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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Office buildings
1904 Indian Lk Dr Birmingham, AL 35244-2217
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US03-1003714
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1993
Construction
WOOD
Total area
3,522 SF
Lot
0.61 ac (26,441 SF)
APN
104200001040000
UPID
US03-1003714
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
-
Lakeman & Peagler, LLC Law Firm
-
Classic Home Mortgage, Inc. Loan Service Bank
-
Will Manly - Princeton Mortgage NMLS #113856 Loan Service Bank
-
Erin Tatum @ Classic Home Mortgage, Inc. Loan Service Bank
-
Jeff Roquet at Classic Home Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$600k
Owner & transaction history
Keim LLC · 1 yrs held
Keim LLC
since 2025
Last sale
$650,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$950,000
+62.3%
Medical building
$625,000
+6.9%
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
$530,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$750,000
6.5%
$695,000
7%
$645,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$585,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$625,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$565,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$475,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±10% · vs last sale $650k (Jan 21 2025)
Last sale anchor
$650k
Jan 21 2025
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
$170 / 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
$4,399
Tax year 2023
Assessed value
$98,880
Assessed 2023
Previous assessed
$98,880
+0.0% YoY
Effective rate
4.45%
On assessed value
Land market value
$204,180
Improvement market value
$290,210
Total market value
$494,390
Applied tax rate
1.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
3,522 SF
Lot
0.61 ac (26,441 SF)
APN
104200001040000
UPID
US03-1003714
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
OFFICE BUILDING Current
Est. value
$585,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$950,000
MEDICAL BUILDING
Est. value
$625,000
AUTO REPAIR, GARAGE
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$475,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (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
1993
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Keim LLC
Entity
Mailing address
1904 INDIAN LK DR, BIRMINGHAM, AL 35244-2217
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2025
$650,000
Keim LLC
Zept Properties LLC
Warranty Deed
$558,398 · Cadence Bank NA
Jan 4, 2022
$199,000
Forrest J Slater
Hannah Glynn Slater
Warranty Deed
related
$129,000 · Classic Home Mortgage INC
Mar 11, 2020
—
Zept Properties LLC
—
Deed
related
$228,206 · Regions Bk
Oct 7, 2019
—
Zept Properties LLC
—
Deed
related
$138,110 · Regions Bank
May 2, 2014
$399,465
Zept Propeties LLC
Lpha Properties LLC
Warranty Deed
$339,545 · Regions Bank
Dec 15, 2011
$355,000
Lpha Properties LLC
Lakeman Properties LLC
Warranty Deed
$352,750 · Iberiabank
Mar 14, 2008
$482,000
Lakeman Properties LLC
Mason,carolyn B
Warranty Deed
$409,700 · Bryant Bank
—
—
Courtney H Mason JR.
—
Deed Of Trust
related
$303,097 · Regions Bank
—
—
Zept Properties LLC
—
Loan Modification
related
$228,206 · Regions Bk
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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