Versatile Flex Property Near
1318 1st Ave N Birmingham, AL 35203
1318 1st Ave N, Birmingham, AL, 35203
Contact for pricing
For Sale
Contact for pricing
Adaptable flex property near I-65, suitable for various business needs.
Property Size22,995 SF
Price / SF$53.27
Days on Market765
Property Features for 1318 1st Ave N
General Information
- Standard status
- Active
- Size
- 22,995 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1940
Listing Agency
Ironvest Partners
(678) 577-2748
Listed by
Bart Moore · License #AL 000143413-0
Source
Crexi
Added: Jun 13, 2024 Checked: Jul 16 at 12:09 pm
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 Ironvest Partners
Investment Insights
Based on property information with market context.
The flex property at 1318 1st Avenue North is located two blocks from I-65 and minutes from I-20/59, providing accessibility to Downtown Birmingham and the Parkside district. The surrounding area includes restaurants, lofts, small manufacturers, and service businesses. This property of 22995 square feet features recent upgrades, including a new restroom and roll-up door. The adaptable layout can accommodate single or multiple users, making it suitable for a variety of business needs.
Key Highlights
- Prime location: Two blocks from I‑65 and minutes from I‑20/59, providing easy access to Downtown Birmingham and Parkside district.
- Versatile flex property suitable for single or multiple users.
- Recent upgrades including a new restroom and roll‑up door.
Local Financial Insights For Industrial
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 | $165.6k | $7.20 |
| − Vacancy | −$14.6k | −$0.63 |
| EGI | $151.0k | $6.57 |
| − OpEx | −$45.3k | −$1.97 |
| NOI | $105.7k | $4.60 |
22,995 SF · lease $7.20/SF/yr · vacancy 8.80% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$3.19M
$2.79M – $3.72M
NOI $223,484 @ 7.0% cap · market cap 18.24%
Second Best
Industrial
$1.51M
$1.32M – $1.76M
NOI $105,696 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$5.40M
$4.72M – $6.30M
NOI $377,817 @ 7.0% cap · market cap 30.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Bayou Bros Food Truck & Catering — 113 12th St N, Birmingham, AL 35203
- Crestline Catering Co. — 1500 1st Ave N, Birmingham, AL 35203
- Tre Luna Catering — 2513 5th Ave S, Birmingham, AL 35233
- Seek First — 1720 University Blvd, Birmingham, AL 35233
- Big Al's — 1720 University Blvd, Birmingham, AL 35233
FAQs
What type of property is this?
Flex space - Adaptable flex property near I-65, suitable for various business needs.
Where is this flex space located?
The property is located at 1318 1st Ave N Birmingham, AL.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Prime location: Two blocks from I‑65 and minutes from I‑20/59, providing easy access to Downtown Birmingham and Parkside district.; Versatile flex property suitable for single or multiple users.; Recent upgrades including a new restroom and roll‑up door.
