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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Medical Office Space
3000 Cres Ave Birmingham, AL 35209-2524
Individually Owned
6-yr Hold
Free & Clear
Property ID
US03-0953781
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1950
Total area
3,809 SF
Lot
0.24 ac (10,500 SF)
Zoning code
C1
APN
28-00-07-3-035-001.000
UPID
US03-0953781
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
-
Julie Katz Callaway PC Law Firm
-
Steel City Law Law Firm
-
Callaway Smith LLC Law Firm
-
Boyd Davis Shayana Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$423k
Blend (final)
Blend
$590k
Owner & transaction history
William H Wades JR. · 6 yrs held
William H Wades JR.
since 2020
2 recorded transactions
Zoning & alternative use
C1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
1. Neighborhood Commercial (C-1) District. The neighborhood commercial district is designed to allow for areas of neighborhood retail and services that meet the day-to-day needs of residents and workers of sur rounding neighborhoods (typically within a 1 -mile radius) Uses in this district include: smaller grocery stores, banks, restaurants and services such…
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
163.02 ac
Source
Planning/Zoning (MapServer)
Top alternative use upside
Commercial (general)
$805,000
+18.7%
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 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%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$680,000
Current use
COMMERCIAL (GENERAL)
$805,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$635,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$615,000
Change: -10% · 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
$155 / 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
$14,469
Tax year 2022
Assessed value
$208,980
Assessed 2023
Previous assessed
$192,920
+8.3% YoY
Effective rate
6.92%
On assessed value
Assessed land
$151,200
Assessed improvement
$57,780
Land market value
$756,000
Improvement market value
$288,900
Total market value
$1,044,900
Applied tax rate
12.0000
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
1950
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
2
Total area
3,809 SF
Lot
0.24 ac (10,500 SF)
Zoning code
C1
APN
28-00-07-3-035-001.000
UPID
US03-0953781
Jurisdiction
JEFFERSON
Zoning & alternative use
C1 · Birmingham, ALZoning C1 · permitted uses
C1 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
1. Neighborhood Commercial (C-1) District. The neighborhood commercial district is designed to allow for areas of neighborhood retail and services that meet the day-to-day needs of residents and workers of sur rounding neighborhoods (typically within a 1 -mile radius) Uses in this district include: smaller grocery stores, banks, restaurants and services such as small professional and health offices, barber/beauty shops, dry cleaners, small - to medium -scale offices, schools, churches, and neighborhood -serving public uses. This district is
Zone name
Neighborhood Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
163.02 ac
Source
Planning/Zoning (MapServer)
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$805,000
OFFICE BUILDING
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$615,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
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
1950
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
William H Wades JR.
Individual
Free & Clear · 6 yrs held
Mailing address
PO BOX 59361, HOMEWOOD, AL 35259-9361
Ownership since
2020
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
Jul 8, 2020
—
William H Wades JR.
William H Wades JR.
Quit Claim Deed
—
Apr 1, 2012
$305,000
William H Wade JR
Owner Name Unavailable
Grant 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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