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Property profile & analytics
OFF-MARKET
Estimated value
$2,795,000
Turn key restaurants
24281 Perdido Bch Blvd Orange Beach, AL 36561-3057
Entity Owned
~
Est. High Equity
Property ID
US03-0521409
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1993
Total area
6,542 SF
Lot
5.7 ac (248,292 SF)
APN
65-04-18-0-000-004
UPID
US03-0521409
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
-
Live Bait Restaurant Restaurant
-
Live Bait Night Club Restaurant
-
Sharky’s Restaurant
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.38M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$2.80M
Owner & transaction history
Mgfb 2 LLC
Mgfb 2 LLC
since 2025
Last sale
$3.0M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+0.8%
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 Orange Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Orange Beach 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
$2,560,000
ML approach
$2,380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,995,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,010,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.80M
Range $2.52M – $3.07M · ±10% · vs last sale $3.00M (Jun 30 2025)
Last sale anchor
$3.00M
Jun 30 2025
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
$427 / 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
$22,532
Tax year 2023
Assessed value
$678,960
Assessed 2023
Previous assessed
$678,960
+0.0% YoY
Effective rate
3.32%
On assessed value
Assessed land
$283,560
Assessed improvement
$395,400
Land market value
$1,417,800
Improvement market value
$1,977,000
Total market value
$3,394,800
Applied tax rate
13.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Bathrooms
2
Total area
6,542 SF
Lot
5.7 ac (248,292 SF)
APN
65-04-18-0-000-004
UPID
US03-0521409
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
RESTAURANT Current
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
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
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
5.7 ac
Current owner
From public records · entity-resolved
Mgfb 2 LLC
Entity
Mailing address
24281 PERDIDO BCH BLVD, ORANGE BEACH, AL 36561-3057
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2025
$2,999,000
Mgfb 2 LLC
Southstate Bank NA
Warranty Deed
$3,199,000 · First Horizon Bank
May 22, 2025
$2,107,000
Southstate Bank NA
Rjm Holdings LLC
Deed
related
—
Jan 12, 2022
$3,000,000
Rjm Holdings LLC
Gt Properties LLC
Warranty Deed
$3,266,900 · Southstate NA
Jul 17, 2020
—
Gt Properties LLC
—
Deed
related
$200,000 · Servisfirst Bank
—
—
Gt Properties LLC
—
Deed Of Trust
related
$900,000 · Servisfirst Bank
—
—
Carole O Burdette
—
Deed Of Trust
related
$285,000 · Mortgage Source
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.
Try Rey
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