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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Medical Office Space
2038 Patton Chapel Rd Hoover, AL 35216-5770
Entity Owned
16-yr Hold
Free & Clear
Property ID
US03-0727061
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1991
Total area
6,104 SF
Lot
0.45 ac (19,448 SF)
Zoning code
C1
APN
39-00-12-4-004-014.002
UPID
US03-0727061
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$935k
Blend (final)
Blend
$675k
Owner & transaction history
Patton Chapel Properties LLC · 16 yrs held
Patton Chapel Properties LLC
since 2010
5 recorded transactions
Zoning & alternative use
C1 · Hoover, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hoover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hoover 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,085,000
Current use
OFFICE BUILDING
$1,020,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$985,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$111 / 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
$12,502
Tax year 2022
Assessed value
$182,780
Assessed 2023
Previous assessed
$172,200
+6.1% YoY
Effective rate
6.84%
On assessed value
Assessed land
$42,780
Assessed improvement
$140,000
Land market value
$213,900
Improvement market value
$700,000
Total market value
$913,900
Applied tax rate
23.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1991
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
1
Total area
6,104 SF
Lot
0.45 ac (19,448 SF)
Zoning code
C1
APN
39-00-12-4-004-014.002
UPID
US03-0727061
Jurisdiction
JEFFERSON
Zoning & alternative use
C1 · Hoover, AL
Zoning C1 · permitted uses
C1 · Hoover, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hoover. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$985,000
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1991
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Patton Chapel Properties LLC
Entity
Free & Clear · 16 yrs held
Mailing address
2038 PATTON CHAPEL RD, HOOVER, AL 35216-5770
Ownership since
2010
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
Aug 9, 2021
—
Patton Chapel Properties LLC
—
Deed
related
$840,000 · Pnc Bank
Apr 12, 2017
—
Lucas B Perrigo Dmd PC Patton Chapel Properties
—
Deed
related
$1,829,500 · Iberiabank
Mar 26, 2010
—
Patton Chapel Properties LLC
Owner Name Unavailable
Grant Deed
related
—
—
—
Romano,donald M
—
Deed Of Trust
related
$500,000 · Renasant Bk
—
—
Lucas B Perrigo Dmd PC Patton Chapel Properties
—
Loan Modification
related
$1,829,500 · Iberiabank
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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