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Property profile & analytics
OFF-MARKET
Estimated value
$9,750,000
Office buildings
22251 Palmer St Robertsdale, AL 36567-3067
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US03-0997021
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
46,778 SF
Lot
3.65 ac (158,994 SF)
APN
47-01-01-4-000-009.002
UPID
US03-0997021
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
-
Baldwin County Council On Aging Social Service Agency Charitable Organization
-
Baldwin County Central Annex Vehicle Inspection Center
-
Baldwin County Solid Waste Waste Management Facility Hazardous Waste Disposal
-
Baldwin County Revenue Commission Government Office
-
Baldwin County Health Department Environmental Services, Birth & Death Certificates State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.96M
Comparable Approach
Comparable
$10.14M
Blend (final)
Blend
$9.75M
Owner & transaction history
Public Building Authority Of Bald · 19 yrs held
Public Building Authority Of Bald
since 2007
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$14.4M
+69.4%
Restaurant
$14.3M
+68.0%
Medical building
$9.1M
+7.7%
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 Robertsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Robertsdale 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%
$9,700,000
6.5%
$8,955,000
7%
$8,315,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,490,000
Current use
APARTMENT HOUSE (5+ UNITS)
$14,380,000
Change: +69% · Conversion: Easy
RESTAURANT
$14,270,000
Change: +68% · Conversion: Moderate
MEDICAL BUILDING
$9,145,000
Change: +8% · Conversion: Easy
RETAIL STORES
$7,845,000
Change: -8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,700,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$9.75M
Range $8.78M – $10.73M · ±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
$208 / 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
Assessed value
$1,148,200
Assessed 2023
Previous assessed
$1,148,200
+0.0% YoY
Assessed land
$16,300
Assessed improvement
$1,131,900
Land market value
$81,500
Improvement market value
$5,659,500
Total market value
$5,741,000
Applied tax rate
10.0000
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
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
5
Total area
46,778 SF
Lot
3.65 ac (158,994 SF)
APN
47-01-01-4-000-009.002
UPID
US03-0997021
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
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.4M
RESTAURANT
Est. value
$14.3M
MEDICAL BUILDING
Est. value
$9.1M
RETAIL STORES
Est. value
$7.8M
COMMERCIAL (GENERAL)
Est. value
$7.7M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
5
Lot
3.65 ac
Current owner
From public records · entity-resolved
Public Building Authority Of Bald
Entity
Mailing address
312 COURTHOUSE SQ #12, BAY MINETTE, AL 36507-4809
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2007
—
Public Building Authority Of Bald
Baldwin County
Quit Claim Deed
$6,405,000 · Regions Bk/fayette
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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