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Property profile & analytics
FOR LEASE
Office buildings
1585 Gulf Shores Pkwy Gulf Shores, AL 36542
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US03-0471908
For Lease
1 / 2
$20.37 SF/Yr
1585 Gulf Shores Pkwy, Gulf Shores, AL 36542
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
40,653 SF
Lot
0.77 ac (33,541 SF)
APN
66-04-17-1-000-031
UPID
US03-0471908
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
$7.60M
CAP Approach
CAP
$7.78M
Comparable Approach
Comparable
$7.06M
Blend (final)
Blend
$7.33M
Owner & transaction history
A & R Properties & Rentals LLC · 4 yrs held
A & R Properties & Rentals LLC
since 2022
Last sale
$6.8M
3 recorded transactions
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 Gulf Shores submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gulf Shores 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
$7,910,000
ML approach
$7,600,000
CAP Approach
CAP Return
Estimation
6%
$8,430,000
6.5%
$7,780,000
7%
$7,225,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,005,000
Current use
MEDICAL BUILDING
$7,950,000
Change: -1% · Conversion: Easy
RETAIL STORES
$6,820,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,690,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$7.33M
Range $6.59M – $8.06M · ±10% · vs last sale $6.80M (Jun 16 2022)
Last sale anchor
$6.80M
Jun 16 2022
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
$180 / 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
$45,046
Tax year 2023
Assessed value
$1,365,040
Assessed 2023
Previous assessed
$1,365,040
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$198,380
Assessed improvement
$1,166,660
Land market value
$991,900
Improvement market value
$5,833,300
Total market value
$6,825,200
Applied tax rate
8.0000
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
2005
Heating
FORCED AIR
Cooling
YES
Stories
4
Rooms
9
Bathrooms
1
Total area
40,653 SF
Lot
0.77 ac (33,541 SF)
APN
66-04-17-1-000-031
UPID
US03-0471908
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
$8.0M
MEDICAL BUILDING
Est. value
$8.0M
RETAIL STORES
Est. value
$6.8M
COMMERCIAL (GENERAL)
Est. value
$6.7M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
4
Rooms
9
Bathrooms
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
A & R Properties & Rentals LLC
Entity
Mailing address
1381 W FAIRWAY DR, GULF SHORES, AL 36542-4121
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2022
$6,800,000
A & R Properties & Rentals LLC
Hodges Properties LLC
Warranty Deed
—
Feb 12, 2008
—
Hodges Properties LLC
—
Deed Of Trust
related
$1,500,000 · Rbc Centura Bank
Jun 29, 2004
$40,000
Hodges Properties LLC
Hodges,harvey E
Quit Claim Deed
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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