Back to Search
Property profile & analytics
FOR LEASE
Office buildings
15 Southlake Ln Birmingham, AL 35244
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-3139661
For Lease
1 / 5
$3,695,000
15 Southlake Ln, Birmingham, AL 35244
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
WOOD
Total area
28,344 SF
Lot
2.29 ac (99,709 SF)
APN
104200005006000
UPID
US03-3139661
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
by Request
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$3.70M
Owner & transaction history
Southlake Plaza Property LLC · 9 yrs held
Southlake Plaza Property LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.7M
+21.1%
Medical building
$5.0M
+6.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,720,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,715,000
Change: +21% · Conversion: Easy
MEDICAL BUILDING
$5,045,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,565,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,810,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.70M
Range $3.33M – $4.06M · ±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
$130 / 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
$45,943
Tax year 2023
Assessed value
$687,040
Assessed 2023
Previous assessed
$687,040
+0.0% YoY
Effective rate
6.69%
On assessed value
Land market value
$778,070
Improvement market value
$2,657,070
Total market value
$3,435,140
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
For Lease
Year built
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
3
Bathrooms
1
Total area
28,344 SF
Lot
2.29 ac (99,709 SF)
APN
104200005006000
UPID
US03-3139661
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
OFFICE BUILDING Current
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
MEDICAL BUILDING
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
3
Bathrooms
1
Lot
2.29 ac
Current owner
From public records · entity-resolved
Southlake Plaza Property LLC
Entity
Free & Clear · 9 yrs held
Mailing address
27 INVERNESS CTR PKWY, HOOVER, AL 35242-4810
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2016
$659,500
Southlake Plaza Property LLC
Southlake Eat LLC
Warranty Deed
related
—
May 27, 2016
$2,582,000
Southlake Plaza Property LLC
Lts Properties LLC
Warranty Deed
—
May 27, 2016
$645,500
Barber Companies INC
Lts Properties LLC
Warranty Deed
—
Oct 22, 2009
$3,500,000
Southlake Strategic Partners LLC
Resource Center LLC
Warranty Deed
$3,500,000 · Bancorpsouth Bank
Apr 27, 2007
$500
Resource Center LLC
Farmer Investments LLC
Quit Claim Deed
related
—
Mar 16, 2007
$360,000
Farmer Investments LLC
Resource Center LLC
Warranty Deed
—
Sep 25, 2006
—
Resource Center LLC
Development Partners LLC
Warranty Deed
$3,608,250 · Bancorpsouth
May 31, 2006
$850,000
Development Partners LLC
Kim Hon Yam
Warranty Deed
$700,000 · Bancorpsouth Bank
—
—
Resource Center LLC
—
Deed Of Trust
related
$360,000 · Rc Farmer
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
