Building Details

Building Size 37,190 SF

Listed By: Sam Carroll, SIOR Show Phone

Source: Grahamcompany

Added: Nov 21, 2025 Changed: Oct 1 Last Checked: Oct 7 at 9:14AM

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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 Sam Carroll, SIOR

Investment Insights

Based on property information with market context.

This multi-tenant, two-story office building includes 8,490 square feet of conditioned warehouse space and is situated on a 3.74-acre site with upper and lower entrances. Located in the City of Hoover, off Riverchase Parkway, it offers convenient access to US Hwy. 31 and I-65. The second story is fully occupied with existing tenants, encompassing 9,676 square feet and generating an NOI of $93,500. Up to 24,566 square feet is available, including the warehouse space. Parking is available at a ratio of 4 spaces per 1,000 square feet, totaling 129 spaces. There is no occupational tax. The property presents a great opportunity for a medical user due to its close proximity to Riverwalk Village, the City of Hoover’s 90-acre, mixed-use walkable community focusing on health and wellness.

Key Highlights

• Existing tenants on the 2nd story (9,676 SF) generating an NOI of $93,500.
• Up to 24,566 SF available, including 8,490 SF of conditioned warehouse space.
• Located in the City of Hoover with easy access to US Hwy. 31 & I‑65.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$415,580

Cap Rate

8.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,311,600 $8.3M

Cap Rate 7%

$5,936,857 $5.9M

Cap Rate 9%

$4,617,556 $4.6M

Market Conditions

NOI Build-Up for 37,190 SF

Gross rent

$508.8K $13.68/SF

− Vacancy

−$19.8K −$0.53/SF

EGI

$488.9K $13.15/SF

− OpEx

−$73.3K −$1.97/SF

NOI

$415.6K $11.17/SF

Area

Jefferson County, AL

Vacancy

3.90%

Lease Rate

$13.68 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,311,600

Cap Rate 7%

$5,936,857

Cap Rate 9%

$4,617,556

Alternative Uses

Best Use

Office B

$9.36M

$8.19M – $10.92M (±1% cap)

NOI $655,382 @ 7.0% cap · market cap 13.80%

Second Best

Warehouse

$5.94M

$5.19M – $6.93M (±1% cap)

NOI $415,580 @ 7.0% cap · market cap 8.75%

Theoretical Best

Office A

$12.79M

$11.19M – $14.93M (±1% cap)

NOI $895,588 @ 7.0% cap · market cap 18.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Auto Repair Shop Electrical Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store Locksmith Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

534

Businesses Nearby

Explore this area Business Placement

Demographics for 35244, AL

37,448

Population

15,189

Households

2.5

Avg Household Size

39

Median Age

60%

College-Educated

97%

High-School Grad

23.9 sq mi

ZIP Area

1,567

Density / Sq Mi

$114,172

Median Household Income

$61,660

Median Earnings

$1,413

Median Rent

$390,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Two-story office building with warehouse in Hoover, Alabama.

Where is this office building located?

The property is located at 2111 Parkway Office Circle Hoover, AL.

What is the asking price?

The asking price for this property is $4,750,000.

What are key features of this property?

This property features: Existing tenants on the 2nd story (9,676 SF) generating an NOI of $93,500.; Up to **24,566 SF available**, including 8,490 SF of conditioned warehouse space.; Located in the City of Hoover with easy access to US Hwy. 31 & I‑65.