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Property profile & analytics
FOR LEASE
Office Spaces
500 Cahaba Park Cir Birmingham, AL 35242
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US03-0609395
For Lease
1 / 9
$4,000,000
500 Cahaba Park Cir, Birmingham, AL 35242
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Construction
STEEL FRAME
Total area
17,551 SF
Lot
0.56 ac (24,228 SF)
Zoning code
O&I
APN
28-00-25-3-000-002.009
UPID
US03-0609395
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
-
American Health Research Institute Research Institute
-
Dr. Justyn Millar Physician
-
Megan Cotti-Rausch Pediatrician Medical Clinic
-
Dr. Kirit F. Patel, MD Physician
-
Taylor Reblin Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.00M
CAP Approach
CAP
$3.14M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.00M
Owner & transaction history
Cahaba Park Partners LLC · 1 yrs held
Cahaba Park Partners LLC
since 2024
Last sale
$4.0M
6 recorded transactions
Zoning & alternative use
O&I · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+103.4%
Neighborhood: shopping center
$4.7M
+101.1%
Apartment house (5+ units)
$3.5M
+50.0%
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
$4,000,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
$3,395,000
6.5%
$3,135,000
7%
$2,910,000
Alternative Use
Use
Estimation
RESTAURANT
$4,800,000
Change: +103% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,745,000
Change: +101% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,540,000
Change: +50% · Conversion: Moderate
MEDICAL BUILDING
$3,125,000
Change: +32% · Conversion: Easy
OFFICE BUILDING
$2,850,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,825,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $4.00M (Sep 17 2024)
Last sale anchor
$4.00M
Sep 17 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
$228 / 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
$24,235
Tax year 2022
Assessed value
$489,160
Assessed 2023
Previous assessed
$489,160
+0.0% YoY
Effective rate
4.95%
On assessed value
Assessed land
$24,220
Assessed improvement
$464,940
Land market value
$121,100
Improvement market value
$2,324,700
Total market value
$2,445,800
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
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
1
Total area
17,551 SF
Lot
0.56 ac (24,228 SF)
Zoning code
O&I
APN
28-00-25-3-000-002.009
UPID
US03-0609395
Jurisdiction
JEFFERSON
Zoning & alternative use
O&I · Birmingham, AL
Zoning O&I · permitted uses
O&I · 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
RESTAURANT
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RESTAURANT
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
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Cahaba Park Partners LLC
Entity
Mailing address
500 CAHABA PARK CIR, BIRMINGHAM, AL 35242-5087
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2024
$4,000,000
Cahaba Park Partners LLC
Innovative Group LLC
Warranty Deed
$2,900,000 · Listerhill Credit Union
May 1, 2020
—
Innovative Grp LLC
—
Deed
related
$500,000 · Renasant Bank
Aug 9, 2019
—
Innovative Grp LLC
—
Deed
related
$1,100,000 · Renasant Bank
May 12, 1999
$130,000
Innovative Group LLC
Eddleman,bill D
Grant Deed
—
—
—
Innovative Group LLC
—
Deed Of Trust
related
$582,000 · Wells Fargo Bk
—
—
Innovative Group LLC
—
Deed Of Trust
related
$500,000 · Wells Fargo Bk Nw NA
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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