Renovated Commercial Building with
2221 Pelham Parkway Pelham, AL 35124
2221 Pelham Parkway, Pelham, AL, 35124
$575,000
For Sale
$575,000
Two-story commercial building with garage, renovated in 2024.
Property Size2,500 SF
Price / SF$230
Days on Market129
Property Features for 2221 Pelham Parkway
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2001
Listing Agency
RealtySouth-Inverness Office
(205) 249-5931
Listed by
Tammy Mularski · License #109526
(205) 249-5931
Source
Exitrealty
Added: Mar 11 Checked: Jul 17 at 5:42 am
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 RealtySouth-Inverness Office
Investment Insights
Based on property information with market context.
This two-story building features a large 780-square-foot garage area, a lobby, and two public restrooms on the main level, which is handicap accessible. The upstairs area includes two large office areas, a conference room, a larger lobby, and a small kitchen area equipped with an eat-in bar, sink, and small refrigerator. A full bathroom with a shower is located adjacent to a private office. There is also a storage room. The building was renovated around 2024, with a new roof, new high-end glass garage doors on the front, and newer lighting and flooring. A security system and interior and exterior cameras will remain with the building. The roof is a rubber membrane, and the HVAC system is a Trane unit, all electric. The property has ample parking in the front and can accommodate approximately 25 cars in the back, according to the seller. Previously used as a luxury used car lot since 2001, the property has frontage on Highway 31 - Pelham Parkway. The property is being sold as is.
Key Highlights
- Renovated in approximately 2024 with new roofing, high‑end glass garage doors, lighting, and flooring.
- Large garage area (780 s/f) with high‑end glass doors.
- Ample parking with approximately 25 spaces in the back.
Local Financial Insights For Office B
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 | $45.0k | $18.00 |
| − Vacancy | −$9.9k | −$3.96 |
| EGI | $35.1k | $14.04 |
| − OpEx | −$8.8k | −$3.51 |
| NOI | $26.3k | $10.53 |
2,500 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$376.1K
$329.1K – $438.8K
NOI $26,325 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$336.4K
$294.3K – $392.4K
NOI $23,546 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$586.8K
$513.5K – $684.6K
NOI $41,076 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
SELECTIVE AUTOMOTIVE COM
Car Dealership
Similar For Sale Nearby
Similar Off Market Nearby
- Penske Truck Rental — 2691 pelham pkwy, pelham, al 35124
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- Thrifty Car Rental - Pelham Hle Thrifty TLE — 2691 Pelham Pkwy, Pelham, AL 35124
- U-Haul Neighborhood Dealer — 2310 Pelham Pkwy, Pelham, AL 35124
- Hertz Car Rental - Pelham - Pelham Parkway HLE — 2691 Pelham Pkwy, Pelham, AL 35124
FAQs
What type of property is this?
Parking lot & garage - Two-story commercial building with garage, renovated in 2024.
Where is this parking lot & garage located?
The property is located at 2221 Pelham Parkway Pelham, AL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Renovated in approximately 2024 with new roofing, high‑end glass garage doors, lighting, and flooring.; Large garage area (780 s/f) with high‑end glass doors.; Ample parking with approximately 25 spaces in the back.
