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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Office buildings
3809 Sullivan St Madison, AL 35758-2372
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US03-0387654
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,534 SF
Lot
1.61 ac (70,219 SF)
APN
16-05-21-0-000-032.000
UPID
US03-0387654
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
-
Madison Medical Associates Physician
-
Alan Vaughn PC Tax Preparation
-
Gracefully Latched: Certified Breastfeeding Counselor Physician
-
Southern Scape, LLC Landscaping General Contractor
-
Knowledge Vortex Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.00M
CAP Approach
CAP
$2.63M
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$3.00M
Owner & transaction history
Murray Real Estate LLC · 2 yrs held
Murray Real Estate LLC
since 2024
Last sale
$3.0M
5 recorded transactions
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$3,000,000
ML approach
$3,000,000
CAP Approach
CAP Return
Estimation
6%
$2,845,000
6.5%
$2,630,000
7%
$2,440,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,800,000
Current use
COMMERCIAL (GENERAL)
$2,695,000
Change: -4% · Conversion: Easy
MEDICAL BUILDING
$2,605,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10% · vs last sale $3.00M (May 7 2024)
Last sale anchor
$3.00M
May 7 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
$239 / 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
$24,247
Tax year 2023
Assessed value
$346,040
Assessed 2023
Previous assessed
$346,040
+0.0% YoY
Effective rate
7.01%
On assessed value
Assessed land
$63,220
Assessed improvement
$282,820
Land market value
$316,100
Improvement market value
$1,414,100
Total market value
$1,730,200
Applied tax rate
5.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Bathrooms
1
Total area
12,534 SF
Lot
1.61 ac (70,219 SF)
APN
16-05-21-0-000-032.000
UPID
US03-0387654
Jurisdiction
MADISON
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
OFFICE BUILDING Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Murray Real Estate LLC
Entity
Mailing address
121 FOXHOUND DR, MADISON, AL 35758-6881
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2024
$3,000,000
Murray Real Estate LLC
Sullivan Square LLC
Warranty Deed
$2,188,750 · Southstate Bank National Associatio
Jan 7, 2019
—
Sullivan Square LLC
—
Deed
related
—
Jul 13, 2012
—
Griffin Properties LLC
Sullivan Square LLC
Warranty Deed
$650,000 · Sullivan Square LLC
Mar 19, 2008
—
Sullivan Square LLC
—
Deed Of Trust
related
$2,475,000 · Bryant Bank
—
—
Sullivan Square LLC
—
Loan Modification
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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