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Property profile & analytics
OFF-MARKET
Estimated value
$13,025,000
Office Spaces
1221 22nd S St Birmingham, AL 35205
Entity Owned
13-yr Hold
Free & Clear
Property ID
US03-0794153
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1999
Construction
CONCRETE
Total area
68,163 SF
Lot
3.71 ac (161,608 SF)
Zoning code
QO&I
APN
28-00-06-2-010-003.000
UPID
US03-0794153
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
-
P3812 Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.18M
Comparable Approach
Comparable
$11.56M
Blend (final)
Blend
$13.03M
Owner & transaction history
Privet Birmingham Crescent LLC · 13 yrs held
Privet Birmingham Crescent LLC
since 2013
2 recorded transactions
Zoning & alternative use
QO&I · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.6M
+127.1%
Neighborhood: shopping center
$18.4M
+124.5%
Apartment house (5+ units)
$13.7M
+67.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,190,000
6.5%
$12,175,000
7%
$11,305,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,205,000
Current use
RESTAURANT
$18,635,000
Change: +127% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$18,425,000
Change: +125% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,745,000
Change: +67% · Conversion: Moderate
MEDICAL BUILDING
$12,135,000
Change: +48% · Conversion: Easy
OFFICE BUILDING
$11,400,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,975,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$8,335,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$13.03M
Range $11.72M – $14.33M · ±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
$191 / 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
$385,204
Tax year 2022
Assessed value
$5,717,920
Assessed 2023
Previous assessed
$5,313,160
+7.6% YoY
Effective rate
6.74%
On assessed value
Assessed land
$898,659
Assessed improvement
$4,819,261
Land market value
$4,363,400
Improvement market value
$23,399,700
Total market value
$27,763,100
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1999
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
5
Bathrooms
1
Total area
68,163 SF
Lot
3.71 ac (161,608 SF)
Zoning code
QO&I
APN
28-00-06-2-010-003.000
UPID
US03-0794153
Jurisdiction
JEFFERSON
Zoning & alternative use
QO&I · Birmingham, AL
Zoning QO&I · permitted uses
QO&I · 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
$8.2M
RESTAURANT
Est. value
$18.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.7M
MEDICAL BUILDING
Est. value
$12.1M
OFFICE BUILDING
Est. value
$11.4M
AUTO REPAIR, GARAGE
Est. value
$11.0M
RETAIL STORES
Est. value
$8.3M
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
1999
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
5
Bathrooms
1
Lot
3.71 ac
Current owner
From public records · entity-resolved
Privet Birmingham Crescent LLC
Entity
Free & Clear · 13 yrs held
Mailing address
555 THEODORE FREMD AVE STE C207, RYE, NY 10580-1437
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2013
$25,398,000
Privet Birmingham Crescent LLC
Lal Crescent LLC
Warranty Deed
—
Dec 2, 2005
—
Lal Crescent LLC
Highland Crescent Co LLC
Grant Deed
$21,000,000 · Greenwich Cap Fin'l
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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