Mixed-Use Building on Highway
For Sale
Contact for pricing
140 1ST STREET S, Alabaster, AL 35007
B-3 Community Business zoning may support a range of commercial uses, subject to municipal and other required approvals.
Property Size3,150 SF
Price / SF$2.21
Days on Market112
Property Features for 140 1ST STREET S
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Mixed Use
Zoning
B-3 Community Business
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,150 SF
Year Built
1940
Buildings
1
Listing Agency:
Keller Williams Realty Hoover
Listed By:
Derrick Oursler · License #160242
(205) 725-9288
Source:
Rightspacecre
Added: Jul 13
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 Realty Hoover
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use commercial building, constructed in 1940, is located along Highway 31 in Alabaster’s Old Alabaster commercial district. The property previously housed a retail business for more than 25 years and is offered for sale. B-3 Community Business zoning may allow a variety of commercial uses, subject to review and approval by the City of Alabaster and applicable authorities.
Key Highlights
- Positioned along Highway 31 in Alabaster’s Old Alabaster commercial district
- B‑3 Community Business zoning; uses require applicable review and approval
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,668
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,360
$593.4K
Cap Rate 7%
$423,829
$423.8K
Cap Rate 9%
$329,644
$329.6K
Market Conditions
NOI Build-Up for 3,150 SF
Gross rent
$47.3K $15.00/SF
− Vacancy
−$4.9K −$1.55/SF
EGI
$42.4K $13.46/SF
− OpEx
−$12.7K −$4.04/SF
NOI
$29.7K $9.42/SF
Area
Shelby County, AL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,360
Cap Rate 7%
$423,829
Cap Rate 9%
$329,644
Alternative Uses
Best Use
Mixed Use
$519.8K
$454.8K – $606.4K
NOI $36,383 @ 7.0% cap · market cap 523.50%
Second Best
Retail
$423.8K
$370.9K – $494.5K
NOI $29,668 @ 7.0% cap · market cap 426.88%
Theoretical Best
Office A
$739.4K
$647.0K – $862.6K
NOI $51,756 @ 7.0% cap · market cap 744.69%
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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Explore this area
Business Placement
Demographics for 35007, AL
28,274
Population
10,634
Households
2.7
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
725
Density / Sq Mi
$86,994
Median Household Income
$47,572
Median Earnings
$1,348
Median Rent
$231,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - B-3 Community Business zoning may support a range of commercial uses, subject to municipal and other required approvals.
Where is this mixed-use property located?
The property is located at 140 1ST STREET S Alabaster, AL.
What are key features of this property?
This property features: Positioned along Highway 31 in Alabaster’s Old Alabaster commercial district; B‑3 Community Business zoning; uses require applicable review and approval; Built in 1940
