Office/Warehouse Flex Space
For Sale
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4285 3rd Ave S, Birmingham, AL
7,400 SF office/warehouse with flex and warehouse space.
Property Size7,400 SF
Lot Size0.32 Acres
Price / SF$104.73
Days on Market495
Property Features for 4285 3rd Ave S
General Information
Standard status
Active
Size
7,400 SF
Lot size
0.32 Acres
Property subtype
OFFICE
Listing Agency:
Longleaf Realty Partners, LLC
(205) 879-3733
Listed By:
Greg wallace
(251) 222-5650
Source:
Moodyscre
Added: May 8, 2025
Changed: Sep 13
Last Checked: Sep 13 at 9:32AM
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 Longleaf Realty Partners, LLC
Investment Insights
Based on property information with market context.
This property is an office/warehouse totaling 7,400 square feet, situated on a 0.32-acre parcel. It features 5,000 square feet of flex space with ceiling heights between 12 and 14 feet, and 2,400 square feet of warehouse space with ceiling heights between 20 and 24 feet, built in 2018. The property includes four 12' x 18' roll-up doors and two 10' x 10' roll-up doors. The zoning is B-2.
Key Highlights
- 7,400 SF Office/Warehouse Flex Space
- 5,000 SF Flex Space with 12'-14' Ceiling Height
- 2,400 SF Warehouse Space with 20'-24' Ceiling Height (Built in 2018)
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
$41,303
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
5.33%
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%
$826,060
$826.1K
Cap Rate 7%
$590,043
$590.0K
Cap Rate 9%
$458,922
$458.9K
Market Conditions
NOI Build-Up for 7,400 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
$53.3K $7.20/SF
− Vacancy
−$4.7K −$0.63/SF
EGI
$48.6K $6.57/SF
− OpEx
−$7.3K −$0.98/SF
NOI
$41.3K $5.58/SF
Area
Birmingham, AL
Vacancy
8.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$826,060
Cap Rate 7%
$590,043
Cap Rate 9%
$458,922
Alternative Uses
Best Use
Flex RnD
$1.03M
$899.0K – $1.20M
NOI $71,919 @ 7.0% cap · market cap 9.28%
Second Best
Warehouse
$590.0K
$516.3K – $688.4K
NOI $41,303 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,585 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Birmingham, AL
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - 7,400 SF office/warehouse with flex and warehouse space.
Where is this warehouse located?
The property is located at 4285 3rd Ave S Birmingham, AL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 7,400 SF Office/Warehouse Flex Space; 5,000 SF Flex Space with 12'-14' Ceiling Height; 2,400 SF Warehouse Space with **20'-24' Ceiling Height (Built in 2018)**
