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Property profile & analytics
OFF-MARKET
Estimated value
$3,295,000
Medical Office Space
2316 1st S Ave Birmingham, AL 35233-2414
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US03-0560051
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1947
Total area
18,184 SF
Lot
1.32 ac (57,369 SF)
Zoning code
M1
APN
22-00-36-1-018-001.000
UPID
US03-0560051
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
-
KSS | Consulting Consultant
-
Avenues AC Condominium Complex
-
Microfit Group Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Southwest Greens of Birmingham Construction Company General Contractor
-
Birmingham Animal Hospital + Resort Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.18M
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
$4.54M
Blend (final)
Blend
$3.30M
Owner & transaction history
Bellman Holdings LLC · 4 yrs held
Bellman Holdings LLC
since 2021
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+53.6%
Neighborhood: shopping center
$4.9M
+51.9%
Apartment house (5+ units)
$3.7M
+13.3%
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
$3,145,000
ML approach
$3,175,000
CAP Approach
CAP Return
Estimation
6%
$3,840,000
6.5%
$3,545,000
7%
$3,290,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,235,000
Current use
RESTAURANT
$4,970,000
Change: +54% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,915,000
Change: +52% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,665,000
Change: +13% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,660,000
Change: +13% · Conversion: Easy
OFFICE BUILDING
$3,040,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,930,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.30M
Range $2.97M – $3.62M · ±10% · vs last sale $3.30M (Sep 8 2021)
Last sale anchor
$3.30M
Sep 8 2021
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
$181 / 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
$52,829
Tax year 2022
Assessed value
$958,020
Assessed 2023
Previous assessed
$728,680
+31.5% YoY
Effective rate
5.51%
On assessed value
Assessed land
$367,200
Assessed improvement
$590,820
Land market value
$1,836,000
Improvement market value
$2,954,100
Total market value
$4,790,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1947
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
2
Total area
18,184 SF
Lot
1.32 ac (57,369 SF)
Zoning code
M1
APN
22-00-36-1-018-001.000
UPID
US03-0560051
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
MEDICAL BUILDING Current
Est. value
$3.2M
RESTAURANT
Est. value
$5.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1947
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.32 ac
Current owner
From public records · entity-resolved
Bellman Holdings LLC
Entity
Mailing address
37 NORMAN DR, MOUNTAIN BRK, AL 35213-4328
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2021
$3,300,000
Bellman Holdings LLC
Markle LLC
Warranty Deed
$4,000,000 · Servisfirst Bank
Sep 16, 2016
$2,900,000
Markle LLC
2316 1st Avenue South Ptrs LLC
Warranty Deed
$1,200,000 · 2316 1st Avenue South Ptrs LLC
Sep 28, 2006
$250,000
2316 1st Avenue South Ptrs LLC
Lemak,lawrence J
Warranty Deed
—
Sep 28, 2005
$1,475,000
Lemak Group Of Companies LLC
2316 South LLC
Grant Deed
$1,160,000 · Compass Bk
May 14, 2004
—
2316 South LLC
International Investments LLC
Quit Claim Deed
related
—
Feb 24, 2004
—
International Investments LLC
David,issac
Quit Claim Deed
related
—
Aug 8, 2000
—
The David Group INC
Jefferson,news C
Grant Deed
related
—
—
—
David,isaac
—
Deed Of Trust
related
$870,000 · First American Bk/fl
—
—
David,isaac
—
Deed Of Trust
related
$300,000 · National Bk/commerce/birmingha
—
—
David,issac
—
Deed Of Trust
related
$240,000 · National Bk/commerce/birmingha
—
—
2316 1st Avenue South Ptrs LLC
—
Deed Of Trust
related
$1,300,000 · Bank Of Tuscaloosa
—
—
Bretwood Co
—
Loan Modification
related
$2,175,000 · Bancorpsouth
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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