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Property profile & analytics
OFF-MARKET
Estimated value
$1,695,000
Office buildings
201 Faulkner Dr Bay Minette, AL 36507-2711
Entity Owned
20-yr Hold
Free & Clear
Property ID
US03-1095984
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,159 SF
Lot
1.13 ac (49,223 SF)
APN
23-05-21-2-003-031.001
UPID
US03-1095984
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
-
Career Center System Employment Agency
-
Adult Vocational Rehab Services Rehabilitation Center
-
Baldwin County Assessment Center Business Service Center Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.56M
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$1.70M
Owner & transaction history
B-t LLC · 20 yrs held
B-t LLC
since 2005
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.5M
+69.4%
Restaurant
$2.5M
+68.0%
Medical building
$1.6M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,690,000
6.5%
$1,560,000
7%
$1,450,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,480,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,510,000
Change: +69% · Conversion: Easy
RESTAURANT
$2,490,000
Change: +68% · Conversion: Moderate
MEDICAL BUILDING
$1,595,000
Change: +8% · Conversion: Easy
RETAIL STORES
$1,370,000
Change: -8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,345,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±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
$208 / 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
$5,618
Tax year 2023
Assessed value
$132,180
Assessed 2023
Previous assessed
$132,180
+0.0% YoY
Effective rate
4.25%
On assessed value
Assessed land
$6,440
Assessed improvement
$125,740
Land market value
$32,200
Improvement market value
$628,700
Total market value
$660,900
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Bathrooms
2
Total area
8,159 SF
Lot
1.13 ac (49,223 SF)
APN
23-05-21-2-003-031.001
UPID
US03-1095984
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
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
RESTAURANT
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
1.13 ac
Current owner
From public records · entity-resolved
B-t LLC
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 579, BAY MINETTE, AL 36507-0579
Ownership since
2005
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 4, 2005
$10,000
B-t LLC
Met Corp
Warranty Deed
—
—
—
Met Corp
—
Loan Modification
related
$318,922 · Wachovia Bk/ga
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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