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Property profile & analytics
OFF-MARKET
Estimated value
$2,590,000
Grocery and convenience stores
12078 Hwy 231st 431st N Meridianville, AL 35759-1225
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US03-0394435
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1989
Construction
MIXED
Total area
20,542 SF
Lot
2.81 ac (122,621 SF)
APN
08-04-18-0-002-011.000
UPID
US03-0394435
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
-
Tropical Sno Shave Ice Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$2.59M
Owner & transaction history
Heritage Properties LLC
Heritage Properties LLC
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.3M
+37.7%
Commercial (general)
$3.5M
+12.3%
Office building
$3.4M
+10.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,100,000
Current use
MEDICAL BUILDING
$4,270,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,480,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$3,420,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$2.59M
Range $2.33M – $2.85M · ±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
$126 / 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
$13,058
Tax year 2023
Assessed value
$367,180
Assessed 2023
Previous assessed
$351,080
+4.6% YoY
Effective rate
3.56%
On assessed value
Assessed land
$114,540
Assessed improvement
$252,640
Land market value
$572,700
Improvement market value
$1,263,200
Total market value
$1,835,900
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1989
Construction
MIXED
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
1
Bathrooms
1
Total area
20,542 SF
Lot
2.81 ac (122,621 SF)
APN
08-04-18-0-002-011.000
UPID
US03-0394435
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
RETAIL STORES Current
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE 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
1989
Construction
MIXED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
1
Lot
2.81 ac
Current owner
From public records · entity-resolved
Heritage Properties LLC
Entity
Mailing address
704 PRATT AVE NE, HUNTSVILLE, AL 35801-3644
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jul 21, 2025
—
Heritage Properties LLC
—
Deed
related
$400,000 · Bank Independent
Jun 27, 2016
—
Heritage Properties L L C
—
Deed
related
$1,898,790 · Bank Independent
—
—
Heritage Properties LLC
—
Deed Of Trust
related
$100,000 · Colonial Bank
—
—
Heritage Properties LLC
—
Deed Of Trust
related
$500,000 · Colonial Bank
—
—
Heritage Properties LLC
—
Deed Of Trust
related
$805,500 · Worthington Federal 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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