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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Manufacturing properties
608 Railroad Ave Birmingham, AL 35217-2934
Entity Owned
4-yr Hold
Free & Clear
Property ID
US03-0036914
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1983
Construction
STEEL FRAME
Total area
5,000 SF
Lot
0.16 ac (6,915 SF)
Zoning code
M1
APN
23-00-07-1-024-006.000
UPID
US03-0036914
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
-
Gilco Machine & Welding Inc Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$905k
Owner & transaction history
Advanced Rotors INC · 4 yrs held
Advanced Rotors INC
since 2022
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
M1 · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the M1 Light Manufacturing District is provide for contractor or construction equipment dealer yard, grain and feed storage, heating fuel or building material storage or wholesaling, manufacturing, fabricating, processing, or assembling uses which do not create any objectionable noise, vibration, smoke, dust, odor, heat or glare, such as boats…
Zone name
Light Manufacturing
General category
INDUSTRIAL
Zone area
3,507.24 ac
Source
Realmo
Top alternative use upside
Restaurant
$1.4M
+544.6%
Neighborhood: shopping center
$1.4M
+537.3%
Apartment house (5+ units)
$1.0M
+375.3%
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
$790,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,365,000
Change: +545% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,350,000
Change: +537% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,010,000
Change: +375% · Conversion: Difficult
MEDICAL BUILDING
$890,000
Change: +320% · Conversion: Difficult
OFFICE BUILDING
$835,000
Change: +294% · Conversion: Difficult
AUTO REPAIR, GARAGE
$805,000
Change: +280% · Conversion: Easy
COMMERCIAL (GENERAL)
$675,000
Change: +219% · Conversion: Difficult
Blend value · Realmo final
$905k
Range $815k – $996k · ±10% · vs last sale $1.00M (Mar 30 2022)
Last sale anchor
$1.00M
Mar 30 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
$181 / 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
$2,127
Tax year 2022
Assessed value
$38,020
Assessed 2023
Previous assessed
$37,720
+0.8% YoY
Effective rate
5.59%
On assessed value
Assessed land
$1,240
Assessed improvement
$36,780
Land market value
$6,200
Improvement market value
$183,900
Total market value
$190,100
Applied tax rate
18.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1983
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Total area
5,000 SF
Lot
0.16 ac (6,915 SF)
Zoning code
M1
APN
23-00-07-1-024-006.000
UPID
US03-0036914
Jurisdiction
JEFFERSON
Zoning & alternative use
M1 · Birmingham, ALZoning M1 · permitted uses
M1 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the M1 Light Manufacturing District is provide for contractor or construction equipment dealer yard, grain and feed storage, heating fuel or building material storage or wholesaling, manufacturing, fabricating, processing, or assembling uses which do not create any objectionable noise, vibration, smoke, dust, odor, heat or glare, such as boats (less than five tons), bolts, nuts, screws, washers, rivets, nails, brads, tacks, spikes, staples and similar items
Zone name
Light Manufacturing
General category
INDUSTRIAL
Zone area
3,507.24 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$890,000
OFFICE BUILDING
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$675,000
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
1983
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Advanced Rotors INC
Entity
Free & Clear · 4 yrs held
Mailing address
273 COUNTY RD 520, HANCEVILLE, AL 35077-4631
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2022
$1,000,000
Advanced Rotors INC
Elizabeth W Gillespie
Warranty Deed
—
Jun 30, 2014
$945,000
Elizabeth W Gillespie
Joseph F Gillespie Trust
Grant Deed
related
—
Jul 18, 2013
—
Joseph,gillespie Shelter Trust
Gillespie Joseph F
Quit Claim Deed
related
—
Feb 22, 2007
$500
Gillespie,joseph F
Gillespie,elizabeth W
Warranty 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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