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Property profile & analytics
OFF-MARKET
Estimated value
$1,180,000
Distribution centers
1275 Hwy 87 Alabaster, AL 35007-5050
Entity Owned
3-yr Hold
Free & Clear
Property ID
US03-0767648
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2022
Total area
11,050 SF
Lot
1.59 ac (69,260 SF)
APN
229300000001005
UPID
US03-0767648
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
$860k
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.18M
Owner & transaction history
Here Alabaster LLC · 3 yrs held
Here Alabaster LLC
since 2023
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+88.5%
Commercial (general)
$1.4M
+61.6%
Retail stores
$1.4M
+60.1%
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 Alabaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alabaster 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
$1,090,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$930,000
6.5%
$860,000
7%
$800,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$860,000
Current use
OFFICE BUILDING
$1,625,000
Change: +88% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,395,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$1,380,000
Change: +60% · Conversion: Moderate
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±10% · vs last sale $1.14M (Mar 15 2023)
Last sale anchor
$1.14M
Mar 15 2023
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
$107 / 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
$15,135
Tax year 2023
Assessed value
$343,980
Assessed 2023
Previous assessed
$343,980
+0.0% YoY
Effective rate
4.40%
On assessed value
Land market value
$218,170
Improvement market value
$1,501,730
Total market value
$1,719,900
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
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2022
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Bathrooms
1
Total area
11,050 SF
Lot
1.59 ac (69,260 SF)
APN
229300000001005
UPID
US03-0767648
Jurisdiction
SHELBY
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
WAREHOUSE, STORAGE Current
Est. value
$860,000
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2022
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Here Alabaster LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5336 MESSER AIRPORT HWY, BIRMINGHAM, AL 35212-1528
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2023
$1,140,000
Here Alabaster LLC
Walter R Higgins SR.
Warranty Deed
—
Apr 27, 2021
$157,000
Gloria D Furris
Timothy Furris
Warranty Deed
related
—
Aug 12, 2020
—
Here Alabaster LLC
Equipment Real Estate LLC
Warranty Deed
—
Mar 14, 2019
$500,000
Heavy Equipment R & E LLC
Higgins,walter R SR & Julie D
Warranty Deed
—
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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