Renovated Flex Warehouse
1218 2nd Ave N Birmingham, AL 35203
1218 2nd Ave N, Birmingham, AL, 35203
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For Sale
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Two renovated, separately metered buildings totaling 24,346 SF, each with heated and cooled office areas and dedicated parking.
Property Size24,346 SF
Price / SF$97.96
Days on Market104
Property Features for 1218 2nd Ave N
General Information
- Standard status
- Active
- Size
- 24,346 SF
- Property subtype
- Industrial, Office, Retail
Building Details
- Year Built
- 1935
Listing agency
Engel Realty company, LLC
Listed by
Daniel Anderson · License #AL 000029655
Source
Crexi
Added: Apr 9 Updated: Jul 21 at 7:28AM Checked: Jul 21 at 7:28AM
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 Engel Realty company, LLC
Investment Insights
Based on property information with market context.
The property includes two renovated buildings totaling 24,346 square feet on two parcels. Building A offers 12,492 SF with 10,852 SF of warehouse space and 1,640 SF of office space, and Building B totals 11,854 SF with 9,654 SF of warehouse/showroom space and 2,200 SF of office space. Both buildings have heated and cooled office areas and are separately metered. Building A is sprinkled.
The site is accessed through an electric gate entrance and includes 17 dedicated parking spaces, with additional street parking available. Operational features include one dock high door with an opportunity to convert another roll-up to dock high, as well as two drive-in doors sized at 10' x 12'. Office amenities include shower in the Building A restroom area, a large break room and large conference room, and washer/dryer hookup and a work area in the Building B main office area. Both buildings also include separate entrances, offices, and ADA restrooms.
The site is accessed through an electric gate entrance and includes 17 dedicated parking spaces, with additional street parking available. Operational features include one dock high door with an opportunity to convert another roll-up to dock high, as well as two drive-in doors sized at 10' x 12'. Office amenities include shower in the Building A restroom area, a large break room and large conference room, and washer/dryer hookup and a work area in the Building B main office area. Both buildings also include separate entrances, offices, and ADA restrooms.
Key Highlights
- Two‑building industrial property totaling 24,346 SF on 0.80 acres (2 parcels) in Birmingham’s Switch District
- Renovated in 2021 with both buildings separately metered and featuring heated/cooled office areas
- Building A: 12,492 SF with 10,852 SF warehouse and 1,640 SF office; sprinkled building
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $175.3k | $7.20 |
| − Vacancy | −$15.4k | −$0.63 |
| EGI | $159.9k | $6.57 |
| − OpEx | −$24.0k | −$0.98 |
| NOI | $135.9k | $5.58 |
24,346 SF · lease $7.20/SF/yr · vacancy 8.80% · expense 15.00%
Alternative Uses
Best Use
Office B
$4.18M
$3.66M – $4.87M
NOI $292,408 @ 7.0% cap · market cap 12.26%
Second Best
Flex RnD
$3.38M
$2.96M – $3.94M
NOI $236,614 @ 7.0% cap · market cap 9.92%
Theoretical Best
Office A
$5.71M
$5.00M – $6.67M
NOI $400,015 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Spiffy Home Staging ...
Interior Design
Similar For Sale Nearby
Similar Off Market Nearby
- Treated By Tia — 1629 Lomb Ave, Birmingham, AL 35208
FAQs
What type of property is this?
Flex space - Two renovated, separately metered buildings totaling 24,346 SF, each with heated and cooled office areas and dedicated parking.
Where is this flex space located?
The property is located at 1218 2nd Ave N Birmingham, AL.
What is the asking price?
The asking price for this property is $2,385,000.
What are key features of this property?
This property features: Two‑building industrial property totaling 24,346 SF on 0.80 acres (2 parcels) in Birmingham’s Switch District; Renovated in 2021 with both buildings separately metered and featuring heated/cooled office areas; Building A: 12,492 SF with 10,852 SF warehouse and 1,640 SF office; sprinkled building
