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Property profile & analytics
OFF-MARKET
Estimated value
$4,810,000
Strip malls
1919 28th S Ave Birmingham, AL 35209-2684
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US03-0398681
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
24,589 SF
Lot
1.11 ac (48,264 SF)
Zoning code
C4B
APN
28-00-07-3-018-001.000
UPID
US03-0398681
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
-
Toddies Package Store (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Supercuts Hair Salon
-
W. Brazilian Wax Hair Salon
-
Nail World II Nail Salon
-
Whiskey Foxtrot Burger Shoppe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.70M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.81M
Owner & transaction history
Merchants Walk Partners LLC · 10 yrs held
Merchants Walk Partners LLC
since 2015
2 recorded transactions
Zoning & alternative use
C4B · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.7M
+1.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,090,000
6.5%
$4,700,000
7%
$4,365,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,645,000
Current use
RESTAURANT
$6,725,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.81M
Range $4.33M – $5.29M · ±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
$196 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$76,523
Tax year 2022
Assessed value
$978,700
Assessed 2023
Previous assessed
$1,020,300
-4.1% YoY
Effective rate
7.82%
On assessed value
Assessed land
$660,200
Assessed improvement
$318,500
Land market value
$3,301,000
Improvement market value
$1,592,500
Total market value
$4,893,500
Applied tax rate
12.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
24,589 SF
Lot
1.11 ac (48,264 SF)
Zoning code
C4B
APN
28-00-07-3-018-001.000
UPID
US03-0398681
Jurisdiction
JEFFERSON
Zoning & alternative use
C4B · Birmingham, AL
Zoning C4B · permitted uses
C4B · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.6M
RESTAURANT
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.11 ac
Current owner
From public records · entity-resolved
Merchants Walk Partners LLC
Entity
Mailing address
1616 2ND AVE S, BIRMINGHAM, AL 35233-1712
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2015
$7,179,000
Merchants Walk Partners LLC
Merchants Walk Ltd
Warranty Deed
related
$5,225,000 · Wells Fargo Bk
—
—
Merchants Walk Ltd
—
Deed Of Trust
related
$2,450,000 · Column Fin'l
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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