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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Drive through restaurants
737 29th S St Birmingham, AL 35233-2809
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US03-0378971
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1983
Total area
5,176 SF
Lot
0.48 ac (20,900 SF)
Zoning code
B2
APN
23-00-31-4-004-010.000
UPID
US03-0378971
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
-
Purple Onion Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.01M
Owner & transaction history
Purple Onion Lakeview District LLC · 1 yrs held
Purple Onion Lakeview District LLC
since 2024
Last sale
$1.0M
1 recorded transaction
Zoning & alternative use
B2 · Birmingham, 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 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
$1,010,000
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,415,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,400,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10% · vs last sale $1.01M (Jul 18 2024)
Last sale anchor
$1.01M
Jul 18 2024
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
$195 / 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
$15,760
Tax year 2022
Assessed value
$235,300
Assessed 2023
Previous assessed
$217,380
+8.2% YoY
Effective rate
6.70%
On assessed value
Assessed land
$133,760
Assessed improvement
$101,540
Land market value
$668,800
Improvement market value
$507,700
Total market value
$1,176,500
Applied tax rate
31.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1983
Heating
FORCED AIR
Cooling
YES
Stories
1
Bathrooms
1
Total area
5,176 SF
Lot
0.48 ac (20,900 SF)
Zoning code
B2
APN
23-00-31-4-004-010.000
UPID
US03-0378971
Jurisdiction
JEFFERSON
Zoning & alternative use
B2 · Birmingham, AL
Zoning B2 · permitted uses
B2 · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RESTAURANT Current
NEIGHBORHOOD: SHOPPING CENTER
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
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Purple Onion Lakeview District LLC
Entity
Free & Clear · 1 yrs held
Mailing address
112 CHESTNUT DR S, ALABASTER, AL 35007-8530
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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 18, 2024
$1,010,000
Purple Onion Lakeview District LLC
Charles D Middleton
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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