Renovated Stand-Alone Office
New
For Sale
$880,000
173 Oxmoor Road, Homewood, AL 35209
Walkable office property with updated building systems, on-site parking, and outdoor space in West Homewood.
Property Size1,874 SF
Lot Size0.31 Acres
Days on Market2
Property Features for 173 Oxmoor Road
General Information
Standard status
Active
Size
1,874 SF
Lot size
0.31 Acres
Property subtype
Retail
Building Details
Building Size
1,874 SF
Year Renovated
2025
Buildings
1
Listing Agency:
Ironvest Partners
Listed By:
Jordan Weaver · License #AL #000126065-0
(678) 577-2748
Source:
Ironvestpartners
Added: Sep 5
Last Checked: Sep 5 at 3:07PM
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.
This stand-alone office building was fully renovated in 2022, with new plumbing and HVAC installed in 2025. The property occupies approximately 0.31 acres, providing on-site parking and outdoor space for users and visitors.
Located on Oxmoor Road in West Homewood, the building is surrounded by Seeds Coffee, El Barrio, Pizzeria GM, Paramount, and X4 Fitness. The City of Homewood has approved an approximately 60-space public asphalt parking lot adjacent to the property, adding planned nearby parking for customers, clients, and employees.
Located on Oxmoor Road in West Homewood, the building is surrounded by Seeds Coffee, El Barrio, Pizzeria GM, Paramount, and X4 Fitness. The City of Homewood has approved an approximately 60-space public asphalt parking lot adjacent to the property, adding planned nearby parking for customers, clients, and employees.
Key Highlights
- Fully renovated in 2022
- New plumbing and HVAC installed in 2025
- Approximately 0.31 acres with on‑site parking and outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,025
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,500
$660.5K
Cap Rate 7%
$471,786
$471.8K
Cap Rate 9%
$366,944
$366.9K
Market Conditions
NOI Build-Up for 1,874 SF
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.
Gross rent
$49.7K $26.52/SF
− Vacancy
−$5.7K −$3.02/SF
EGI
$44.0K $23.50/SF
− OpEx
−$11.0K −$5.87/SF
NOI
$33.0K $17.62/SF
Area
Jefferson County, AL
Vacancy
11.40%
Lease Rate
$26.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$660,500
Cap Rate 7%
$471,786
Cap Rate 9%
$366,944
Alternative Uses
Best Use
Office B
$471.8K
$412.8K – $550.4K
NOI $33,025 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$644.7K
$564.1K – $752.2K
NOI $45,129 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 35209, AL
27,827
Population
15,141
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
93%
High-School Grad
9.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$72,383
Median Household Income
$45,513
Median Earnings
$1,246
Median Rent
$465,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Walkable office property with updated building systems, on-site parking, and outdoor space in West Homewood.
Where is this office building located?
The property is located at 173 Oxmoor Road Homewood, AL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Fully renovated in 2022; New plumbing and HVAC installed in 2025; Approximately 0.31 acres with on‑site parking and outdoor space
