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Property profile & analytics
OFF-MARKET
Estimated value
$6,540,000
Retail space
5401 Hwy 280 Hoover, AL 35242-6510
Entity Owned
3-yr Hold
Free & Clear
Property ID
US03-1598315
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Construction
WOOD
Total area
30,928 SF
Lot
2.01 ac (87,599 SF)
APN
39320001007008
UPID
US03-1598315
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
$4.65M
Comparable Approach
Comparable
$5.85M
Blend (final)
Blend
$6.54M
Owner & transaction history
Spirit Master Funding X LLC · 3 yrs held
Spirit Master Funding X LLC
since 2022
Last sale
$7.2M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.5M
+123.6%
Neighborhood: shopping center
$8.4M
+121.1%
Apartment house (5+ units)
$6.2M
+64.9%
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 Hoover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hoover 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
$7,740,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,040,000
6.5%
$4,650,000
7%
$4,320,000
Alternative Use
Use
Estimation
RESTAURANT
$8,455,000
Change: +124% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,360,000
Change: +121% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$6,235,000
Change: +65% · Conversion: Difficult
MEDICAL BUILDING
$5,505,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$5,020,000
Change: +33% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,980,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,160,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$6.54M
Range $5.89M – $7.19M · ±10% · vs last sale $7.23M (Jul 26 2022)
Last sale anchor
$7.23M
Jul 26 2022
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
$211 / 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
$60,714
Tax year 2023
Assessed value
$907,940
Assessed 2023
Previous assessed
$907,940
+0.0% YoY
Effective rate
6.69%
On assessed value
Land market value
$1,867,700
Improvement market value
$2,671,940
Total market value
$4,539,640
Applied tax rate
13.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Construction
WOOD
Heating
YES
Stories
1
Rooms
4
Bathrooms
1
Total area
30,928 SF
Lot
2.01 ac (87,599 SF)
APN
39320001007008
UPID
US03-1598315
Jurisdiction
SHELBY
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
RESTAURANT
Est. value
$8.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$5.5M
OFFICE BUILDING
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.2M
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2005
Construction
WOOD
Heating
YES
Stories
1
Rooms
4
Bathrooms
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Spirit Master Funding X LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1 LAZBOY DR, MONROE, MI 48162-5138
Ownership since
2022
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
Jul 26, 2022
$7,234,435
Spirit Master Funding X LLC
William Morris Realty Greystone LLC
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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