Freestanding Medical
1023 22nd Street South, Birmingham, AL 35205
For Sale
Contact for pricing
An intact clinical layout, on-site parking and separate building access support medical or professional occupancy.
Property Size2,691 SF
Price / SF$278.71
Days on Market27
Property Features for 1023 22nd Street South
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Property Use
Building Details
Year Built
Buildings
Building Size
Construction
Listing Agency:
Watts Realty Company
Listed By:
David Watts · License #AL 000092494
(205) 251-1267
Source:
Crexi
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 8 at 5:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Watts Realty Company
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Investment Insights
Based on property information with market context.
This 2,691-square-foot brick medical office was built in 2003 and retains its clinical configuration, including five exam rooms, a lab and a nurse station. Plumbing remains available in the former exam rooms. The floor plan also includes a waiting and check-in area, two corridors, a business office, transcription and file rooms, and a break room. A roof installed in 2023 and a new 5-ton HVAC unit are among the building’s updates.
The property is on Birmingham’s Southside, in the medical and professional district bordering the UAB campus and Five Points South. Downtown and Red Mountain are visible in either direction. The freestanding building has its own entrance, a 13-space parking lot and monument signage, with street visibility and access from 22nd Street South.
The property is on Birmingham’s Southside, in the medical and professional district bordering the UAB campus and Five Points South. Downtown and Red Mountain are visible in either direction. The freestanding building has its own entrance, a 13-space parking lot and monument signage, with street visibility and access from 22nd Street South.
Key Highlights
- 2,691‑square‑foot brick office building, constructed in 2003
- Existing medical layout includes five exam rooms, lab and nurse station
- Plumbing remains available in the former exam rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,100
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,000
$682.0K
Cap Rate 7%
$487,143
$487.1K
Cap Rate 9%
$378,889
$378.9K
Market Conditions
NOI Build-Up for 2,691 SF
Gross rent
$64.6K $24.00/SF
− Vacancy
−$7.8K −$2.88/SF
EGI
$56.8K $21.12/SF
− OpEx
−$22.7K −$8.45/SF
NOI
$34.1K $12.67/SF
Area
Birmingham, AL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,000
Cap Rate 7%
$487,143
Cap Rate 9%
$378,889
Alternative Uses
Best Use
Healthcare Medical
$487.1K
$426.3K – $568.3K
NOI $34,100 @ 7.0% cap · market cap 4.55%
Second Best
Office B
$461.7K
$404.0K – $538.7K
NOI $32,320 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$631.6K
$552.7K – $736.9K
NOI $44,214 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 35205, AL
20,137
Population
11,908
Households
1.7
Avg Household Size
30
Median Age
56%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
5,442
Density / Sq Mi
$49,194
Median Household Income
$35,230
Median Earnings
$1,005
Median Rent
$292,000
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Jefferson County, AL
Properties on Market for Medical Office Space in Jefferson County
Vacancy Rate% for Office in Birmingham, AL
Frequently Asked Questions
What type of property is this?
Medical Office Space - An intact clinical layout, on-site parking and separate building access support medical or professional occupancy.
Where is this medical office space located?
The property is located at 1023 22nd Street South Birmingham, AL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,691‑square‑foot brick office building, constructed in 2003; Existing medical layout includes five exam rooms, lab and nurse station; Plumbing remains available in the former exam rooms
