Modern Unit with Garage
For Sale
$280,000
2201 5TH AVENUE S #405, Birmingham, AL 35233
Top floor unit near UAB with premium garage parking.
Property Size974 SF
Price / SF$287.47
Days on Market505
Property Features for 2201 5TH AVENUE S #405
General Information
Standard status
Active
Size
974 SF
Property subtype
Condominium
Amenities
Cooling: Central (COOL), Dual Systems (COOL), Electric (COOL)
Heating: Central (HEAT), Electric (HEAT)
Dishwasher Built-In, Oven-Electric, Refrigerator, Some Stainless Appl, Stove-Electric
Building Details
Building Size
974 SF
Year Built
1920
Listing Agency:
Keller Williams Realty Vestavia
Listed By:
Ken Grodner · License #AR0134276
(908) 319-8499
Source:
Kw
Added: Jun 1, 2025
Changed: Aug 8
Last Checked: May 19 at 9:34PM
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 Vestavia
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Investment Insights
Based on property information with market context.
This modern, owner-occupied unit is located on the 4th floor. The property features large windows, polished concrete floors, exposed ductwork, and high ceilings. A premium deeded garage parking space is included, featuring a dedicated electric car charging circuit (50A NEMA 14-50). The unit is equipped with dual A/C units with Nest thermostats. The kitchen includes granite countertops, a tile backsplash, under cabinet lighting, and stainless appliances, including a new LG refrigerator. The large bedroom features a walk-in closet with custom built-in shelving and drawers. A dedicated laundry closet contains additional storage and includes a low cycle LG washer/dryer unit with full-size capacity. The bathroom contains a vanity with additional cabinetry and a large walk-in shower. A large, secure, climate-controlled storage room is located down the hall from the unit. The property is located directly across the street from the UAB campus. The property size is 974 square feet.
Key Highlights
- Premium deeded GARAGE parking space with dedicated electric car charging circuit (50A NEMA 14‑50).
- Directly across the street from the UAB campus.
- Large, secure, climate controlled storage room down the hall from the unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,519
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,380
$190.4K
Cap Rate 7%
$135,986
$136.0K
Cap Rate 9%
$105,767
$105.8K
Market Conditions
NOI Build-Up for 974 SF
Gross rent
$15.2K $15.60/SF
− Vacancy
−$1.6K −$1.64/SF
EGI
$13.6K $13.96/SF
− OpEx
−$4.1K −$4.19/SF
NOI
$9.5K $9.77/SF
Area
Birmingham, AL
Vacancy
10.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,380
Cap Rate 7%
$135,986
Cap Rate 9%
$105,767
Alternative Uses
Best Use
Retail
$136.0K
$119.0K – $158.7K
NOI $9,519 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$100.3K
$87.8K – $117.1K
NOI $7,024 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$228.6K
$200.0K – $266.7K
NOI $16,003 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 35233, AL
2,588
Population
2,710
Households
1
Avg Household Size
27
Median Age
90%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
1,725
Density / Sq Mi
$52,207
Median Household Income
$48,750
Median Earnings
$1,526
Median Rent
$332,100
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 Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Top floor unit near UAB with premium garage parking.
Where is this apartment building located?
The property is located at 2201 5TH AVENUE S #405 Birmingham, AL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Premium deeded GARAGE parking space with dedicated electric car charging circuit (50A NEMA 14‑50).; Directly across the street from the UAB campus.; Large, secure, climate controlled storage room down the hall from the unit.
