Building Details

Building Size 22,995 SF

Year Built 1940

Year Renovated 2025

Listing Agency: Ironvest Partners

Listed By: Jordan Weaver · License ##000126065-0 Show Phone

Source: Commercialcafe

Added: Mar 26 Changed: Oct 23 Last Checked: Oct 24 at 1:23PM

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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

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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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,696

Cap Rate

8.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,113,920 $2.1M

Cap Rate 7%

$1,509,943 $1.5M

Cap Rate 9%

$1,174,400 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 22,995 SF

Gross rent

$165.6K $7.20/SF

− Vacancy

−$14.6K −$0.63/SF

EGI

$151.0K $6.57/SF

− OpEx

−$45.3K −$1.97/SF

NOI

$105.7K $4.60/SF

Area

Birmingham, AL

Vacancy

8.80%

Lease Rate

$7.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,113,920

Cap Rate 7%

$1,509,943

Cap Rate 9%

$1,174,400

Alternative Uses

Best Use

Flex RnD

$3.19M

$2.79M – $3.72M (±1% cap)

NOI $223,484 @ 7.0% cap · market cap 18.24%

Second Best

Industrial

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,696 @ 7.0% cap · market cap 8.63%

Theoretical Best

Office A

$5.40M

$4.72M – $6.30M (±1% cap)

NOI $377,817 @ 7.0% cap · market cap 30.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Veterinary Clinic Butcher Tanning Salon Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

614

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 35203, AL

3,595

Population

2,114

Households

1.7

Avg Household Size

37

Median Age

41%

College-Educated

83%

High-School Grad

2.1 sq mi

ZIP Area

1,712

Density / Sq Mi

$46,829

Median Household Income

$51,183

Median Earnings

$954

Median Rent

$288,600

Median Home Value

Market

Vacancy Rate% for Industrial in Birmingham, AL

6.5% 2019

5.1% 2020

4.7% 2021

7.3% 2022

13.5% 2023

9.2% 2024

5.6% 2025

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Frequently Asked Questions

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 Avenue North 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.