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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
1423 Rainbow Dr Gadsden, AL 35901-5397
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US03-2713850
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,318 SF
Lot
0.31 ac (13,630 SF)
APN
15-05-15-3-000-006.000
UPID
US03-2713850
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
-
Riverview Imaging Center Medical Clinic
-
Bobbie Dunnington, Realtor Real Estate Agency
-
Rachel Hicks, Impact Realty Real Estate Agency
-
Mark Cassidy, Realtor Real Estate Agency
-
Impact Realty, LLC Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
$460k
Comparable Approach
Comparable
$632k
Blend (final)
Blend
$535k
Owner & transaction history
Cashin LLC · 5 yrs held
Cashin LLC
since 2021
Last sale
$485,000
1 recorded transaction
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 Gadsden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gadsden 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
$620,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
$495,000
6.5%
$460,000
7%
$425,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$445,000
Current use
MEDICAL BUILDING
$375,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $485k (Jun 3 2021)
Last sale anchor
$485k
Jun 3 2021
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
$124 / 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
$4,422
Tax year 2023
Assessed value
$90,240
Assessed 2023
Previous assessed
$78,880
+14.4% YoY
Effective rate
4.90%
On assessed value
Assessed land
$27,260
Assessed improvement
$62,980
Land market value
$136,300
Improvement market value
$314,900
Total market value
$451,200
Applied tax rate
13.0000
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
12
Total area
4,318 SF
Lot
0.31 ac (13,630 SF)
APN
15-05-15-3-000-006.000
UPID
US03-2713850
Jurisdiction
ETOWAH
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
OFFICE BUILDING Current
Est. value
$445,000
MEDICAL BUILDING
Est. value
$375,000
OFFICE BUILDING Current
MEDICAL 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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
12
Lot
0.31 ac
Current owner
From public records · entity-resolved
Cashin LLC
Entity
Mailing address
PO BOX 1070, GADSDEN, AL 35902-1070
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2021
$485,000
Cashin LLC
David B Gregorson
Warranty Deed
$444,864 · The Exchange Bank Of Alabama
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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