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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Medical Office Space
1622 Mckenzie St 1 Foley, AL 36535-2248
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US03-0680034
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Total area
5,332 SF
Lot
0.89 ac (38,768 SF)
APN
54-05-21-2-000-002.005
UPID
US03-0680034
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
-
Joshua Wing Physician
-
Encore Rehabilitation-South Baldwin Medical Clinic
-
T. Gregory Terral, MD Physician
-
Dr. Joey F. Carter, MD Physician
-
Dr. Albert Savage Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$980k
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$985k
Owner & transaction history
Olde Towne LLC · 1 yrs held
Olde Towne LLC
since 2025
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+57.3%
Restaurant
$1.6M
+56.0%
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%
$1,065,000
6.5%
$980,000
7%
$910,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,040,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,640,000
Change: +57% · Conversion: Moderate
RESTAURANT
$1,625,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$910,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$850,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$6,687
Tax year 2023
Assessed value
$202,640
Assessed 2023
Previous assessed
$202,640
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$81,300
Assessed improvement
$121,340
Land market value
$406,500
Improvement market value
$606,700
Total market value
$1,013,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
2
Total area
5,332 SF
Lot
0.89 ac (38,768 SF)
APN
54-05-21-2-000-002.005
UPID
US03-0680034
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
MEDICAL BUILDING Current
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
RETAIL STORES
Est. value
$910,000
OFFICE BUILDING
Est. value
$850,000
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
RETAIL STORES
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.89 ac
Current owner
From public records · entity-resolved
Olde Towne LLC
Entity
Mailing address
PO BOX 1186, FAIRHOPE, AL 36533-1186
Ownership since
2025
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
Jul 2, 2025
$1,525,000
Olde Towne LLC
Foley Bone Set LLC
Warranty Deed
$1,296,250 · Renasant Bank
Dec 7, 2020
—
Foley Bone Sot LLC
—
Deed
related
$200,000 · Trustmark National Bank
—
—
Foley Bone Set LLC
—
Loan Modification
related
$233,615 · Pnc Bank
—
—
Foley Bone Set LLC
—
Deed Of Trust
related
$1,000,000 · Pnc Bank
—
—
Foley Bone Set LLC
—
Deed Of Trust
related
$1,350,000 · Pnc Bank
—
—
Foley Bone Set LLC
—
Deed Of Trust
related
$756,500 · Rbc Centura 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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