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Property profile & analytics
OFF-MARKET
Estimated value
$1,225,000
Warehouses
204 Michigan Ave Foley, AL 36535-2412
Entity Owned
5-yr Hold
Free & Clear
Property ID
US03-0638065
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Total area
16,848 SF
Lot
1.77 ac (77,101 SF)
APN
54-08-33-3-000-018.006
UPID
US03-0638065
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
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
$1.64M
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.23M
Owner & transaction history
A & R Design & Construction LLC · 5 yrs held
A & R Design & Construction LLC
since 2020
Last sale
$910,600
6 recorded transactions
Zoning & alternative use
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 Foley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Foley 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
$1,220,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
$1,770,000
6.5%
$1,635,000
7%
$1,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,675,000
Current use
Blend value · Realmo final
$1.23M
Range $1.10M – $1.35M · ±10% · vs last sale $911k (Dec 21 2020)
Last sale anchor
$911k
Dec 21 2020
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
$73 / 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
$7,913
Tax year 2023
Assessed value
$239,800
Assessed 2023
Previous assessed
$239,800
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$131,400
Assessed improvement
$108,400
Land market value
$657,000
Improvement market value
$542,000
Total market value
$1,199,000
Applied tax rate
7.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1981
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Total area
16,848 SF
Lot
1.77 ac (77,101 SF)
APN
54-08-33-3-000-018.006
UPID
US03-0638065
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
WAREHOUSE, STORAGE Current
Est. value
$1.7M
WAREHOUSE, STORAGE Current
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
1981
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
A & R Design & Construction LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 2138, GULF SHORES, AL 36547-2138
Ownership since
2020
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
Dec 21, 2020
$910,600
A & R Design & Construction LLC
Virendra Patel
Warranty Deed
—
Oct 6, 2017
—
Uptown Plaza LLC
—
Deed
related
$380,000 · The First A National Banking Assn
Apr 24, 2017
$475,000
Citizens Bk
Auctioneer Of Baldwin County|z & R Properties LLC
Trustees Deed
related
—
Jul 24, 2012
$797,250
Z & R Properties LLC
Cole & Cole INC
Warranty Deed
$616,250 · Citizens Federal Bank Fsb
Dec 29, 2008
—
Cole & Cole INC
—
Trustees Deed
related
$150,000 · Vision Bank Fsb
—
—
Cole & Cole INC
—
Deed Of Trust
related
$400,000 · Vision Bank Fsb
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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