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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Warehouses
5445 Business Park Way Theodore, AL 36582-1615
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US03-0562515
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
18,641 SF
Lot
1.33 ac (58,109 SF)
APN
33 08 27 4 000 001.039
UPID
US03-0562515
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
$1.32M
CAP Approach
CAP
$1.64M
Comparable Approach
Comparable
$921k
Blend (final)
Blend
$1.27M
Owner & transaction history
Farp Investments LLC · 3 yrs held
Farp Investments LLC
since 2022
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+76.5%
Commercial (general)
$1.7M
+45.4%
Industrial (general)
$1.3M
+18.2%
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 Theodore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Theodore 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
$1,235,000
ML approach
$1,320,000
CAP Approach
CAP Return
Estimation
6%
$1,770,000
6.5%
$1,635,000
7%
$1,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,135,000
Current use
OFFICE BUILDING
$2,000,000
Change: +76% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,650,000
Change: +45% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,340,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.25M (Aug 5 2022)
Last sale anchor
$1.25M
Aug 5 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
$68 / 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
$11,286
Tax year 2023
Assessed value
$173,160
Assessed 2023
Previous assessed
$173,160
+0.0% YoY
Effective rate
6.52%
On assessed value
Assessed land
$23,240
Assessed improvement
$149,920
Land market value
$116,200
Improvement market value
$749,600
Total market value
$865,800
Applied tax rate
10.0000
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
2000
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
18,641 SF
Lot
1.33 ac (58,109 SF)
APN
33 08 27 4 000 001.039
UPID
US03-0562515
Jurisdiction
MOBILE
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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2000
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.33 ac
Current owner
From public records · entity-resolved
Farp Investments LLC
Entity
Mailing address
PO BOX 7008, MOBILE, AL 36670-0008
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2025
—
Frp Investments LLC
—
Deed
related
$106,000 · First Horizon Bank
Aug 5, 2022
$1,250,000
Farp Investments LLC
Mobile South Development Co LLC
Warranty Deed
$937,500 · First Horizon Bank
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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