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Property profile & analytics
OFF-MARKET
Estimated value
$23,185,000
Office Spaces
2204 Lakeshore Dr Birmingham, AL 35209-6729
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US03-0843284
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1980
Construction
CONCRETE
Total area
156,106 SF
Lot
14.2 ac (618,552 SF)
Zoning code
C1
APN
28-00-18-4-000-017.000
UPID
US03-0843284
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
-
Amedisys Home Health Care Home Health Care Service
-
Kracke & Thompson LLP Law Firm
-
GP Import Export LLC Big Box & Wholesale Store
-
Dent Moses, LLP Accounting Firm
-
Dr. Jeremy Bass Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.89M
Comparable Approach
Comparable
$19.92M
Blend (final)
Blend
$23.19M
Owner & transaction history
Northridge East Apartments LLC · 6 yrs held
Northridge East Apartments LLC
since 2019
3 recorded transactions
Zoning & alternative use
C1 · Birmingham, 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 Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham 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%
$30,205,000
6.5%
$27,885,000
7%
$25,890,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$32,975,000
Current use
APARTMENT HOUSE (5+ UNITS)
$31,475,000
Change: -5% · Conversion: Moderate
MEDICAL BUILDING
$27,785,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$23.19M
Range $20.87M – $25.50M · ±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
$149 / 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
$461,834
Tax year 2022
Assessed value
$6,899,320
Assessed 2023
Previous assessed
$6,157,780
+12.0% YoY
Effective rate
6.69%
On assessed value
Assessed land
$1,142,320
Assessed improvement
$5,757,000
Land market value
$5,711,600
Improvement market value
$28,785,000
Total market value
$34,496,600
Applied tax rate
12.0000
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1980
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
4
Bathrooms
1
Total area
156,106 SF
Lot
14.2 ac (618,552 SF)
Zoning code
C1
APN
28-00-18-4-000-017.000
UPID
US03-0843284
Jurisdiction
JEFFERSON
Zoning & alternative use
C1 · Birmingham, AL
Zoning C1 · permitted uses
C1 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$33.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.5M
MEDICAL BUILDING
Est. value
$27.8M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1980
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
4
Bathrooms
1
Lot
14.2 ac
Current owner
From public records · entity-resolved
Northridge East Apartments LLC
Entity
Mailing address
505 20TH ST N STE #1000, BIRMINGHAM, AL 35203-4626
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2019
$30,248,000
Northridge East Apartments LLC
Lakeshore Property Owner LLC
Trustees Deed
$20,450,000 · Miscellaneous Ins Co
Sep 3, 2014
$25,000,000
Lakeshore Property Owner LLC
Cousins Of Daniel LLC
Warranty Deed
$18,750,000 · Jp Morgan Chase Bk
—
—
Safe Future Birmingham LLC
—
Deed Of Trust
related
$150,000 · Gil Feingold
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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