Professional Office
For Sale
$240,000
244 Inverness Center Drive, Birmingham, AL 35242
Office space within a shared building occupied by two co-tenants near Highway 280.
Property Size960 SF
Price / SF$250
Days on Market47
Property Features for 244 Inverness Center Drive
General Information
Standard status
Active
Size
960 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
960 SF
Tenancy
Multi
Listing Agency:
Cushman & Wakefield EGS
Listed By:
Nick Vogel
(205) 314-5552
Source:
Egsinc
Added: Sep 2
Changed: Oct 14
Last Checked: Oct 16 at 6:09AM
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 Cushman & Wakefield EGS
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Investment Insights
Based on property information with market context.
This 960 SF office unit is located within a building that includes two co-tenants, providing a professional commercial setting for office use. The property is positioned off Highway 280 at 244 Inverness Center Drive in Birmingham, Alabama.
Key Highlights
- 960 SF office unit
- Located off Highway 280
- Building includes two co‑tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,530
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$230,600
$230.6K
Cap Rate 7%
$164,714
$164.7K
Cap Rate 9%
$128,111
$128.1K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$19.6K $20.40/SF
− Vacancy
−$4.2K −$4.39/SF
EGI
$15.4K $16.01/SF
− OpEx
−$3.8K −$4.00/SF
NOI
$11.5K $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%
$230,600
Cap Rate 7%
$164,714
Cap Rate 9%
$128,111
Alternative Uses
Best Use
Office B
$164.7K
$144.1K – $192.2K
NOI $11,530 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.3K
$197.2K – $262.9K
NOI $15,773 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 35242, AL
57,008
Population
25,247
Households
2.3
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
52.4 sq mi
ZIP Area
1,088
Density / Sq Mi
$116,053
Median Household Income
$59,731
Median Earnings
$1,430
Median Rent
$452,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Birmingham, AL
Frequently Asked Questions
What type of property is this?
Office units - Office space within a shared building occupied by two co-tenants near Highway 280.
Where is this office units located?
The property is located at 244 Inverness Center Drive Birmingham, AL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 960 SF office unit; Located off Highway 280; Building includes two co‑tenants
