Mixed-Use Property with Office and
1315 WATER ST, Tarrant, AL 35217
For Sale
Contact for pricing
Three street-facing office suites sit at the front, with a warehouse and work area behind them.
Property Size3,567 SF
Lot Size0.17 Acres
Price / SF$56.04
Days on Market19
Property Features for 1315 WATER ST
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Gross Income
Tenant in Place
Property Use
Building Details
Year Built
Buildings
Building Size
Construction
Listing Agency:
Keller Williams Metro South
Listed By:
Chris Mallery · License #000128183 AL
(205) 821-2751
Source:
Crexi
Added: Oct 22
Changed: Nov 8
Last Checked: Nov 8 at 3:24PM
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 Metro South
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,567-square-foot mixed-use building occupies a 0.17-acre corner lot in Tarrant. Three separate offices face the road; two are occupied, while the third is available. The rear portion contains a warehouse and work area with a truck door and restroom. Multiple exterior entrances and on-site parking serve the property. Built in 1986, the structure combines aluminum/steel, brick, and frame construction and has central electric heating and air conditioning.
The site has road frontage and access to I-20/59 and AL-79 toward downtown Birmingham. It is zoned B2; permitted uses should be verified by the buyer.
The site has road frontage and access to I-20/59 and AL-79 toward downtown Birmingham. It is zoned B2; permitted uses should be verified by the buyer.
Key Highlights
- 3,567 SF building on a 0.17‑acre corner lot
- Three road‑facing office suites; two are occupied and one is available
- Rear warehouse/work area includes a truck door and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,229
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,580
$264.6K
Cap Rate 7%
$188,986
$189.0K
Cap Rate 9%
$146,989
$147.0K
Market Conditions
NOI Build-Up for 3,567 SF
Gross rent
$24.0K $6.72/SF
− Vacancy
−$2.8K −$0.79/SF
EGI
$21.2K $5.93/SF
− OpEx
−$7.9K −$2.23/SF
NOI
$13.2K $3.71/SF
Area
Jefferson County, AL
Vacancy
11.70%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$264,580
Cap Rate 7%
$188,986
Cap Rate 9%
$146,989
Alternative Uses
Best Use
Warehouse
$569.4K
$498.2K – $664.3K
NOI $39,859 @ 7.0% cap · market cap 19.94%
Second Best
Mixed Use
$189.0K
$165.4K – $220.5K
NOI $13,229 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,898 @ 7.0% cap · market cap 42.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 35217, AL
12,891
Population
6,196
Households
2.1
Avg Household Size
39
Median Age
11%
College-Educated
78%
High-School Grad
17.7 sq mi
ZIP Area
728
Density / Sq Mi
$38,769
Median Household Income
$31,210
Median Earnings
$835
Median Rent
$113,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three street-facing office suites sit at the front, with a warehouse and work area behind them.
Where is this mixed-use property located?
The property is located at 1315 WATER ST Tarrant, AL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 3,567 SF building on a 0.17‑acre corner lot; Three road‑facing office suites; two are occupied and one is available; Rear warehouse/work area includes a truck door and restroom
