For Sale
$3,452,352
1 1St St, Birmingham, AL 35206
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Property Size52,352 SF
Price / SF$65.94
Days on Market355
Property Features for 1 1St St
General Information
Standard status
Active
Property type
Automotive properties, Gas stations, Retail properties & Spaces
Size
52,352 SF
Listing Agency:
(342) 342-3423
Listed By:
Hubert
(342) 342-3423
Added: Sep 9, 2025
Changed: Mar 16
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$240,635
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,812,700
$4.8M
Cap Rate 7%
$3,437,643
$3.4M
Cap Rate 9%
$2,673,722
$2.7M
Market Conditions
NOI Build-Up for 52,352 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$376.9K $7.20/SF
− Vacancy
−$33.2K −$0.63/SF
EGI
$343.8K $6.57/SF
− OpEx
−$103.1K −$1.97/SF
NOI
$240.6K $4.60/SF
Area
Birmingham, AL
Vacancy
8.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,812,700
Cap Rate 7%
$3,437,643
Cap Rate 9%
$2,673,722
Alternative Uses
Best Use
Specialty Retail
$9.29M
$8.13M – $10.84M
NOI $650,212 @ 7.0% cap · market cap 18.83%
Second Best
Retail
$7.31M
$6.40M – $8.53M
NOI $511,657 @ 7.0% cap · market cap 14.82%
Theoretical Best
Office A
$12.29M
$10.75M – $14.34M
NOI $860,164 @ 7.0% cap · market cap 24.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35206, AL
15,648
Population
7,967
Households
2
Avg Household Size
40
Median Age
19%
College-Educated
87%
High-School Grad
10.1 sq mi
ZIP Area
1,549
Density / Sq Mi
$39,051
Median Household Income
$28,665
Median Earnings
$990
Median Rent
$122,500
Median Home Value
Market
Vacancy Rate% for Retail in Birmingham, AL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Provide detailed description about your property. For security reasons, we reserve the right not to display external links to other websites. If you need to place such link or for any other assistance, please contact support@realmo.com.
Where is this automotive property located?
The property is located at 1 1St St Birmingham, AL.
What is the asking price?
The asking price for this property is $3,452,352.
