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Property profile & analytics
OFF-MARKET
Estimated value
$11,565,000
Distribution centers
175 Airview Ln Alabaster, AL 35007-4853
Entity Owned
4-yr Hold
Free & Clear
Property ID
US03-1662223
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2010
Total area
154,440 SF
Lot
12.03 ac (524,027 SF)
APN
224190000004008
UPID
US03-1662223
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
-
The Home Depot Pro Institutional Big Box & Wholesale Store
-
Jan Pak Inc Industrial Manufacturer Production Facility
-
Treadmaxx - Birmingham Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.03M
Comparable Approach
Comparable
$12.67M
Blend (final)
Blend
$11.57M
Owner & transaction history
L Shelby LLC · 4 yrs held
L Shelby LLC
since 2022
Last sale
$10.4M
4 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 Alabaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alabaster 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
$11,165,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,030,000
6.5%
$12,030,000
7%
$11,170,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$12,045,000
Current use
Blend value · Realmo final
$11.57M
Range $10.41M – $12.72M · ±10% · vs last sale $10.43M (Mar 28 2022)
Last sale anchor
$10.43M
Mar 28 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
$75 / 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
$110,254
Tax year 2023
Assessed value
$2,041,740
Assessed 2023
Previous assessed
$2,041,740
+0.0% YoY
Effective rate
5.40%
On assessed value
Land market value
$440,180
Improvement market value
$9,768,520
Total market value
$10,208,700
Applied tax rate
2.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2010
Heating
SPACE
Cooling
YES
Stories
1
Rooms
6
Bathrooms
1
Total area
154,440 SF
Lot
12.03 ac (524,027 SF)
APN
224190000004008
UPID
US03-1662223
Jurisdiction
SHELBY
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
WAREHOUSE, STORAGE Current
Est. value
$12.0M
WAREHOUSE, STORAGE Current
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
2010
Heating
SPACE
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
1
Lot
12.03 ac
Current owner
From public records · entity-resolved
L Shelby LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2821 2ND AVE SM, BIRMINGHAM, AL 35233-2844
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2022
$10,434,000
L Shelby LLC
Shelby West Industrial Ent II LLC
Warranty Deed
—
Dec 18, 2008
—
Shelby West Indl Ents Ll II
Owner Name Unavailable
Grant Deed
related
—
Jun 12, 2008
—
Shelby West Indl Ents II LLC
Shelby County Alabama
Quit Claim Deed
$7,100,000 · First American Bk/fl
—
—
Shelby West Indl Ents II LLC
—
Deed Of Trust
related
$5,057,500 · National Bank Commerce Tr & Sa
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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