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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Office Spaces
2231 4th S Ave Birmingham, AL 35233-2307
Entity Owned
3-yr Hold
Free & Clear
Property ID
US03-0889520
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2003
Construction
STEEL FRAME
Total area
5,068 SF
Lot
0.64 ac (28,000 SF)
Zoning code
M1
APN
22-00-36-4-009-001.000
UPID
US03-0889520
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
-
PetNet Solutions Pharmacy
-
Siemens Engineer Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$670k
Owner & transaction history
Fourth Avenue Lot LLC · 3 yrs held
Fourth Avenue Lot LLC
since 2023
Last sale
$650,000
3 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.0M
+0.2%
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
$715,000
ML approach
$670,000
CAP Approach
CAP Return
Estimation
6%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,020,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,020,000
Change: +0% · Conversion: Moderate
MEDICAL BUILDING
$900,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$845,000
Change: -17% · Conversion: Easy
AUTO REPAIR, GARAGE
$815,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±10% · vs last sale $650k (Apr 10 2023)
Last sale anchor
$650k
Apr 10 2023
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
$132 / 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
$19,172
Tax year 2022
Assessed value
$295,880
Assessed 2023
Previous assessed
$264,440
+11.9% YoY
Effective rate
6.48%
On assessed value
Assessed land
$179,200
Assessed improvement
$116,680
Land market value
$896,000
Improvement market value
$583,400
Total market value
$1,479,400
Applied tax rate
30.0000
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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
5,068 SF
Lot
0.64 ac (28,000 SF)
Zoning code
M1
APN
22-00-36-4-009-001.000
UPID
US03-0889520
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, AL
Zoning M1 · permitted uses
M1 · 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
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$900,000
OFFICE BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$815,000
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
Fourth Avenue Lot LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1000 URBAN CTR DR STE #675, VESTAVIA, AL 35242-2571
Ownership since
2023
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
Apr 10, 2023
$650,000
Fourth Avenue Lot LLC
Challenger Commercial Properties Of
Warranty Deed
—
—
—
Challenger Commercial Props Of Al
—
Deed Of Trust
related
$292,147 · Iberiabank
—
—
Challenger Coml Props Of Alabama
—
Loan Modification
related
$346,000 · Iberia Bk
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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