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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office Spaces
2628 3rd S Ave Birmingham, AL 35233-2619
Individually Owned
12-yr Hold
Free & Clear
Property ID
US03-0999902
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1973
Total area
3,405 SF
Lot
0.32 ac (14,000 SF)
Zoning code
M1
APN
23-00-31-2-035-005.000
UPID
US03-0999902
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
-
Jeffcoat Mechanical Services Inc General Contractor Construction Company
-
Harry Jeffcoat Consulting General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$380k
Blend (final)
Blend
$590k
Owner & transaction history
Harry Jeffcoat III · 12 yrs held
Harry Jeffcoat III
since 2013
2 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$920,000
+34.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$660,000
6.5%
$610,000
7%
$565,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$685,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$920,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$570,000
Change: -17% · Conversion: Easy
AUTO REPAIR, GARAGE
$550,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$173 / 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
$9,389
Tax year 2022
Assessed value
$144,880
Assessed 2023
Previous assessed
$129,500
+11.9% YoY
Effective rate
6.48%
On assessed value
Assessed land
$89,600
Assessed improvement
$55,280
Land market value
$448,000
Improvement market value
$276,400
Total market value
$724,400
Applied tax rate
31.0000
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
1973
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
3,405 SF
Lot
0.32 ac (14,000 SF)
Zoning code
M1
APN
23-00-31-2-035-005.000
UPID
US03-0999902
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
$685,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$920,000
MEDICAL BUILDING
Est. value
$605,000
OFFICE BUILDING
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$550,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1973
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Harry Jeffcoat III
Individual
Free & Clear · 12 yrs held
Mailing address
2628 3RD AVE S, BIRMINGHAM, AL 35233-2619
Ownership since
2013
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
Nov 26, 2013
$399,000
Harry Jeffcoat III
Compher David
Quit Claim Deed
related
—
Mar 1, 1988
$215,000
Harry Jeffcoat JR
—
Deed Of Trust
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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