Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,420,000
Medical Office Space
1624 Mckenzie St 1 Foley, AL 36535-2248
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US03-0854100
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Total area
6,602 SF
Lot
0.93 ac (40,511 SF)
APN
54-05-21-2-000-002.004
UPID
US03-0854100
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
-
Retina Specialty Institute Physician
-
Southern Eye Group Physician Ophthalmologist
-
Dr. Joseph F. Gravlee Jr, MD Ophthalmologist
-
Myers John R MD Ophthalmologist
-
Dr. Courtney Ray Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.22M
Comparable Approach
Comparable
$1.56M
Blend (final)
Blend
$1.42M
Owner & transaction history
Vpu Foley LLC · 2 yrs held
Vpu Foley LLC
since 2024
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+57.3%
Restaurant
$2.0M
+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%
$1,315,000
6.5%
$1,215,000
7%
$1,130,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,290,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,030,000
Change: +57% · Conversion: Moderate
RESTAURANT
$2,015,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$1,125,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$1,050,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.42M
Range $1.28M – $1.56M · ±10% · vs last sale $1.45M (Apr 25 2024)
Last sale anchor
$1.45M
Apr 25 2024
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
$215 / 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
$8,148
Tax year 2023
Assessed value
$246,920
Assessed 2023
Previous assessed
$246,920
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$85,560
Assessed improvement
$161,360
Land market value
$427,800
Improvement market value
$806,800
Total market value
$1,234,600
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
1997
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
6,602 SF
Lot
0.93 ac (40,511 SF)
APN
54-05-21-2-000-002.004
UPID
US03-0854100
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
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RESTAURANT
Est. value
$2.0M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Vpu Foley LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2024
$1,450,251
Vpu Foley LLC
Doc 1624 North Mckenzie Street Mob
Warranty Deed
$418,388,594 · Doc Dr LLC
Jul 24, 2024
—
Vpu Foley LLC
Doc 1624 North Mckenzie Street Mob
Warranty Deed
—
Oct 23, 2015
$1,318,000
Doc-1624 North Mckenzie Street
1624 N Mckenzie Street LLC
Warranty Deed
—
Jul 15, 2014
$65,500
Tin Roof LLC
Joseph F Gravlee JR
Warranty Deed
—
—
—
Joseph F Gravlee JR.
—
Deed Of Trust
related
$500,000 · Southern Eye Network LLC
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?”
You own 1624 Mckenzie St, Unit 1?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
