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Property profile & analytics
FOR LEASE
Office Spaces
3500 Blue Lake Dr Birmingham, AL 35243
Entity Owned
4-yr Hold
Free & Clear
Property ID
US03-1218560
For Lease
1 / 2
$22.50 SF/Yr
3500 Blue Lake Dr, Birmingham, AL 35243
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1982
Total area
11,159 SF
Lot
9.94 ac (432,899 SF)
APN
28-00-27-1-000-004.000
UPID
US03-1218560
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
-
Mc Kesson Pharmacy Systems Factory Production Facility
-
RICOH U.S.A. Big Box & Wholesale Store
-
Mike Slocumb Law Firm Law Firm
-
RealtySouth Real Estate Agency
-
Ebsco Industries Inc Data Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tso Blue Lake LP · 4 yrs held
Tso Blue Lake LP
since 2021
Last sale
$19.4M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$323,946
Tax year 2022
Assessed value
$4,600,000
Assessed 2023
Previous assessed
$4,468,220
+2.9% YoY
Effective rate
7.04%
On assessed value
Assessed land
$716,083
Assessed improvement
$3,883,917
Land market value
$4,328,800
Improvement market value
$23,478,700
Total market value
$27,807,500
Applied tax rate
30.0000
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
For Lease
Year built
1982
Heating
FORCED AIR
Cooling
YES
Stories
4
Total area
11,159 SF
Lot
9.94 ac (432,899 SF)
APN
28-00-27-1-000-004.000
UPID
US03-1218560
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1982
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
9.94 ac
Current owner
From public records · entity-resolved
Tso Blue Lake LP
Entity
Free & Clear · 4 yrs held
Mailing address
1170 PEACHTREE ST NE, ATLANTA, GA 30309-7649
Ownership since
2021
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 14, 2021
$19,400,000
Tso Blue Lake LP
Poh Blue Lake LLC
Warranty Deed
—
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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