Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Retail space
909 Us Hwy 31 Bay Minette, AL 36507-7270
Entity Owned
Absentee Owner
Property ID
US03-2961545
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2018
Total area
9,024 SF
Lot
1.5 ac (65,340 SF)
APN
23-02-10-2-000-050
UPID
US03-2961545
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
$1.15M
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.16M
Owner & transaction history
Spoonbill Property Management LLC
Spoonbill Property Management LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+16.6%
Office building
$1.6M
+8.3%
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 Bay Minette submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bay Minette 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
$1,185,000
ML approach
$1,150,000
CAP Approach
CAP Return
Estimation
6%
$1,620,000
6.5%
$1,495,000
7%
$1,385,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,515,000
Current use
MEDICAL BUILDING
$1,765,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$1,640,000
Change: +8% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,485,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10%
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
$128 / 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
$11,277
Tax year 2023
Assessed value
$265,340
Assessed 2023
Previous assessed
$265,340
+0.0% YoY
Effective rate
4.25%
On assessed value
Assessed improvement
$265,340
Improvement market value
$446,400
Total market value
$446,400
Applied tax rate
3.0000
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
2018
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Bathrooms
1
Total area
9,024 SF
Lot
1.5 ac (65,340 SF)
APN
23-02-10-2-000-050
UPID
US03-2961545
Jurisdiction
BALDWIN
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
RETAIL STORES Current
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
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
2018
Heating
PACKAGE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Spoonbill Property Management LLC
Entity
Mailing address
5055 SWEETWATER RD, BONITA, CA 91902-1704
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2025
—
Spoonbill Property Management LLC
The Boogaard Family Trust
Deed
$1,020,240 · First Southern State Bank
Mar 5, 2025
—
Bruce M Boogaard
Bruce M Boogaard
Quitclaim Deed
related
—
Mar 23, 2018
—
Broadway Group LLC
Bay Minette Land Co
Warranty Deed
related
$1,165,793 · Nb Commerce
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?”
You own 909 Us Hwy 31?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
