Three-Level Mixed-Use
For Sale
$3,900,000
Pending
2213 UNIVERSITY Boulevard, Tuscaloosa, AL 35401
CommercialSale, Tuscaloosa, AL
Property Size25,520 SF
Lot Size0.20 Acres
Days on Market241
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 28
Last Checked: Aug 30 at 1:06PM
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.
Located in downtown Tuscaloosa, this 25,520-square-foot property includes a first floor, second floor, and full basement across three levels. The building was constructed in 1945 and occupies approximately 0.20 acres, providing substantial interior volume for reconfiguration or redevelopment within an existing urban structure.
The property carries D (Downtown) zoning and is within a designated Opportunity Zone. Its setting places the building near major employers, restaurants, bars, hotels, entertainment venues, and the Tuscaloosa Riverwalk. The zoning permits commercial, residential, and mixed-use development concepts, while the existing floor plates support a range of adaptive reuse approaches.
The property carries D (Downtown) zoning and is within a designated Opportunity Zone. Its setting places the building near major employers, restaurants, bars, hotels, entertainment venues, and the Tuscaloosa Riverwalk. The zoning permits commercial, residential, and mixed-use development concepts, while the existing floor plates support a range of adaptive reuse approaches.
Key Highlights
- 25,520 SF building on approximately 0.20 acres
- Three levels include a first floor, second floor, and full basement
- D (Downtown) zoning supports commercial, residential, and mixed‑use concepts
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
—
—
no second resolved use
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
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Built in 1945, the property offers flexible floor plates for adaptive reuse.
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 on approximately 0.20 acres; Three levels include a first floor, second floor, and full basement; D (Downtown) zoning supports commercial, residential, and mixed‑use concepts
