Three-Level Mixed-Use
For Sale
$3,900,000
Pending
2213 UNIVERSITY Boulevard, Tuscaloosa, AL 35401
COMMERCIAL - Tuscaloosa, AL
Property Size25,520 SF
Lot Size0.20 Acres
Days on Market230
Property Features for 2213 UNIVERSITY Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Lurleen B. Wallace Boulevard, turn right onto University Boulevard. The destination will be on your right.
Subdivision
(02) Central Tuscaloosa City
Standard status
Pending
APN
31-05-22-1-108-028.000
Size
25,520 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
Lot Pt 168 & 169 In Orig City Sur. Subd Desc. As: Beg. At The N.E. Cor Of Lot 169, McCalla St. Center Sur. Of 1891, W. 142' (S) Alg. University Blvd. To P.O.B., Cont. W. 67.5' With Blvd., S. 132', E. 67.5', N. 132' To P.O.B.
Legal Description
Lot Pt 168 & 169 In Orig City Sur. Subd Desc. As: Beg. At The N.E. Cor Of Lot 169, McCalla St. Center Sur. Of 1891, W. 142' (S) Alg. University Blvd. To P.O.B., Cont. W. 67.5' With Blvd., S. 132', E. 67.5', N. 132' To P.O.B.
Building Details
Number of units
1
Listing Agency:
Pritchett Moore Real Estate
(205) 349-6500
Listed By:
JacQuan Winters · License #AL 129528-0
(205) 535-6564
Added: Jan 1
Changed: Aug 19
Last Checked: Aug 19 at 6:06PM
MLS# 172873
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1945, this 25,520-square-foot downtown building includes three levels: a first floor, second floor, and full basement. The configuration provides multiple floor plates for redevelopment or adaptive reuse, with the D (Downtown) zoning designation supporting commercial, residential, and mixed-use concepts.
The property occupies approximately 0.20 acres in central Tuscaloosa, within walking distance of major employers, restaurants, bars, hotels, entertainment venues, and the Tuscaloosa Riverwalk. It is also located within a designated Opportunity Zone, placing the building in an established urban setting with a broad mix of nearby destinations.
The property occupies approximately 0.20 acres in central Tuscaloosa, within walking distance of major employers, restaurants, bars, hotels, entertainment venues, and the Tuscaloosa Riverwalk. It is also located within a designated Opportunity Zone, placing the building in an established urban setting with a broad mix of nearby destinations.
Key Highlights
- 25,520 SF building constructed in 1945
- Three levels include first floor, second floor, and full basement
- Approximately 0.20 acres in downtown Tuscaloosa
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
$303,130
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
7.77%
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%
$6,062,600
$6.1M
Cap Rate 7%
$4,330,429
$4.3M
Cap Rate 9%
$3,368,111
$3.4M
Market Conditions
NOI Build-Up for 25,520 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
$535.9K $21.00/SF
− Vacancy
−$50.9K −$2.00/SF
EGI
$485.0K $19.01/SF
− OpEx
−$181.9K −$7.13/SF
NOI
$303.1K $11.88/SF
Area
Tuscaloosa, AL
Vacancy
9.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$6,062,600
Cap Rate 7%
$4,330,429
Cap Rate 9%
$3,368,111
Alternative Uses
Best Use
Mixed Use
$4.33M
$3.79M – $5.05M
NOI $303,130 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$4.09M
$3.58M – $4.78M
NOI $286,589 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$6.13M
$5.37M – $7.15M
NOI $429,287 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
177k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Hotels & Casinos 10%
Shops & Services 10%
McDonald's
Dining
31,349 visits/mo
0.5 miles
Half Shell Oyster House
Dining
15,296 visits/mo
0.2 miles
Hardee's
Dining
13,763 visits/mo
0.5 miles
Dunkin' Donuts
Dining
13,381 visits/mo
0.4 miles
Burger King
Dining
12,540 visits/mo
0.4 miles
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown asset zoned for commercial, residential, and mixed-use development concepts.
Where is this mixed-use property located?
The property is located at 2213 UNIVERSITY Boulevard Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 25,520 SF building constructed in 1945; Three levels include first floor, second floor, and full basement; Approximately 0.20 acres in downtown Tuscaloosa
