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Property profile & analytics
OFF-MARKET
Estimated value
$18,290,000
Office Spaces
2801 Hwy 280th S Birmingham, AL 35223-2479
Entity Owned
7-yr Hold
Free & Clear
Property ID
US03-0490492
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1976
Total area
93,895 SF
Lot
20.85 ac (908,139 SF)
Zoning code
C1
APN
28-00-08-4-007-007.000
UPID
US03-0490492
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
by Request
CAP Approach
CAP
$16.77M
Comparable Approach
Comparable
$23.84M
Blend (final)
Blend
$18.29M
Owner & transaction history
Protective Life Ins Co · 7 yrs held
Protective Life Ins Co
since 2018
1 recorded transaction
Zoning & alternative use
C1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$25.7M
+103.4%
Neighborhood: shopping center
$25.4M
+101.1%
Apartment house (5+ units)
$18.9M
+50.0%
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%
$18,170,000
6.5%
$16,770,000
7%
$15,575,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,620,000
Current use
RESTAURANT
$25,675,000
Change: +103% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$25,385,000
Change: +101% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$18,930,000
Change: +50% · Conversion: Moderate
MEDICAL BUILDING
$16,715,000
Change: +32% · Conversion: Easy
OFFICE BUILDING
$15,700,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$15,115,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$11,485,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$18.29M
Range $16.46M – $20.12M · ±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
$195 / 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
$1.00
Tax year 2022
Assessed value
$23,992,100
Assessed 2023
Previous assessed
$23,875,340
+0.5% YoY
Effective rate
0.00%
On assessed value
Assessed land
$908,138
Assessed improvement
$23,083,962
Land market value
$4,540,700
Improvement market value
$115,420,000
Total market value
$119,960,700
Applied tax rate
1.0000
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
1976
Heating
FORCED AIR
Cooling
YES
Stories
4
Bathrooms
3
Total area
93,895 SF
Lot
20.85 ac (908,139 SF)
Zoning code
C1
APN
28-00-08-4-007-007.000
UPID
US03-0490492
Jurisdiction
JEFFERSON
Zoning & alternative use
C1 · Birmingham, AL
Zoning C1 · permitted uses
C1 · 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
$12.6M
RESTAURANT
Est. value
$25.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$18.9M
MEDICAL BUILDING
Est. value
$16.7M
OFFICE BUILDING
Est. value
$15.7M
AUTO REPAIR, GARAGE
Est. value
$15.1M
RETAIL STORES
Est. value
$11.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1976
Heating
FORCED AIR
Cooling
Yes
Stories
4
Bathrooms
3
Lot
20.85 ac
Current owner
From public records · entity-resolved
Protective Life Ins Co
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 11289, BIRMINGHAM, AL 35202-1289
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2018
—
Protective Life Ins Co
Wachovia Dev Corp
Quitclaim Deed
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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