Alabaster Medical Mile
223 1st N Street Alabaster, AL 35007
223 1st N Street, Alabaster, AL, 35007
$475,000
For Sale
$475,000
Prime location in Alabaster's Medical Mile District.
Property Size3,290 SF
Price / SF$144.38
Days on Market137
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
Listing Agency
Mo Deeb Realty Group
(205) 515-1012
Listed by
Mo Deeb · License #000112925
(205) 515-1012
Source
Exitrealty
Added: Mar 2 Checked: Jul 16 at 3:30 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 Mo Deeb Realty Group
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Prime location in Alabaster's Medical Mile District.
- Exceptional visibility and stable traffic counts.
- Strategically positioned near retail, dining, and residential developments.
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 | $59.2k | $18.00 |
| − Vacancy | −$13.0k | −$3.96 |
| EGI | $46.2k | $14.04 |
| − OpEx | −$11.5k | −$3.51 |
| NOI | $34.6k | $10.53 |
3,290 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$636.0K
$556.5K – $742.0K
NOI $44,522 @ 7.0% cap · market cap 9.37%
Second Best
Office B
$494.9K
$433.1K – $577.4K
NOI $34,644 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$772.2K
$675.7K – $900.9K
NOI $54,056 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Alabaster Animal Clinic — 1378 1st St N, Alabaster, AL 35007
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.
