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Property profile & analytics
FOR LEASE
Office buildings
5500 Watermelon Rd Northport, AL 35473
Entity Owned
12-yr Hold
Free & Clear
Property ID
US03-0545281
For Lease
1 / 47
$4,500/Mo
5500 Watermelon Rd, Northport, AL 35473
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
WOOD
Total area
2,279 SF
Lot
0.85 ac (37,026 SF)
Zoning code
C-2
APN
20-07-35-4-001-020.001
UPID
US03-0545281
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tpi Real Estate LLC · 12 yrs held
Tpi Real Estate LLC
since 2013
2 recorded transactions
Zoning & alternative use
C-2 · Northport, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Northport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northport 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,592
Tax year 2023
Assessed value
$67,320
Assessed 2023
Previous assessed
$67,320
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$17,000
Assessed improvement
$50,320
Land market value
$85,000
Improvement market value
$251,600
Total market value
$336,600
Applied tax rate
5.0000
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2000
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
5
Bathrooms
1
Total area
2,279 SF
Lot
0.85 ac (37,026 SF)
Zoning code
C-2
APN
20-07-35-4-001-020.001
UPID
US03-0545281
Jurisdiction
TUSCALOOSA
Zoning & alternative use
C-2 · Northport, AL
Zoning C-2 · permitted uses
C-2 · Northport, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2000
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Tpi Real Estate LLC
Entity
Free & Clear · 12 yrs held
Mailing address
5500 WATERMELON RD, NORTHPORT, AL 35473-5177
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Nov 1, 2013
$176,893
Tpi Real Estate LLC
Phillip C Stearman
Warranty Deed
—
Sep 13, 2013
$500
Tpi Real Estate LLC
Phillip C Stearman
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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