Industrial Warehouse with
For Sale
Contact for pricing
200 4th St W, Birmingham, AL 35204
Vacant industrial property combining warehouse space with an adjoining lot for outdoor storage or expansion.
Property Size23,000 SF
Price / SF$69.57
Days on Market186
Property Features for 200 4th St W
General Information
Standard status
Active
Size
23,000 SF
Class
C
Property subtype
Industrial
Zoning
M1
Investment Type
Owner/User
Building Details
Year Built
1971
Year Renovated
2023
Listing Agency:
IronHorn Enterprises
Listed By:
Ryan Jenkins · License #0225268974
Source:
Crexi
Added: Feb 26
Changed: Aug 30
Last Checked: Aug 30 at 9:54AM
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 IronHorn Enterprises
Investment Insights
Based on property information with market context.
This vacant industrial property includes a warehouse on a 1.3-acre parcel and a separate 1.09-acre lot at 401 3rd Avenue W, totaling 2.39 acres across two parcels. The building provides 22,783 square feet of warehouse area, a 20-foot clear height, and five grade-level doors. M1 zoning supports its industrial character.
The property is located at 200 4th Street W in Birmingham, with access to I-20/59, I-65, and U.S. Highway 31. Downtown Birmingham, rail infrastructure, and established industrial users are located nearby. The additional parcel can provide yard area, outdoor storage, or room for future expansion.
The property is located at 200 4th Street W in Birmingham, with access to I-20/59, I-65, and U.S. Highway 31. Downtown Birmingham, rail infrastructure, and established industrial users are located nearby. The additional parcel can provide yard area, outdoor storage, or room for future expansion.
Key Highlights
- 2.39 total acres across two parcels
- 22,783 SF warehouse on 1.3 acres
- Adjacent 1.09‑acre lot at 401 3rd Avenue W
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
$128,373
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
8.02%
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%
$2,567,460
$2.6M
Cap Rate 7%
$1,833,900
$1.8M
Cap Rate 9%
$1,426,367
$1.4M
Market Conditions
NOI Build-Up for 23,000 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
$165.6K $7.20/SF
− Vacancy
−$14.6K −$0.63/SF
EGI
$151.0K $6.57/SF
− OpEx
−$22.7K −$0.98/SF
NOI
$128.4K $5.58/SF
Area
Birmingham, AL
Vacancy
8.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$2,567,460
Cap Rate 7%
$1,833,900
Cap Rate 9%
$1,426,367
Alternative Uses
Best Use
Warehouse
$1.83M
$1.60M – $2.14M
NOI $128,373 @ 7.0% cap · market cap 8.02%
Second Best
Industrial
$1.51M
$1.32M – $1.76M
NOI $105,719 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$5.40M
$4.72M – $6.30M
NOI $377,899 @ 7.0% cap · market cap 23.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35204, AL
9,271
Population
5,333
Households
1.7
Avg Household Size
43
Median Age
14%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
1,854
Density / Sq Mi
$32,880
Median Household Income
$27,864
Median Earnings
$716
Median Rent
$81,600
Median Home Value
Market
Vacancy Rate% for Industrial in Birmingham, AL
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Frequently Asked Questions
What type of property is this?
Warehouse - Vacant industrial property combining warehouse space with an adjoining lot for outdoor storage or expansion.
Where is this warehouse located?
The property is located at 200 4th St W Birmingham, AL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 2.39 total acres across two parcels; 22,783 SF warehouse on 1.3 acres; Adjacent 1.09‑acre lot at 401 3rd Avenue W
