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Property profile & analytics
OFF-MARKET
Estimated value
$8,685,000
Grocery and convenience stores
Birmingham, AL 35243
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US03-2852387
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1997
Total area
59,437 SF
Lot
27.17 ac (1,183,438 SF)
APN
28-00-22-4-002-002.001
UPID
US03-2852387
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.94M
Comparable Approach
Comparable
$11.25M
Blend (final)
Blend
$8.69M
Owner & transaction history
Bayer Dev Co LLC · 6 yrs held
Bayer Dev Co LLC
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$12.0M
+64.9%
Medical building
$10.6M
+45.5%
Commercial (general)
$10.4M
+43.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,680,000
6.5%
$8,935,000
7%
$8,300,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,270,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,985,000
Change: +65% · Conversion: Difficult
MEDICAL BUILDING
$10,580,000
Change: +46% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,420,000
Change: +43% · Conversion: Easy
OFFICE BUILDING
$9,940,000
Change: +37% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,570,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$8.69M
Range $7.82M – $9.55M · ±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
$146 / 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
$367,078
Tax year 2022
Assessed value
$6,043,700
Assessed 2023
Previous assessed
$5,063,140
+19.4% YoY
Effective rate
6.07%
On assessed value
Assessed land
$1,295,860
Assessed improvement
$4,747,840
Land market value
$6,479,300
Improvement market value
$23,739,200
Total market value
$30,218,500
Applied tax rate
30.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
59,437 SF
Lot
27.17 ac (1,183,438 SF)
APN
28-00-22-4-002-002.001
UPID
US03-2852387
Jurisdiction
JEFFERSON
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
$7.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.0M
MEDICAL BUILDING
Est. value
$10.6M
COMMERCIAL (GENERAL)
Est. value
$10.4M
OFFICE BUILDING
Est. value
$9.9M
AUTO REPAIR, GARAGE
Est. value
$9.6M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
27.17 ac
Current owner
From public records · entity-resolved
Bayer Dev Co LLC
Entity
Mailing address
2222 ARLINGTON AVE S, BIRMINGHAM, AL 35205-4004
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Aug 14, 2019
—
Bayer Dev Co LLC
—
Loan Modification
related
$45,000,000 · Iberiabank
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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