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Property profile & analytics
OFF-MARKET
Estimated value
$6,000,000
Warehouses
492 Theta S Ave Birmingham, AL 35205
Entity Owned
2-yr Hold
Free & Clear
Property ID
US03-0422128
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1955
Total area
48,777 SF
Lot
2.83 ac (123,101 SF)
Zoning code
M1
APN
29-00-02-2-017-001.000
UPID
US03-0422128
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
$6.00M
CAP Approach
CAP
$4.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.00M
Owner & transaction history
2nds In Building Materials INC · 2 yrs held
2nds In Building Materials INC
since 2024
Last sale
$6.0M
1 recorded transaction
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the M1 Light Manufacturing District is provide for contractor or construction equipment dealer yard, grain and feed storage, heating fuel or building material storage or wholesaling, manufacturing, fabricating, processing, or assembling uses which do not create any objectionable noise, vibration, smoke, dust, odor, heat or glare, such as boats…
Zone name
Light Manufacturing
General category
INDUSTRIAL
Zone area
3,507.24 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$9.8M
+216.4%
Medical building
$8.7M
+179.3%
Office building
$8.2M
+162.4%
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
$6,000,000
ML approach
$6,000,000
CAP Approach
CAP Return
Estimation
6%
$4,535,000
6.5%
$4,190,000
7%
$3,890,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,835,000
Change: +216% · Conversion: Difficult
MEDICAL BUILDING
$8,680,000
Change: +179% · Conversion: Difficult
OFFICE BUILDING
$8,155,000
Change: +162% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,855,000
Change: +153% · Conversion: Easy
RETAIL STORES
$5,965,000
Change: +92% · Conversion: Moderate
Blend value · Realmo final
$6.00M
Range $5.40M – $6.60M · ±10% · vs last sale $6.00M (Mar 26 2024)
Last sale anchor
$6.00M
Mar 26 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
$123 / 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
$19,081
Tax year 2022
Assessed value
$262,400
Assessed 2023
Previous assessed
$262,400
+0.0% YoY
Effective rate
7.27%
On assessed value
Assessed land
$37,384
Assessed improvement
$225,016
Land market value
$246,200
Improvement market value
$1,481,900
Total market value
$1,728,100
Applied tax rate
34.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1955
Heating
SPACE
Stories
1
Total area
48,777 SF
Lot
2.83 ac (123,101 SF)
Zoning code
M1
APN
29-00-02-2-017-001.000
UPID
US03-0422128
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, ALZoning M1 · permitted uses
M1 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the M1 Light Manufacturing District is provide for contractor or construction equipment dealer yard, grain and feed storage, heating fuel or building material storage or wholesaling, manufacturing, fabricating, processing, or assembling uses which do not create any objectionable noise, vibration, smoke, dust, odor, heat or glare, such as boats (less than five tons), bolts, nuts, screws, washers, rivets, nails, brads, tacks, spikes, staples and similar items
Zone name
Light Manufacturing
General category
INDUSTRIAL
Zone area
3,507.24 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.8M
MEDICAL BUILDING
Est. value
$8.7M
OFFICE BUILDING
Est. value
$8.2M
AUTO REPAIR, GARAGE
Est. value
$7.9M
RETAIL STORES
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1955
Heating
SPACE
Stories
1
Lot
2.83 ac
Current owner
From public records · entity-resolved
2nds In Building Materials INC
Entity
Free & Clear · 2 yrs held
Mailing address
492 THETA AVE S, BIRMINGHAM, AL 35205
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2024
$6,000,000
2nds In Building Materials INC
Golden Flake Snack Foods 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.
Try Rey
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