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Property profile & analytics
OFF-MARKET
Estimated value
$18,145,000
Office buildings
1234 Palmour Dr Gainesville, GA 30501-6857
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-1406377
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Total area
207,402 SF
Lot
15.3 ac (666,468 SF)
Zoning code
H-I
APN
15-035 -000-017
UPID
US22-1406377
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
-
IMS Gear Georgia LLC, IMS Gear Braking Systems LLC, IMS Gear Holding Inc. Industrial Manufacturer Production Facility
-
IMS Gear Planetary Gears LLC Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.32M
Blend (final)
Blend
$18.15M
Owner & transaction history
Gainesville Indl Park South L · 8 yrs held
Gainesville Indl Park South L
since 2018
2 recorded transactions
Zoning & alternative use
H-I · Gainesville, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
(1) It is located in a Light Industrial (L-I) or Heavy Industrial (H-I) zoning district; or (2) It is located on the same property as a business or organization with a 501(c)(3) designation. (b) Where approved, community donation boxes shall be located flush against a building wall and shall be maintained on a regular basis in compliance with the Unified Lan…
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
1,403.59 ac
Source
ARTICLE 9-1
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 Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville 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
OFFICE BUILDING
$29,570,000
Current use
RETAIL STORES
$29,300,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$18.15M
Range $16.33M – $19.96M · ±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
$87 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$124,864
Tax year 2024
Assessed value
$4,360,000
Assessed 2024
Previous assessed
$4,691,880
-7.1% YoY
Effective rate
2.86%
On assessed value
Assessed land
$171,959
Assessed improvement
$4,188,041
Land market value
$429,897
Improvement market value
$10,470,103
Total market value
$10,900,000
Applied tax rate
4.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1991
Heating
YES
Cooling
CENTRAL
Rooms
86
Bathrooms
2
Total area
207,402 SF
Lot
15.3 ac (666,468 SF)
Zoning code
H-I
APN
15-035 -000-017
UPID
US22-1406377
Jurisdiction
HALL
Zoning & alternative use
H-I · Gainesville, GAZoning H-I · permitted uses
H-I · Gainesville, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
(1) It is located in a Light Industrial (L-I) or Heavy Industrial (H-I) zoning district; or (2) It is located on the same property as a business or organization with a 501(c)(3) designation. (b) Where approved, community donation boxes shall be located flush against a building wall and shall be maintained on a regular basis in compliance with the Unified Land Development Code and Code of Ordinances of the City of Gainesville.
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
1,403.59 ac
Source
ARTICLE 9-1
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$29.6M
RETAIL STORES
Est. value
$29.3M
OFFICE BUILDING Current
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
1991
Heating
YES
Cooling
Yes
Rooms
86
Bathrooms
2
Lot
15.3 ac
Current owner
From public records · entity-resolved
Gainesville Indl Park South L
Individual
Mailing address
3333 RICHMOND RD STE #350, BEACHWOOD, OH 44122-4196
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Feb 2, 2018
—
Gainesville Indl Park South L
—
Grant Deed
related
$13,250,000 · Miscellaneous Ins Co
Oct 25, 2012
—
Indl Park South L Gainesville
—
Deed Of Trust
related
$6,900,000 · American Equity Inv Life Ins
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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