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    Property profile & analytics

    Alabaster City Hall And Police Departmen Dept Dept Alabaster, AL 35007

    • Office buildings
    • 5,780 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1003146
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for Alabaster City Hall And Police Departmen Dept Dept

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.13 lot acres
    Property size
    5,780 SF
    Property type
    Office buildings
    APN
    137354402008000
    APU
    137354402008000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $598,000
      Market price range: $599k - $1.27M
      AI Estimate
      $598,000
      Market price range: $599k - $1.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $850,000
      Current use
      COMMERCIAL (GENERAL)
      $730,000
      Change: -14% Conversion: Easy
      RETAIL STORES
      $720,000
      Change: -15% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Alabaster
    County
    Shelby
    State
    Alabama
    Longitude
    -86.8163
    Latitude
    33.2452
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $106,280
    -
    $57,750
    $473,650
    $531,400

    Comparable in this City

    • Value Estimation by Request
      3,976 SF

      128 1st S St

      OFFICE BUILDING • 3,976 SF
      128 1st S St, Alabaster, AL 35007-8921
      View Details
    • Value Estimation by Request
      240 SF

      258 Cox Ln

      OFFICE BUILDING • 240 SF
      258 Cox Ln, Alabaster, AL 35007-5240
      View Details
    • Value Estimation by Request
      2,888 SF

      Pumping Sta Between Winterhaven Dr

      OFFICE BUILDING • 2,888 SF
      Pumping Sta Between Winterhaven Dr, Alabaster, AL 35007
      View Details
    • Value Estimation
      $685,000
      3,832 SF

      180 Airpark Industrial Rd

      OFFICE BUILDING • 3,832 SF
      180 Airpark Industrial Rd, Alabaster, AL 35007-9597
      View Details
    • Value Estimation
      $640,000
      5,000 SF

      750 Hwy 31st S

      OFFICE BUILDING • 5,000 SF
      750 Hwy 31st S, Alabaster, AL 35007-4627
      View Details
    • Value Estimation
      $945,000
      4,288 SF

      Alabaster, AL 35007

      OFFICE BUILDING • 4,288 SF
      Alabaster, AL 35007
      View Details

    Similar Nearby for Sale

    • $2,200,000
      10,060 SF

      Alabaster Medical Office Building

      100% Occupied, High-Growth Location
      122 7Th Ave, Alabaster, AL 35007
      View Details
    • Contact for pricing
      0.89 Acres

      Alabaster Office Space Near I-65

      Prime Office Space, Convenient Location, I-65 Access
      101 Aviators View Dr, Alabaster, AL 35007
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    • $2,200,000
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      Alabaster Restaurant & Office Space

      Prime Alabaster location, high-traffic area.
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    • Contact for pricing
      0.89 Acres

      Prime Office Space Near I65

      Well-maintained office space with I-65 access and conference room.
      101 Aviators View Dr, Alabaster, AL 35007
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    • $308,000
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      Highway 119 Commercial Opportunity

      Commercial property on Highway 119, Alabaster. High visibility and traffic.
      10599 Highway 119, Alabaster, AL 35007
      View Details
    • Contact for pricing
      0.89 Acres

      Alabaster Office Space Near I-65

      Prime Office Space, Convenient Location, I-65 Access
      101 Aviators View Dr, Alabaster, AL 35007
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      19,854 SF

      Hillside Medical Plaza: Alabaster, AL

      A-Class Medical Office Space Available
      224 1St St, Alabaster, AL 35007
      View Details
    • Contact for pricing
      16,800 SF

      Alabaster Office Space Available

      16,800 SF Office Building, 2,000 SF Vacant
      1614 Kent Dairy Rd, Alabaster, AL 35007
      View Details
    • $21 SF/Yr
      10,706 SF

      Prime Medical Office Space in Alabaster

      10,706 SF Medical Building, Suites Available
      122 7Th Ave, Alabaster, AL 35007
      View Details
    • $24 SF/Yr

      Medical Office Space Available

      Medical office space near Shelby Baptist Medical Center, move-in ready.
      1022 1St St North, Alabaster, AL 35007
      View Details
    • $24 SF/Yr
      2,658 SF

      Alabaster Medical Office Space For Lease

      Prime Medical Office, Abundant Parking
      1022 1St St, Alabaster, AL 35007
      View Details
    • $9 SF/Yr
      7,700 SF

      Renovated Retail/Industrial Flex Space

      Newly renovated retail/industrial flex space with high ceilings.
      349-351 1St St SW, Alabaster, AL 35007
      View Details
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    Alabaster, AL 35007
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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