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Property profile & analytics
FOR LEASE
Office Spaces
3500 Colonnade Pkwy Birmingham, AL 35243
Individually Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-0443630
For Lease
1 / 2
$26.50 SF/Yr
3500 Colonnade Pkwy, Birmingham, AL 35243
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1989
Total area
52,396 SF
Lot
27 ac (1,176,120 SF)
Zoning code
B2
APN
28-00-27-4-001-001.003
UPID
US03-0443630
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
-
Carney Law, LLC Law Firm
-
Cadence Bank- Birmingham Colonnade Interactive Drive-thru Teller Atm
-
BMSS Wesson Consultant
-
Glenn Brandon Financial Advisor
-
Paxton E. Heath - Morgan Stanley Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.36M
Comparable Approach
Comparable
$9.21M
Blend (final)
Blend
$8.53M
Owner & transaction history
Dra & Clp Colonnade Off Bham L · 19 yrs held
Dra & Clp Colonnade Off Bham L
since 2007
2 recorded transactions
Zoning & alternative use
B2 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$14.2M
+54.2%
Apartment house (5+ units)
$10.6M
+15.0%
Medical building
$9.3M
+1.5%
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%
$10,140,000
6.5%
$9,360,000
7%
$8,690,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,185,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$14,165,000
Change: +54% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,565,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$9,325,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$8,760,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,435,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$8.53M
Range $7.68M – $9.38M · ±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
$163 / 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
$455,596
Tax year 2022
Assessed value
$14,902,780
Assessed 2023
Previous assessed
$12,380,320
+20.4% YoY
Effective rate
3.06%
On assessed value
Assessed land
$2,352,240
Assessed improvement
$12,550,540
Land market value
$11,761,200
Improvement market value
$62,752,700
Total market value
$74,513,900
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
1989
Heating
FORCED AIR
Cooling
YES
Stories
6
Bathrooms
3
Total area
52,396 SF
Lot
27 ac (1,176,120 SF)
Zoning code
B2
APN
28-00-27-4-001-001.003
UPID
US03-0443630
Jurisdiction
JEFFERSON
Zoning & alternative use
B2 · Birmingham, AL
Zoning B2 · permitted uses
B2 · 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
$9.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.6M
MEDICAL BUILDING
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.8M
AUTO REPAIR, GARAGE
Est. value
$8.4M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
6
Bathrooms
3
Lot
27 ac
Current owner
From public records · entity-resolved
Dra & Clp Colonnade Off Bham L
Individual
Free & Clear · 19 yrs held
Mailing address
2329 NOSTRAND AVE STE #200, BROOKLYN, NY 11210-3949
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
Jun 11, 2007
—
Dra & Clp Colonnade Off Bham L
Owner Name Unavailable
Grant Deed
related
—
Dec 1, 1992
$924,000
C S L Bham Associates
Unknown
Grant 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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