Commercial Lot in
251 S 1st Street Lot 9 Alabaster, AL 35007
251 S 1st Street Lot 9, Alabaster, AL, 35007
$195,000
For Sale
$195,000
Commercial lot suitable for retail, medical, or restaurant use.
Property Size1,694 SF
Price / SF$115.11
Days on Market283
Property Features for 251 S 1st Street Lot 9
General Information
- Standard status
- Active
- Size
- 1,694 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1920
Listing Agency
RealtySouth-Inverness Office
(205) 222-4629
Listed by
Judy Beaton · License #5600-1
(205) 222-4629
Source
Exitrealty
Added: Oct 8, 2025 Checked: Jul 17 at 5:04 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 commercial property, identified as Lot 9, presents an opportunity for development. The existing building requires modifications to comply with zoning requirements due to its proximity to the road, or a new building can be constructed. The adjacent property, Lot 10, is also available and listed separately for $160,000. The property is ideally suited for retail, medical, or restaurant use. According to tax records, the property is classified as Mixed Retail, but it is designated as a Commercial Property type. The parcel has a size of 1694 square feet.
Key Highlights
- Perfect location for retail, medical, or restaurant businesses.
- Commercial property type.
- Deep parcel.
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 | $30.5k | $18.00 |
| − Vacancy | −$6.7k | −$3.96 |
| EGI | $23.8k | $14.04 |
| − OpEx | −$5.9k | −$3.51 |
| NOI | $17.8k | $10.53 |
1,694 SF · lease $18.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$261.9K
$229.2K – $305.6K
NOI $18,333 @ 7.0% cap · market cap 9.40%
Second Best
Office B
$254.8K
$223.0K – $297.3K
NOI $17,838 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$397.6K
$347.9K – $463.9K
NOI $27,833 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Commercial lot suitable for retail, medical, or restaurant use.
Where is this commercial land located?
The property is located at 251 S 1st Street Lot 9 Alabaster, AL.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Perfect location for retail, medical, or restaurant businesses.; Commercial property type.; Deep parcel.
