Commercial Condo with Build-Out
For Sale
$179,000
Pending
2025 1st N Avenue 100, Birmingham, AL 35203
Commercial condominium with flexible space in a prime location.
Property Size1,970 SF
Days on Market256
Property Features for 2025 1st N Avenue 100
General Information
Standard status
Pending
Size
1,970 SF
Property subtype
Commercial/Industrial
Site & Location
Neighborhood
Eastwood
Building Details
Year Built
1940
Listing Agency:
Keller Williams Homewood
(205) 875-6959
Listed By:
Jena Standard · License #105999
(205) 566-1371
Source:
Exitrealty
Added: Feb 15
Changed: Oct 25
Last Checked: Oct 7 at 10:23AM
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 Homewood
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Investment Insights
Based on property information with market context.
This commercial condominium, offered as is and to be built, is located in a prime location. The property includes approximately 1,970 square feet on the main level, complemented by an additional 2,150-square-foot basement. This layout provides flexible space suitable for various commercial applications. It is ideal for both owner-users and investors looking for value and future build-out potential. The monthly condo dues are $1204. Buyers are advised to verify permitted uses, specifications, and build-out options. This unit presents an opportunity to secure a commercial space with strong upside in a sought-after area.
Key Highlights
- Priced below appraised value, offering immediate equity potential.
- Prime location with strong upside potential in a sought‑after area.
- Approximately 1,970 SF on the main level plus a 2,150 SF basement, providing flexible space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,055
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,100
$181.1K
Cap Rate 7%
$129,357
$129.4K
Cap Rate 9%
$100,611
$100.6K
Market Conditions
NOI Build-Up for 1,970 SF
Gross rent
$14.2K $7.20/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$12.9K $6.57/SF
− OpEx
−$3.9K −$1.97/SF
NOI
$9.1K $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%
$181,100
Cap Rate 7%
$129,357
Cap Rate 9%
$100,611
Alternative Uses
Best Use
Office B
$338.0K
$295.8K – $394.4K
NOI $23,661 @ 7.0% cap · market cap 13.22%
Second Best
Flex RnD
$273.5K
$239.3K – $319.1K
NOI $19,146 @ 7.0% cap · market cap 10.70%
Theoretical Best
Office A
$462.4K
$404.6K – $539.5K
NOI $32,368 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Birmingham, AL
Frequently Asked Questions
What type of property is this?
Office unit - Commercial condominium with flexible space in a prime location.
Where is this office unit located?
The property is located at 2025 1st N Avenue 100 Birmingham, AL.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Priced below appraised value, offering immediate equity potential.; Prime location with strong upside potential in a sought‑after area.; Approximately 1,970 SF on the main level plus a 2,150 SF basement, providing flexible space.
