Freestanding Office Building with
586 Shades Crest Road Birmingham, AL 35226
For Sale
$700,000
Three-story office building offers two separately entered suites with additional storage on the lower level.
Property Size3,842 SF
Lot Size1.24 Acres
Price / SF$182.20
Days on Market156
Property Features for 586 Shades Crest Road
General Information
- Standard status
- Active
- Size
- 3,842 SF
- Lot size
- 1.24 Acres
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 1974
Properties For Sale
at 586 Shades Crest Road Contact us
Listing Agency:
Red Rock Realty Group
(813) 309-2875
Listed By:
Trish Rushing, CCIM · License ##104714
(813) 309-2875
Source:
Thebrokerlist
Added: Feb 18
Changed: Jul 23
Last Checked: Jul 23 at 12:27PM
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.
Freestanding office building with three floors and multiple secure-use areas. The top two floors are fully built out, each with a separate entry and approximately equal size suites. The lower level includes approximately 1,154 square feet of storage space, which may support a variety of uses.
The property sits on 1.24 acres along Shades Crest Road and includes the historical Lover’s Leap Lookout. It is positioned just off the corner of Shades Crest Road and Park Avenue, next door to the former Tip Top Grill.
As configured, the building supports separate tenancy across the upper floors while maintaining an additional dedicated storage level below.
The property sits on 1.24 acres along Shades Crest Road and includes the historical Lover’s Leap Lookout. It is positioned just off the corner of Shades Crest Road and Park Avenue, next door to the former Tip Top Grill.
As configured, the building supports separate tenancy across the upper floors while maintaining an additional dedicated storage level below.
Key Highlights
- Freestanding three‑story office building built in 1974 on 1.24 acres along Shades Crest Rd.
- Two fully built‑out suites on the top two floors, each approx. 1,344 SF, with separate entries for two tenants.
- Bottom floor offers approx. 1,154 SF of storage space with potential for additional uses.
Financial Insights For Office B
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 | $78.4k | $20.40 |
| − Vacancy | −$16.9k | −$4.39 |
| EGI | $61.5k | $16.01 |
| − OpEx | −$15.4k | −$4.00 |
| NOI | $46.1k | $12.01 |
3,842 SF · lease $20.40/SF/yr · vacancy 21.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$659.2K
$576.8K – $769.1K
NOI $46,144 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$901.8K
$789.1K – $1.05M
NOI $63,126 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Battle Miller Construction
Construction Company
Lover's Leap
Resort
FAQs
What type of property is this?
Office building - Three-story office building offers two separately entered suites with additional storage on the lower level.
Where is this office building located?
The property is located at 586 Shades Crest Road Birmingham, AL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Freestanding three‑story office building built in 1974 on 1.24 acres along Shades Crest Rd.; Two fully built‑out suites on the top two floors, each approx. 1,344 SF, with separate entries for two tenants.; Bottom floor offers approx. 1,154 SF of storage space with potential for additional uses.
