Fully Renovated Historic Office
For Sale
$1,495,000
4984 Overton Rd, Birmingham, AL 35210
Historic office building offers eight private offices, a large waiting room, and a dedicated outdoor patio area.
Property Size6,861 SF
Days on Market151
Property Features for 4984 Overton Rd
General Information
Standard status
Active
Size
6,861 SF
Class
A
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
8
Building Details
Building Size
6,861 SF
Listing Agency:
Red Rock Realty Group
Listed By:
Jack Little
(205) 908-3256
Source:
Redrockrg
Added: Apr 8
Changed: Sep 3
Last Checked: Sep 5 at 6:18AM
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 Red Rock Realty Group
Investment Insights
Based on property information with market context.
This fully renovated historic office building provides a quiet, private setting and a practical internal layout for professional use. The space includes eight private offices, a large waiting room, and a reception area with a back office. It also features a full kitchen area and ample break space, along with large outdoor patio areas for tenant use.
The property is located just off I-459 at Liberty Park in the City of Irondale and offers plentiful parking for visitors and staff.
Overall, the building is configured around a reception and waiting area, supported by multiple private offices, kitchen/break amenities, and outdoor patio space.
The property is located just off I-459 at Liberty Park in the City of Irondale and offers plentiful parking for visitors and staff.
Overall, the building is configured around a reception and waiting area, supported by multiple private offices, kitchen/break amenities, and outdoor patio space.
Key Highlights
- Fully renovated historic office building just off I‑459 near Liberty Park
- 8 private offices plus large waiting room and back‑office reception area
- Dedicated kitchen/break area for staff and guests
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
$82,404
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
5.51%
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%
$1,648,080
$1.6M
Cap Rate 7%
$1,177,200
$1.2M
Cap Rate 9%
$915,600
$915.6K
Market Conditions
NOI Build-Up for 6,861 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
$140.0K $20.40/SF
− Vacancy
−$30.1K −$4.39/SF
EGI
$109.9K $16.01/SF
− OpEx
−$27.5K −$4.00/SF
NOI
$82.4K $12.01/SF
Area
Birmingham, AL
Vacancy
21.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,648,080
Cap Rate 7%
$1,177,200
Cap Rate 9%
$915,600
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.37M
NOI $82,404 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,729 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 35210, AL
14,344
Population
7,204
Households
2
Avg Household Size
43
Median Age
46%
College-Educated
95%
High-School Grad
24.9 sq mi
ZIP Area
576
Density / Sq Mi
$72,632
Median Household Income
$48,194
Median Earnings
$1,164
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Office in Birmingham, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Historic office building offers eight private offices, a large waiting room, and a dedicated outdoor patio area.
Where is this office building located?
The property is located at 4984 Overton Rd Birmingham, AL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Fully renovated historic office building just off I‑459 near Liberty Park; 8 private offices plus large waiting room and back‑office reception area; Dedicated kitchen/break area for staff and guests
