Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    223 1st N Street Alabaster, AL 35007

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $475,000

    Prime location in Alabaster's Medical Mile District.

    Type:Commercial/Industrial
    Property size:
    3,290 SF
    Added:
    Mar 2, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 7 at 8:46 pm

    Property Features for 223 1st N Street

    General Information

    Standard status
    Active
    Size
    3,290 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Mo Deeb
    Mo Deeb

    Listing agent Mo Deeb License #000112925

    Listing office Mo Deeb Realty Group

    Listing date Mar 2, 2026

    Source Exitrealty

    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 Mo Deeb Realty Group

    Overview

    Alabaster Medical Mile Opportunity

    Located in the Medical Mile District of Alabaster, the property at 223 1st Street N offers high visibility and stable traffic counts. The location provides proximity to one of Shelby County’s rapidly expanding markets and is strategically positioned near established retail, dining, and residential developments. The property's flexible layout and high-exposure frontage make it suitable for multiple income-producing uses, including retail, office, or service-based tenants. It is suitable for a medical, dental, healthcare, optical, chiropractic, spa, law firm, or CPA firm, or other professional office. The property contains 3290 square feet. Alabaster’s steady population growth and business-friendly environment may appeal to investors seeking both immediate and future value.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Alabaster Animal Clinic — 1378 1st St N, Alabaster, AL 35007

    Location Insight

    • Map
    • Local Demand
    City
    Alabaster
    County
    Shelby
    State
    Alabama
    Longitude
    -86.8160841
    Latitude
    33.2463723

    Nearby Similar for Sale

    • $800

      Prime Office Space Near I65

      Well-maintained office space with I65 access and conference room.
      101 AVIATORS VIEW DRIVE, ALABASTER, AL 35007
      View Details
    • $308,000

      Highway 119 Commercial Opportunity

      Commercial property on Highway 119, Alabaster. High visibility and traffic.
      10599 HIGHWAY 119, ALABASTER, AL 35007
      View Details
    • $290,000

      Commercial Property in Alabaster, AL

      Commercial property with road frontage and easy interstate access.
      1314 1ST STREET, ALABASTER, AL 35007
      View Details
    • $1,599,000
      17,500 SF

      Alabaster Warehouse with Office/Showroom

      17,500 SF warehouse with office/showroom space for sale.
      130 Commercial Ct, Alabaster, AL 35007
      View Details
    • $800,000
      7,800 SF

      Versatile Flex Space in Alabaster

      Flex space with warehouse, convenient location, expansion opportunity.
      105 Corporate Woods Cir, Alabaster, AL
      View Details
    • $60,000
      530 SF

      Investment Opportunity with Rental Income

      Property with existing month-to-month lease, ideal for investment.
      210 2nd SW Place 12, ALABASTER, AL 35007
      View Details
    • $4,200,000
      33,730 SF

      Former YMCA Facility on 3 Acres

      33,730 SF former YMCA on 3 acres available for sale.
      117 Plaza Cir, Alabaster, AL 35007
      View Details
    • $1,700,000
      10,060 SF

      Medical Office Building For Sale

      Medical office building with immediate occupancy and long-term lease income.
      122 7th Ave NE, Alabaster, AL 35007
      View Details
    • $2,200,000
      4,800 SF

      Commercial Property in Alabaster, Alabama

      Commercial property available for sale in Alabaster, Alabama.
      251 Buck Creek Plaza Hwy 119, Alabaster, AL 35007
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Prime location in Alabaster's Medical Mile District.
    Where is this medical office space located?
    The property is located at 223 1st N Street Alabaster, AL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Prime location in Alabaster's Medical Mile District.; Exceptional visibility and stable traffic counts.; Strategically positioned near retail, dining, and residential developments.
    (205) 515-1012
    We can help!
    Listing Contact
    Mo Deeb
    Mo Deeb
    Real Estate License ID: 000112925
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!