Renovated Flex Warehouse
For Sale
Contact for pricing
1218 2nd Ave N, Birmingham, AL 35203
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 Market195
Property Features for 1218 2nd Ave N
General Information
Standard status
Active
Size
24,346 SF
Total Parking Spaces
17
Property subtype
Industrial, Office, Retail
Zoning
MUH( Mixed Use High)
Building Details
Year Built
1935
Year Renovated
2021
Buildings
2
Stories
1
Listing Agency:
Engel Realty company, LLC
Listed By:
Daniel Anderson · License #AL 000029655
Source:
Crexi
Added: Apr 9
Changed: Oct 11
Last Checked: Oct 19 at 4:39AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,886
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,717,720
$2.7M
Cap Rate 7%
$1,941,229
$1.9M
Cap Rate 9%
$1,509,844
$1.5M
Market Conditions
NOI Build-Up for 24,346 SF
Gross rent
$175.3K $7.20/SF
− Vacancy
−$15.4K −$0.63/SF
EGI
$159.9K $6.57/SF
− OpEx
−$24.0K −$0.98/SF
NOI
$135.9K $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 Rate 5%
$2,717,720
Cap Rate 7%
$1,941,229
Cap Rate 9%
$1,509,844
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 authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 35203, AL
3,595
Population
2,114
Households
1.7
Avg Household Size
37
Median Age
41%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
1,712
Density / Sq Mi
$46,829
Median Household Income
$51,183
Median Earnings
$954
Median Rent
$288,600
Median Home Value
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Market
Vacancy Rate% for Office in Birmingham, AL
Similar Off Market Nearby
- Treated By Tia — 1629 Lomb Ave, Birmingham, AL 35208
Frequently Asked Questions
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
