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Property profile & analytics
OFF-MARKET
Estimated value
$8,565,000
Medical Office Space
3620 Gulf Shrs Pkwy Gulf Shores, AL 36542-2847
Entity Owned
8-yr Hold
Free & Clear
Property ID
US03-0773676
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Total area
44,867 SF
Lot
6.4 ac (278,784 SF)
APN
66-02-04-2-001-002.055
UPID
US03-0773676
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
$8.26M
Comparable Approach
Comparable
$11.79M
Blend (final)
Blend
$8.57M
Owner & transaction history
City Of Gulf Shores Alabama · 8 yrs held
City Of Gulf Shores Alabama
since 2018
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$13.8M
+57.3%
Restaurant
$13.7M
+56.0%
Office building
$8.8M
+0.7%
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 Gulf Shores submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gulf Shores 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%
$8,945,000
6.5%
$8,255,000
7%
$7,665,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,770,000
Current use
APARTMENT HOUSE (5+ UNITS)
$13,795,000
Change: +57% · Conversion: Moderate
RESTAURANT
$13,685,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$8,835,000
Change: +1% · Conversion: Easy
RETAIL STORES
$7,525,000
Change: -14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,385,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$8.57M
Range $7.71M – $9.42M · ±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
$191 / 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
Assessed value
$2,022,200
Assessed 2023
Previous assessed
$2,022,200
+0.0% YoY
Assessed land
$457,600
Assessed improvement
$1,564,600
Land market value
$2,288,000
Improvement market value
$7,823,000
Total market value
$10,111,000
Applied tax rate
8.0000
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
2008
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
3
Total area
44,867 SF
Lot
6.4 ac (278,784 SF)
APN
66-02-04-2-001-002.055
UPID
US03-0773676
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
$8.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.8M
RESTAURANT
Est. value
$13.7M
OFFICE BUILDING
Est. value
$8.8M
RETAIL STORES
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$7.4M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
3
Lot
6.4 ac
Current owner
From public records · entity-resolved
City Of Gulf Shores Alabama
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 299, GULF SHORES, AL 36547-0299
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2018
—
City Of Gulf Shores Alabama
Cpmob Holdings LLC
Warranty Deed
related
—
Oct 12, 2017
—
Cpmob Holdings LLC
Medical Clinic Board Of City/gulf
Warranty Deed
—
May 15, 2007
—
Medical Clinic Board Of City & Gulf
Colonial Properties Svcs INC
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.
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