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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Distribution centers
188 Westchester Dr Madison, AL 35758-7838
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US03-0260621
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2010
Total area
9,120 SF
Lot
2.19 ac (95,266 SF)
APN
16-04-20-2-000-068.000
UPID
US03-0260621
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
$360k
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$349k
Blend (final)
Blend
$550k
Owner & transaction history
Lf Properties LLC · 7 yrs held
Lf Properties LLC
since 2018
7 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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$360,000
CAP Approach
CAP Return
Estimation
6%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$620,000
Current use
INDUSTRIAL (GENERAL)
$600,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$60 / 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
$8,479
Tax year 2023
Assessed value
$121,000
Assessed 2023
Previous assessed
$96,980
+24.8% YoY
Effective rate
7.01%
On assessed value
Assessed land
$28,580
Assessed improvement
$92,420
Land market value
$142,900
Improvement market value
$462,100
Total market value
$605,000
Applied tax rate
5.0000
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
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
9,120 SF
Lot
2.19 ac (95,266 SF)
APN
16-04-20-2-000-068.000
UPID
US03-0260621
Jurisdiction
MADISON
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
$620,000
INDUSTRIAL (GENERAL)
Est. value
$600,000
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
2010
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.19 ac
Current owner
From public records · entity-resolved
Lf Properties LLC
Entity
Mailing address
106 2ND HORSE TRL, HARVEST, AL 35749-9636
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2018
$740,000
Lf Properties LLC
Riverfront 1432 LLC
Warranty Deed
$600,000 · Progress Bank & Trust
Jul 26, 2018
$500
Riverfront 1432 LLC
Bank Independent|mitchell Holdings LLC
Trustees Deed
related
$611,250 · Bank Independent
Aug 17, 2017
—
Mitchell Holdings LLC
—
Deed
related
$815,000 · Bank Independent
May 19, 2009
—
Mitchell Holdings LLC
The Austin Group INC
Warranty Deed
$428,000 · Wachovia Bank NA
—
—
Mitchell Holdings LLC
—
Deed Of Trust
related
$417,107 · Bank Independent
—
—
Mitchell Indl Contractors INC
—
Deed Of Trust
related
$476,164 · Peoples Bank
—
—
Mitchell Holdings LLC
—
Loan Modification
related
$815,000 · Bank Independent
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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