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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
24695 Commercial Ave Orange Beach, AL 36561
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US03-0361624
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
3,276 SF
Lot
0.65 ac (28,314 SF)
APN
65-03-06-0-000-002.070
UPID
US03-0361624
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
$625k
Comparable Approach
Comparable
$441k
Blend (final)
Blend
$540k
Owner & transaction history
Larry Alexander · 7 yrs held
Larry Alexander
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$640,000
+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 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
by Request
ML approach
$330,000
CAP Approach
CAP Return
Estimation
6%
$680,000
6.5%
$625,000
7%
$580,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$595,000
Current use
MEDICAL BUILDING
$640,000
Change: +8% · Conversion: Easy
RETAIL STORES
$550,000
Change: -8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$540,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$165 / 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
$4,339
Tax year 2023
Assessed value
$135,600
Assessed 2023
Previous assessed
$135,600
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$78,840
Assessed improvement
$56,760
Land market value
$394,200
Improvement market value
$283,800
Total market value
$678,000
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
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
2002
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
6
Bathrooms
1
Total area
3,276 SF
Lot
0.65 ac (28,314 SF)
APN
65-03-06-0-000-002.070
UPID
US03-0361624
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
$595,000
MEDICAL BUILDING
Est. value
$640,000
RETAIL STORES
Est. value
$550,000
COMMERCIAL (GENERAL)
Est. value
$540,000
OFFICE BUILDING Current
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Larry Alexander
Individual
Mailing address
PO BOX 1837, ORANGE BEACH, AL 36561-1837
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2018
—
Larry Alexander
—
Deed
related
$615,000 · Merchants & Marine Bank
—
—
Larry Alexander
—
Deed Of Trust
related
$526,158 · Merchants & Marine Bank
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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