Office Condo Near Highway
1023 Edenton St, Birmingham, AL 35242
For Sale
Contact for pricing
Office condominium in Inverness, accessible to Highway 280.
Property Size2,975 SF
Price / SF$154.29
Days on Market260
Property Features for 1023 Edenton St
General Information
Standard status
Size
Class
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Red Rock Realty Group
Listed By:
Billy Hiden, CCIM · License AL #000107291
(205) 918-0335
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 Red Rock Realty Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office condominium, totaling 2975 square feet, is located off Highway 280 in Inverness, with accessibility via Cahaba Beach Road. Its location provides access to I-459 and Highway 280. The Summit, offering shopping and dining options, is a short drive away.
Key Highlights
- Convenient location off Highway 280 in Inverness.
- Easy access to I‑459 and Highway 280.
- Proximity to the Summit shopping and dining destination.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,731
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,620
$714.6K
Cap Rate 7%
$510,443
$510.4K
Cap Rate 9%
$397,011
$397.0K
Market Conditions
NOI Build-Up for 2,975 SF
Gross rent
$60.7K $20.40/SF
− Vacancy
−$13.0K −$4.39/SF
EGI
$47.6K $16.01/SF
− OpEx
−$11.9K −$4.00/SF
NOI
$35.7K $12.01/SF
Area
Birmingham, AL
Vacancy
21.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,620
Cap Rate 7%
$510,443
Cap Rate 9%
$397,011
Alternative Uses
Best Use
Office B
$510.4K
$446.6K – $595.5K
NOI $35,731 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.3K
$611.0K – $814.7K
NOI $48,880 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 35242, AL
57,008
Population
25,247
Households
2.3
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
52.4 sq mi
ZIP Area
1,088
Density / Sq Mi
$116,053
Median Household Income
$59,731
Median Earnings
$1,430
Median Rent
$452,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Birmingham, AL
Properties on Market for Office Units in Birmingham
Vacancy Rate% for Office in Birmingham, AL
Frequently Asked Questions
What type of property is this?
Office unit - Office condominium in Inverness, accessible to Highway 280.
Where is this office unit located?
The property is located at 1023 Edenton St Birmingham, AL.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Convenient location off Highway 280 in Inverness.; Easy access to I‑459 and Highway 280.; Proximity to the Summit shopping and dining destination.
