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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office buildings
201 2nd St Bay Minette, AL 36507-4831
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US03-1660237
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
3,807 SF
Lot
0.21 ac (9,148 SF)
APN
23-02-09-4-401-022
UPID
US03-1660237
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
-
Biles Bayless E Law Firm
-
Wilkins Bankster Biles & Wynn: Mc Dowell Marcus Law Firm
-
Pilcher and Grissom Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$320k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$644k
Blend (final)
Blend
$520k
Owner & transaction history
Thomas Pilcher LLC · 8 yrs held
Thomas Pilcher LLC
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$745,000
+7.7%
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 Bay Minette submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bay Minette 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
$320,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$690,000
Current use
MEDICAL BUILDING
$745,000
Change: +8% · Conversion: Easy
RETAIL STORES
$640,000
Change: -8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$625,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$137 / 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
$1,654
Tax year 2023
Assessed value
$37,860
Assessed 2023
Previous assessed
$37,860
+0.0% YoY
Effective rate
4.37%
On assessed value
Assessed land
$14,780
Assessed improvement
$23,080
Land market value
$73,900
Improvement market value
$115,400
Total market value
$189,300
Applied tax rate
3.0000
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
1985
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
8
Bathrooms
1
Total area
3,807 SF
Lot
0.21 ac (9,148 SF)
APN
23-02-09-4-401-022
UPID
US03-1660237
Jurisdiction
BALDWIN
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
$690,000
MEDICAL BUILDING
Est. value
$745,000
RETAIL STORES
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$625,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
8
Bathrooms
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Thomas Pilcher LLC
Entity
Mailing address
PO BOX 1598, ROBERTSDALE, AL 36567-1598
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2022
—
Thomas Pilcher LLC
—
Deed
related
$315,500 · Iberiabank
May 15, 2020
—
Thomas Pilcher LLC
—
Deed
related
$292,000 · Trustmark Nat'l Bk
May 22, 2018
—
Thomas Pilcher LLC
Baytown Properties Lc
Warranty Deed
$255,000 · Trustmark National Bank
—
—
Baytown Properties LLC
—
Deed Of Trust
related
$220,000 · United Bank
—
—
Thomas Pilcher LLC
—
Loan Modification
related
$292,000 · Trustmark Nat'l 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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