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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Medical Office Space
29 Spg Run Dr Fairhope, AL 36532-1925
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US03-0631123
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Total area
4,970 SF
Lot
0.46 ac (20,038 SF)
APN
46-05-21-0-000-010.041
UPID
US03-0631123
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
-
Accuvision Center Ophthalmologist (Bike/Boat/Book/etc) Store
-
Baldwin County Eye Institute Pc Ophthalmologist
-
Childs Richard C MD Ophthalmologist
-
Dr. Thomas B. Friman Sr, MD Ophthalmologist
-
Richard Craig Childs Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$875k
CAP Approach
CAP
$915k
Comparable Approach
Comparable
$760k
Blend (final)
Blend
$890k
Owner & transaction history
Sunset Sleep Properties LLC · 2 yrs held
Sunset Sleep Properties LLC
since 2024
Last sale
$975,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+21.3%
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 Fairhope submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairhope 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
$840,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$970,000
Current use
OFFICE BUILDING
$1,180,000
Change: +21% · Conversion: Easy
RETAIL STORES
$835,000
Change: -14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$820,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$890k
Range $801k – $979k · ±10% · vs last sale $975k (Apr 12 2024)
Last sale anchor
$975k
Apr 12 2024
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
$179 / 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
$6,586
Tax year 2023
Assessed value
$137,380
Assessed 2023
Previous assessed
$137,380
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$41,460
Assessed improvement
$95,920
Land market value
$347,602
Improvement market value
$804,198
Total market value
$1,151,800
Applied tax rate
63.0000
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
2006
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Bathrooms
1
Total area
4,970 SF
Lot
0.46 ac (20,038 SF)
APN
46-05-21-0-000-010.041
UPID
US03-0631123
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
MEDICAL BUILDING Current
Est. value
$970,000
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$820,000
MEDICAL BUILDING Current
OFFICE 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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Sunset Sleep Properties LLC
Entity
Mailing address
PO BOX 459, RICKMAN, TN 38580
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2024
$975,000
Sunset Sleep Properties LLC
Jeanne M Birkenhauer
Warranty Deed
$877,500 · The Citizens Bank
Sep 1, 2023
$800,000
Jeanne M Blrkenhauer
Bcf Properties LLC
Warranty Deed
$400,000 · Bryant Bank
Nov 24, 2004
$500
Bcf Properties LLC
Baldwin County Eye Inst PC
Warranty 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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