Renovated Loft Office
2429 1st Ave N, Birmingham, AL 35203
For Sale
$650,000
A fully renovated loft office condo with tall ceilings, natural light, and multiple private offices for professional or creative teams.
Property Size2,500 SF
Days on Market140
Property Features for 2429 1st Ave N
General Information
Standard status
Size
Class
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Listing Agency:
Red Rock Realty Group
Listed By:
Jack Little
(205) 908-3256
Source:
Redrockrg
Added: Jun 25
Changed: Oct 26
Last Checked: Nov 10 at 7:31AM
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 Red Rock Realty Group
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Investment Insights
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This fully renovated creative loft office condo features tall ceilings and abundant natural light. The interior includes several private offices alongside a break area and a conference space, with private restrooms provided for tenant use. The layout is designed to support both professional and creative workflows within a high-quality buildout.
The property is well located along 1st Avenue N with multiple parking options available. Visibility is noted as a key attribute, supporting foot traffic and ease of access for visitors and clients.
As an owner-user option for a small business, the configuration of private offices, conference space, and restrooms supports day-to-day operations without requiring additional internal construction. It can also be a strong fit for organizations seeking a renovated loft-style environment that balances collaborative space with dedicated rooms for focused work.
The property is well located along 1st Avenue N with multiple parking options available. Visibility is noted as a key attribute, supporting foot traffic and ease of access for visitors and clients.
As an owner-user option for a small business, the configuration of private offices, conference space, and restrooms supports day-to-day operations without requiring additional internal construction. It can also be a strong fit for organizations seeking a renovated loft-style environment that balances collaborative space with dedicated rooms for focused work.
Key Highlights
- Fully renovated creative loft office condo built in 1924
- Tall ceilings and natural light throughout
- Includes several private offices for a professional or creative team
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,026
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,520
$600.5K
Cap Rate 7%
$428,943
$428.9K
Cap Rate 9%
$333,622
$333.6K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$51.0K $20.40/SF
− Vacancy
−$11.0K −$4.39/SF
EGI
$40.0K $16.01/SF
− OpEx
−$10.0K −$4.00/SF
NOI
$30.0K $12.01/SF
Area
Birmingham, AL
Vacancy
21.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,520
Cap Rate 7%
$428,943
Cap Rate 9%
$333,622
Alternative Uses
Best Use
Office B
$428.9K
$375.3K – $500.4K
NOI $30,026 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.8K
$513.5K – $684.6K
NOI $41,076 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,730
Businesses Nearby
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Business Placement
Demographics for 35203, AL
3,595
Population
2,114
Households
1.7
Avg Household Size
37
Median Age
41%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
1,712
Density / Sq Mi
$46,829
Median Household Income
$51,183
Median Earnings
$954
Median Rent
$288,600
Median Home Value
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Market
Vacancy Rate% for Office in Birmingham, AL
Frequently Asked Questions
What type of property is this?
Creative space - A fully renovated loft office condo with tall ceilings, natural light, and multiple private offices for professional or creative teams.
Where is this creative space located?
The property is located at 2429 1st Ave N Birmingham, AL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fully renovated creative loft office condo built in 1924; Tall ceilings and natural light throughout; Includes several private offices for a professional or creative team
