1031 Exchange
For Sale
$579,000
2531 University Boulevard, Tuscaloosa, AL 35401
CommercialSale, Tuscaloosa, AL
Property Size1,750 SF
Lot Size0.05 Acres
Price / SF$330.86
Days on Market239
Property Features for 2531 University Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Directions
Downtown Rock Point building on University Boulevard between the two Lurleen Wallace Boulevards across from Renesant Bank
Subdivision
(02) Central Tuscaloosa City
Standard status
Active
APN
31-05-22-2-209-014.000
Size
1,750 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
Unit 3 &4 In Downtown Rock Point Condominium
Tax Annual Amount
4892
HOA Fee
$600 Monthly
Legal Description
Unit 3 &4 In Downtown Rock Point Condominium
Utilities
Heating system
Electric (Heating), Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
2025
Number of units
2
Flooring type
Concrete, Tile
Building materials
Brick
Listing Agency:
Keller Williams Tuscaloosa · Keller Williams Realty
(205) 759-3400
Listed By:
Lee Foster · License #118528280
(205) 657-1997
Added: Feb 18
Changed: Oct 15
Last Checked: Oct 15 at 11:06PM
MLS# 173416
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,750-square-foot property at 2531 University Boulevard is constructed with brick and has tile and concrete flooring. Central air conditioning and central heating are installed, with natural gas and electric heat sources listed. The site contains 0.05 acres.
The property is in downtown Tuscaloosa. A national retail tenant occupies the building under a five-year lease and is in its second year. The lease provides for a 10% increase at renewal. The stated cap rate is 5.69%.
The property is in downtown Tuscaloosa. A national retail tenant occupies the building under a five-year lease and is in its second year. The lease provides for a 10% increase at renewal. The stated cap rate is 5.69%.
Key Highlights
- 1,750 square feet on a 0.05‑acre site
- National retail tenant in year two of a five‑year lease
- Lease includes a 10% increase at renewal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,652
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,040
$393.0K
Cap Rate 7%
$280,743
$280.7K
Cap Rate 9%
$218,356
$218.4K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$30.4K $17.40/SF
− Vacancy
−$2.4K −$1.36/SF
EGI
$28.1K $16.04/SF
− OpEx
−$8.4K −$4.81/SF
NOI
$19.7K $11.23/SF
Area
Tuscaloosa, AL
Vacancy
7.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,040
Cap Rate 7%
$280,743
Cap Rate 9%
$218,356
Alternative Uses
Best Use
Retail
$280.7K
$245.7K – $327.5K
NOI $19,652 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$420.5K
$368.0K – $490.6K
NOI $29,438 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,690
Businesses Nearby
132k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Hotels & Casinos 14%
Shops & Services 14%
Half Shell Oyster House
Dining
15,296 visits/mo
0.2 miles
Hardee's
Dining
13,763 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,381 visits/mo
0.3 miles
Burger King
Dining
12,540 visits/mo
0.4 miles
Taco Bell
Dining
12,264 visits/mo
0.3 miles
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
1031 exchange property - A national retail occupant is in year two of a five-year lease.
Where is this 1031 exchange property located?
The property is located at 2531 University Boulevard Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 1,750 square feet on a 0.05‑acre site; National retail tenant in year two of a five‑year lease; Lease includes a 10% increase at renewal
