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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Office buildings
1506 Mckenzie St Foley, AL 36535-2261
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US03-0705584
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
WOOD
Total area
19,820 SF
Lot
1.3 ac (56,628 SF)
APN
54-05-21-2-000-005
UPID
US03-0705584
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
-
Dr. Janet Hoffman Pediatrician Physician
-
Armbrecht Jackson LLP Law Firm
-
Jeremy S. Norwood, M.D. Physician Medical Clinic
-
A. Brian Allen, DO Physician Medical Clinic
-
Brantley Herrington Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.80M
Comparable Approach
Comparable
$3.97M
Blend (final)
Blend
$3.67M
Owner & transaction history
Mckenzie Center LLC · 20 yrs held
Mckenzie Center LLC
since 2006
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.1M
+93.2%
Restaurant
$6.0M
+91.7%
Medical building
$3.9M
+22.8%
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 Foley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Foley 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%
$4,110,000
6.5%
$3,795,000
7%
$3,525,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,155,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,095,000
Change: +93% · Conversion: Easy
RESTAURANT
$6,045,000
Change: +92% · Conversion: Moderate
MEDICAL BUILDING
$3,875,000
Change: +23% · Conversion: Easy
RETAIL STORES
$3,380,000
Change: +7% · Conversion: Moderate
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±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
$185 / 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
$18,081
Tax year 2023
Assessed value
$547,900
Assessed 2023
Previous assessed
$547,900
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$83,900
Assessed improvement
$464,000
Land market value
$419,500
Improvement market value
$2,320,000
Total market value
$2,739,500
Applied tax rate
7.0000
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
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
2
Total area
19,820 SF
Lot
1.3 ac (56,628 SF)
APN
54-05-21-2-000-005
UPID
US03-0705584
Jurisdiction
BALDWIN
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
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.1M
RESTAURANT
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.4M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
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
2007
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.3 ac
Current owner
From public records · entity-resolved
Mckenzie Center LLC
Entity
Mailing address
1300 N MCKENZIE ST, FOLEY, AL 36535-2232
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2017
—
Mckenzie Center LLC
—
Grant Deed
related
$2,988,059 · Bryant Bk
Sep 5, 2012
—
Mckenzie Center LLC
—
Deed Of Trust
related
$3,500,324 · Coastal Bank & Trust
Feb 8, 2011
—
Mckenzie Center LLC
—
Deed Of Trust
related
$3,600,000 · Bryant Bank
Mar 15, 2006
$4,240,500
Mckenzie Center LLC
Professional Center North LLC
Grant Deed
$4,240,000 · First Gulf Bank
Dec 9, 2004
$855,500
Professional Center North LLC
Foley Regional Medical Center
Warranty Deed
$855,000 · First Gulf Bank
—
—
Mckenzie Center LLC
—
Deed Of Trust
related
$3,450,000 · First Community Bank
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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