Retail Plaza in Entertainment
1219 Carraway Boulevard Birmingham, AL 35234
For Sale
$1,000,000
Pending
Retail plaza in Birmingham's entertainment district, development opportunity.
Property Size4,050 SF
Lot Size0.34 Acres
Days on Market931
Property Features for 1219 Carraway Boulevard
General Information
Standard status
Pending
Size
4,050 SF
Lot size
0.34 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
2020
Listing Agency:
Keller Williams Realty Hoover
(205) 420-1075
Listed By:
Randal Chatman · License #124162
(205) 420-1075
Source:
Exitrealty
Added: Jan 11, 2024
Changed: Jul 6
Last Checked: Jul 29 at 7:35AM
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 Keller Williams Realty Hoover
Investment Insights
Based on property information with market context.
This retail plaza, located in the heart of Birmingham's entertainment district on Carraway Boulevard, presents a valuable opportunity. The plaza contains four spaces, with three currently occupied. One space is available for build-out or tenant placement with a build-out plan. The property is within walking distance of the new The Star at Uptown mixed-use development project, which has commenced demolition and includes a new amphitheater in collaboration with Live Nation. This development will also introduce 256 workforce housing units, providing potential customers for local businesses. The location 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, located at 1223 and 1227 Carraway Boulevard. This location is ideal for retail, shopping, dining, and entertainment businesses.
Key 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.
- Walking distance to Top Golf, Uptown Entertainment District, Protective Stadium, and the BJCC.
Financial Insights For Retail
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 | $63.2k | $15.60 |
| − Vacancy | −$6.6k | −$1.64 |
| EGI | $56.5k | $13.96 |
| − OpEx | −$17.0k | −$4.19 |
| NOI | $39.6k | $9.77 |
4,050 SF · lease $15.60/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$565.5K
$494.8K – $659.7K
NOI $39,582 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$950.6K
$831.8K – $1.11M
NOI $66,543 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Shopping center - Retail plaza in Birmingham's entertainment district, development opportunity.
Where is this shopping center 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.; Walking distance to Top Golf, Uptown Entertainment District, Protective Stadium, and the BJCC.
