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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Warehouses
501 Perry St Montgomery, AL 36104-2648
Entity Owned
5-yr Hold
Free & Clear
Property ID
US03-0203398
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1945
Total area
8,673 SF
Lot
0.12 ac (5,190 SF)
Zoning code
T4-0
APN
10-03-07-2-203-007.000
UPID
US03-0203398
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
$885k
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$885k
Owner & transaction history
Equal Justice Initiative INC · 5 yrs held
Equal Justice Initiative INC
since 2020
Last sale
$875,000
3 recorded transactions
Zoning & alternative use
T4-0 · Montgomery, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Medical building
$1.2M
+251.7%
Neighborhood: shopping center
$670,000
+99.2%
Commercial (general)
$665,000
+97.2%
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 Montgomery submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montgomery 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
$895,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
$1,240,000
6.5%
$1,145,000
7%
$1,065,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,185,000
Change: +252% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$670,000
Change: +99% · Conversion: Moderate
COMMERCIAL (GENERAL)
$665,000
Change: +97% · Conversion: Difficult
Blend value · Realmo final
$885k
Range $797k – $974k · ±10% · vs last sale $875k (Dec 31 2020)
Last sale anchor
$875k
Dec 31 2020
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
$102 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$4,927
Tax year 2024
Assessed value
$101,580
Assessed 2024
Previous assessed
$101,580
+0.0% YoY
Effective rate
4.85%
On assessed value
Assessed land
$10,380
Assessed improvement
$91,200
Land market value
$51,900
Improvement market value
$456,000
Total market value
$507,900
Applied tax rate
2.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1945
Heating
FORCED AIR
Cooling
YES
Stories
4
Units
80
Bathrooms
1
Total area
8,673 SF
Lot
0.12 ac (5,190 SF)
Zoning code
T4-0
APN
10-03-07-2-203-007.000
UPID
US03-0203398
Jurisdiction
MONTGOMERY
Zoning & alternative use
T4-0 · Montgomery, ALZoning T4-0 · permitted uses
T4-0 · Montgomery, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$665,000
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1945
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
80
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Equal Justice Initiative INC
Entity
Free & Clear · 5 yrs held
Mailing address
122 COMMERCE ST, MONTGOMERY, AL 36104-2538
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Dec 31, 2020
$875,000
Equal Justice Initiative INC
Westwood Properties Group LLC
Grant Deed
—
Oct 17, 2012
—
Sterling Bk
Bates,robert
Quit Claim Deed
related
—
Jan 6, 2004
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
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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