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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Investment properties
203 Airport Cmns Dr Alabaster, AL 35007
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US03-1691993
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2007
Total area
3,910 SF
Lot
0.88 ac (38,507 SF)
APN
229322001001025
UPID
US03-1691993
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$538k
Blend (final)
Blend
$550k
Owner & transaction history
Venkatreddy Chintareddy · 2 yrs held
Venkatreddy Chintareddy
since 2024
Last sale
$548,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$715,000
+45.0%
Office building
$575,000
+16.6%
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 Alabaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alabaster 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
$550,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$695,000
7%
$645,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$495,000
Current use
MEDICAL BUILDING
$715,000
Change: +45% · Conversion: Easy
OFFICE BUILDING
$575,000
Change: +17% · Conversion: Easy
RETAIL STORES
$490,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $548k (Jan 19 2024)
Last sale anchor
$548k
Jan 19 2024
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
$141 / 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
$5,894
Tax year 2023
Assessed value
$109,140
Assessed 2023
Previous assessed
$109,140
+0.0% YoY
Effective rate
5.40%
On assessed value
Land market value
$202,010
Improvement market value
$343,650
Total market value
$545,660
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
3,910 SF
Lot
0.88 ac (38,507 SF)
APN
229322001001025
UPID
US03-1691993
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
COMMERCIAL (GENERAL) Current
Est. value
$495,000
MEDICAL BUILDING
Est. value
$715,000
OFFICE BUILDING
Est. value
$575,000
RETAIL STORES
Est. value
$490,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
2007
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Venkatreddy Chintareddy
Individual
Mailing address
3134 RENFRO RD, VESTAVIA HILLS, AL 35216-4112
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2024
$548,000
Venkatreddy Chintareddy
T3 Properties LLC
Warranty Deed
$438,400 · Central State Bank
Jan 6, 2020
$335,000
T 3 Properties LLC
Ellis H III
Warranty Deed
—
May 24, 2019
$335,000
Ellis H Till III
Mirage Properties LLC
Grant Deed
—
Jun 3, 2008
$500,000
Servisfirst Bank
Auctioneer Of Shelby County
Trustees Deed
related
—
Apr 27, 2006
$200,000
Mayhall Builders INC
Shelby Land & Development LLC
Warranty Deed
$964,000 · Servisfirst Bank
Sep 30, 2005
—
Shelby Land & Dev LLC
Old Heritage Partners LLC
Grant Deed
related
—
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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