217 1st Street North, Alabaster, AL 35007
Frontage on Highway 31 with private parking and a long-term tenant already in place.
- Added:
- Jun 17, 2026
- Days on Market:
- 10
- Last Refresh:
- Jun 24 at 2:30 am
Property Features for 217 1st Street North
General Information
- Standard status
- Active
- Size
- 3,800 SF
- Property subtype
- Retail
Listing office Shannon Waltchack (205) 369-0809
Listing date Jun 17, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Shannon Waltchack
HighLights
- Long‑term tenant Salon 5 in place for over 20 years with 2.5 years remaining on the lease
- Frontage on Highway 31 in the Medical Mile area with convenient access to I‑65
- Private parking available on‑site
- New roof and new front deck
- Located in rapidly growing Alabaster, about 25 minutes south of Birmingham
Overview
Located in Alabaster on the Medical Mile along Highway 31, the property offers convenient access to I-65. The site features private parking and provides excellent visibility with frontage on Highway 31, benefiting from its established corridor setting. Alabaster is described as rapidly growing, approximately 25 minutes south of Birmingham.
For buyers seeking an income-producing retail asset with an existing, operating tenant, this storefront provides a straightforward setup: a commercial frontage location, on-site private parking, and recently completed exterior improvements. The lease expiration timeline of roughly 2.5 years remaining should be a key consideration for anyone evaluating near- to mid-term occupancy and disposition planning.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.0k | $15.00 |
| − Vacancy | −$5.9k | −$1.55 |
| EGI | $51.1k | $13.46 |
| − OpEx | −$15.3k | −$4.04 |
| NOI | $35.8k | $9.42 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Donnas Beautiful Buds — 1131 1st St N, Alabaster, AL 35007
Location Insight
- Map
- Local Demand
- City
- Alabaster
- County
- Shelby
- State
- Alabama
- Longitude
- -86.8161272
- Latitude
- 33.2457968
