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    Retail Plaza in Entertainment District Title is generated by Realmo AI

    1219 CARRAWAY BOULEVARD, Birmingham, AL 35234

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    For Sale
    $1,000,000

    Retail - BIRMINGHAM, AL

    Type:Retail
    Lot size:
    0.34 Acres
    Added:
    Jan 11, 2024
    Days on Market:
    872
    Last Refresh:
    Jun 1 at 7:06 pm

    Property Features for 1219 CARRAWAY BOULEVARD

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Commercial
    Standard status
    Active
    Lot size
    0.34 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2020
    Floors in Building
    1
    Flooring type
    Concrete, Tile, Vinyl
    Building materials
    Brick, Concrete, Frame, Glass
    Architectural style
    Other

    We can help!

    Listing Contact
    Randal Chatman
    Randal Chatman

    Listing agent Randal Chatman

    Listing office Keller Williams Realty Hoover 1021 Brocks Gap Parkway Suite, Birmingham, AL

    Listing date Jan 11, 2024

    MLS# 21374200 Listing URL

    Copyright © 2026 Greater Alabama MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in Birmingham's entertainment district on Carraway Blvd.
    • Walking distance to the new 'The Star at Uptown' mixed‑use development, including an amphitheater and 256 workforce housing units.
    • Retail plaza with 4 spaces, 2 of which are currently occupied, offering immediate income potential.
    • Opportunity to build out or lease the 2 vacant spaces.
    • Walking distance to Top Golf, Uptown Entertainment District, Protective Stadium, and the BJCC.
    • Includes 2 additional lots totaling 4200 sqft bordering the retail plaza (1223 and 1227).

    Overview

    This retail plaza, located in the heart of Birmingham's entertainment district, offers a unique opportunity with four spaces, two of which are currently occupied. The remaining two spaces are available for build-out or tenant acquisition with a build-out plan. The property is situated on Carraway Boulevard, within walking distance of the new The Star at Uptown mixed-use development project, which includes a new amphitheater in collaboration with Live Nation and 256 workforce housing units. This location provides residents with convenient access to shopping, dining, and entertainment options. The property is also within walking distance of Top Golf, the Uptown Entertainment District, Protective Stadium, and the BJCC. The property includes two additional lots totaling approximately 4200 square feet, bordering the retail plaza. The lot size is 0.34 acres. The zoning is commercial, allowing for a variety of business uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Law Firm Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.806396
    Latitude
    33.532141

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    FAQs

    What type of property is this?
    Retail space - Retail plaza with development potential near entertainment venues.
    Where is this retail space located?
    The property is located at 1219 CARRAWAY BOULEVARD Birmingham, AL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Prime location in Birmingham's entertainment district on Carraway Blvd.; Walking distance to the new 'The Star at Uptown' mixed‑use development, including an amphitheater and 256 workforce housing units.; Retail plaza with 4 spaces, 2 of which are currently occupied, offering immediate income potential.
    (205) 822-2272
    We can help!
    Listing Contact
    Randal Chatman
    Randal Chatman
    Real Estate License ID: 124162
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1219 CARRAWAY BOULEVARD, BIRMINGHAM, AL 35234
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