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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Office buildings
21215 State Hwy 181 Fairhope, AL 36532-4455
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US03-3152726
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2009
Total area
5,092 SF
Lot
1.37 ac (59,677 SF)
APN
46-02-10-0-000-041.510
UPID
US03-3152726
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
$1.30M
CAP Approach
CAP
$975k
Comparable Approach
Comparable
$803k
Blend (final)
Blend
$1.09M
Owner & transaction history
I And P Construction LLC · 3 yrs held
I And P Construction LLC
since 2022
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+29.6%
Restaurant
$1.6M
+28.6%
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 Fairhope submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairhope 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
$1,280,000
ML approach
$1,300,000
CAP Approach
CAP Return
Estimation
6%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,210,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,565,000
Change: +30% · Conversion: Easy
RESTAURANT
$1,555,000
Change: +29% · Conversion: Moderate
MEDICAL BUILDING
$995,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $1.10M (Sep 16 2022)
Last sale anchor
$1.10M
Sep 16 2022
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
$214 / 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
$4,031
Tax year 2023
Assessed value
$130,040
Assessed 2023
Previous assessed
$130,040
+0.0% YoY
Effective rate
3.10%
On assessed value
Assessed land
$41,380
Assessed improvement
$88,660
Land market value
$206,900
Improvement market value
$443,300
Total market value
$650,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
5
Bathrooms
2
Total area
5,092 SF
Lot
1.37 ac (59,677 SF)
APN
46-02-10-0-000-041.510
UPID
US03-3152726
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
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$995,000
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
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
2009
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
2
Lot
1.37 ac
Current owner
From public records · entity-resolved
I And P Construction LLC
Entity
Mailing address
PO BOX 997, FAIRHOPE, AL 36533-0997
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2024
—
I And P Construction LLC
—
Deed
related
$724,000 · Bankplus
Sep 16, 2022
—
I And P Construction LLC
Fiarhope Single Tax Corporation
Lease
—
Sep 16, 2022
$1,100,000
P Construction LLC
Arthur Pouncey
Warranty Deed
—
Jun 30, 2006
$250,000
Arthur Pouncey
Target Development LLC
Warranty Deed
$212,000 · First Gulf Bank NA
Apr 18, 2006
$225,000
Target Dev LLC
Burroughs,gregory P & Wanda
Grant Deed
$200,000 · Compass Bank
Apr 18, 2006
$2,500
Target Dev LLC
Fairhope Single Tax Corp
Grant Deed
related
—
—
—
Gregory P Burroughs
—
Deed Of Trust
related
$119,474 · Citifinancial INC
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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