Madison Apts LLC
Sullivan Street Property LLC
Warranty Deed
—
Nov 2, 2018
—
Sullivan Street Property LLC
—
Grant Deed
related
$23,945,000 · Cbre Cap Markets
May 16, 2016
$23,000,000
Sullivan Street Property LLC
Tic Huntsville 1 LLC
Warranty Deed
$17,250,000 · Cbre Cap Markets
Oct 15, 2008
$14,404,980
Tic Huntsville Investors LLC
Tic Huntsville LLC
Warranty Deed
related
$14,200,000 · John Hancock Life Insurance Co
Sep 19, 2008
$371,180
Tic Huntsville 39 LLC
Tic Huntsville LLC
Warranty Deed
—
Sep 19, 2008
$71,490,290
Tic Huntsville 42 LLC
Tic Huntsville LLC
Warranty Deed
$14,200,000 · John Hancock Life Insurance Co
Sep 19, 2008
$379,490
Tic Huntsville 37 LLC
Tic Huntsville LLC
Warranty Deed
—
Sep 19, 2008
$515,220
Tic Huntsville 34 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Sep 19, 2008
$342,649
Tic Huntsville 40 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Aug 27, 2008
$14,407,750
Tic Huntsville Investors LLC
Tic Huntsville LLC
Warranty Deed
related
$14,200,000 · John Hancock Life Insurance Co
Aug 27, 2008
$14,496,390
Tic Huntsville 23 LLC
Tic Huntsville LLC
Warranty Deed
related
$14,200,000 · John Hancock Life Insurance Co
Aug 13, 2008
$1,024,900
Tic Huntsville 29 LLC
Tic Huntsville LLC
Warranty Deed
—
Aug 13, 2008
$415,500
Tic Huntsville 33 LLC
Tic Huntsville LLC
Warranty Deed
—
Aug 13, 2008
—
Tic Huntsville LLC
—
Deed Of Trust
related
$14,200,000 · John Hancock Life Insurance Co
Aug 13, 2008
$718,261
Tic Huntsville 35 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Aug 13, 2008
$409,960
Tic Huntsville 32 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Jul 11, 2008
$675,880
Tic Huntsville 26 LLC
Tic Huntsville LLC
Warranty Deed
—
Jul 11, 2008
$52,630
Tic Huntsville Investors LLC
Tic Huntsville LLC
Grant Deed
$14,200,000 · John Hancock Life Insurance Co
Jul 11, 2008
$642,640
Tic Huntsville 25 LLC
Tic Huntsville LLC
Warranty Deed
—
Jul 11, 2008
$1,468,100
Tic Huntsville 27 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Jul 11, 2008
$576,160
Tic Huntsville 31 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Jul 11, 2008
$512,450
Tic Huntsville 16 LLC
Tic Huntsville LLC
Warranty Deed
related
—
May 16, 2008
$310,240
Tic Huntsville 19 LLC
Tic Huntsville LLC
Warranty Deed
—
May 16, 2008
$28,815,500
Tic Huntsville 23 LLC
Tic Huntsville LLC
Warranty Deed
$14,200,000 · John Hancock Life Insurance Co
May 16, 2008
$512,450
Tic Huntsville 18 LLC
Tic Huntsville LLC
Warranty Deed
related
—
May 16, 2008
$565,080
Tic Huntsville 17 LLC
Tic Huntsville LLC
Warranty Deed
related
—
May 16, 2008
—
Tic Huntsville LLC
—
Deed Of Trust
related
$14,200,000 · John Hancock Life Insurance Co
Apr 11, 2008
$831,000
Tic Huntsville 12 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Apr 11, 2008
$814,380
Tic Huntsville 13 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Apr 11, 2008
—
Tic Huntsville LLC
—
Deed Of Trust
related
$14,200,000 · John Hancock Life Insurance Co
Apr 11, 2008
$614,940
Tic Huntsville 20 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Apr 11, 2008
$243,760
Tic Huntsville 15 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Apr 11, 2008
$1,080,300
Tic Huntsville 21 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Apr 11, 2008
$1,024,900
Tic Huntsville 14 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$14,310,800
Tic Huntsville Investors LLC
Tic Huntsville LLC
Warranty Deed
$14,200,000 · John Hancock Life Insurance Co
Mar 17, 2008
$1,024,900
Tic Huntsville 7 LLC
Tic Huntsville LLC
Warranty Deed
—
Mar 17, 2008
$6,066,300
Tic Huntsville 6 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$717,430
Tic Huntsville 5 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$617,710
Tic Huntsville 3 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$614,940
Tic Huntsville 1 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$864,240
Tic Huntsville 11 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Mar 17, 2008
$517,990
Tic Huntsville 4 LLC
Tic Huntsville LLC
Warranty Deed
related
—
Jan 25, 2008
$22,500,000
Tic Huntsville LLC
Lexington Apartments One LLC
Warranty Deed
$14,200,000 · John Hancock Life Insurance Co
—
—
Tic Huntsville LLC
—
Deed Of Trust
related
$14,200,000 · John Hancock Life Insurance Co
—
—
Tic Huntsville LLC
—
Deed Of Trust
related
$14,200,000 · John Hancock Life Insurance Co
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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