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Property profile & analytics
FOR LEASE
Investment properties
200 28Th St South Birmingham, AL 35233
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US03-0474327
For Lease
1 / 10
$1,265,000
200 28Th St South, Birmingham, AL 35233
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1970
Total area
3,880 SF
Lot
0.23 ac (9,990 SF)
Zoning code
M1
APN
23-00-31-2-028-001.000
UPID
US03-0474327
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 Sage Hotel & Motel Resort
-
Barri Thompson Interiors Interior Design Home Decor Store
-
AO Studio Architect
-
Interstate Batteries of Greater Alabama Auto Parts Store
-
Architectural Hardware Supply Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.27M
Owner & transaction history
Ah Pepper Property LLC · 4 yrs held
Ah Pepper Property LLC
since 2022
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+34.4%
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
$1,260,000
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$780,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,050,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.60M (Jun 13 2022)
Last sale anchor
$1.60M
Jun 13 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
$326 / 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
$11,030
Tax year 2022
Assessed value
$170,840
Assessed 2023
Previous assessed
$152,140
+12.3% YoY
Effective rate
6.46%
On assessed value
Assessed land
$83,920
Assessed improvement
$86,920
Land market value
$419,600
Improvement market value
$434,600
Total market value
$854,200
Applied tax rate
31.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1970
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
2
Total area
3,880 SF
Lot
0.23 ac (9,990 SF)
Zoning code
M1
APN
23-00-31-2-028-001.000
UPID
US03-0474327
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, AL
Zoning M1 · permitted uses
M1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$780,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1970
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Ah Pepper Property LLC
Entity
Mailing address
2700 2ND AVE S #200, BIRMINGHAM, AL 35233-2704
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2022
$1,600,000
Ah Pepper Property LLC
Oz Rbm Squared II LLC
Warranty Deed
$1,480,280 · Servisfirst Bank
Jul 12, 2018
$347,500
Oz-rbms Squared II LLC
Rbm Squared LLC
Warranty Deed
—
Feb 17, 2017
—
Rbm Squared LLC
—
Deed
related
$657,000 · Progress Bank & Trust
May 5, 2008
—
Rbm Squared LLC
Owner Name Unavailable
Grant Deed
related
—
Mar 11, 2001
—
Louis J Tortorigi
Tortorigi,louis
Quit Claim Deed
related
—
—
—
Rbm Squared LLC
—
Deed Of Trust
related
$657,000 · Progress Bk&tr
—
—
Rbm Squared LLC
—
Deed Of Trust
related
$341,000 · Miscellaneous Govt Agcy
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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