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Property profile & analytics
OFF-MARKET
Estimated value
$2,305,000
Garden apartment buildings
1609 Pike Rd Birmingham, AL 35218
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US03-1233230
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Total area
12,656 SF
Lot
0.84 ac (36,415 SF)
Zoning code
R6
APN
29-00-06-1-017-004.001
UPID
US03-1233230
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
$2.13M
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.31M
Owner & transaction history
33h 58al LLC · 4 yrs held
33h 58al LLC
since 2021
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
R6 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+35.6%
Neighborhood: shopping center
$3.4M
+34.1%
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 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
$2,290,000
ML approach
$2,130,000
CAP Approach
CAP Return
Estimation
6%
$1,520,000
6.5%
$1,405,000
7%
$1,305,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,550,000
Current use
RESTAURANT
$3,460,000
Change: +36% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,420,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$2,255,000
Change: -12% · Conversion: Moderate
OFFICE BUILDING
$2,115,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$2.31M
Range $2.07M – $2.54M · ±10% · vs last sale $2.40M (Nov 5 2021)
Last sale anchor
$2.40M
Nov 5 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
$182 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$5,349
Tax year 2022
Assessed value
$203,240
Assessed 2023
Previous assessed
$73,780
+175.5% YoY
Effective rate
2.63%
On assessed value
Assessed land
$12,740
Assessed improvement
$190,500
Land market value
$63,700
Improvement market value
$952,500
Total market value
$1,016,200
Applied tax rate
31.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Cooling
YES
Stories
2
Rooms
12
Bathrooms
2
Total area
12,656 SF
Lot
0.84 ac (36,415 SF)
Zoning code
R6
APN
29-00-06-1-017-004.001
UPID
US03-1233230
Jurisdiction
JEFFERSON
Zoning & alternative use
R6 · Birmingham, AL
Zoning R6 · permitted uses
R6 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.6M
RESTAURANT
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE 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
1972
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
12
Bathrooms
2
Lot
0.84 ac
Current owner
From public records · entity-resolved
33h 58al LLC
Entity
Mailing address
1145 HIGHTOWER TRL, ATLANTA, GA 30350-2981
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2021
$2,400,000
33h 58al LLC
Melvin Cheatum
Warranty Deed
$2,944,620 · Dlp Lending Fund
May 16, 2011
$385,000
Cheatum,melvin
Owner Name Unavailable
Grant Deed
related
—
Jul 31, 2002
$60,000
U S Commercial Investment
Younes,elie
Grant Deed
—
—
—
Melvin Cheatum
—
Deed Of Trust
related
$360,000 · Evabank
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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