Fully Leased Retail
For Sale
Contact for pricing
2911 7th Avenue South, Birmingham, AL 35233
Fully leased retail building with renovation opportunity and 23 parking spaces in Lakeview.
Property Size10,000 SF
Price / SF$160
Days on Market59
Property Features for 2911 7th Avenue South
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
23
Property subtype
Retail, Hospitality, Mixed Use
Zoning
MIXED USE HIGH
Occupancy
100%
Lease Type
Net
Investment Type
Owner/User
Building Details
Year Built
1960
Year Renovated
1974
Buildings
1
Stories
1
Units
23
Tenancy
Multi
Listing Agency:
Century 21 Advantage Birmingham
(205) 965-7733
Listed By:
daphney massey · License #000082245
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 7 at 8:51AM
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 Century 21 Advantage Birmingham
Investment Insights
Based on property information with market context.
This 10,000 SF retail building is currently fully leased through January 2027, providing an occupied setup for the next lease term. The property also presents a renovation opportunity for a new owner, with the existing building offering a platform for updates and repositioning. Off-site tenant convenience is supported by 23 parking spaces.
Located in Lakeview, the building is positioned for walk-in and short-trip retail activity. Parking on site helps accommodate customers visiting the storefront rather than relying solely on street parking. The combination of retail use and available parking supports everyday retail operations.
For buyers, the property offers a stabilized configuration with in-place occupancy through January 2027, while still allowing flexibility to plan improvements. Tenants considering space in a well-parked retail building may find the setup practical for customer access. The renovation opportunity can be aligned with future leasing or brand standards, depending on how the buyer intends to manage the asset after the current term.
Located in Lakeview, the building is positioned for walk-in and short-trip retail activity. Parking on site helps accommodate customers visiting the storefront rather than relying solely on street parking. The combination of retail use and available parking supports everyday retail operations.
For buyers, the property offers a stabilized configuration with in-place occupancy through January 2027, while still allowing flexibility to plan improvements. Tenants considering space in a well-parked retail building may find the setup practical for customer access. The renovation opportunity can be aligned with future leasing or brand standards, depending on how the buyer intends to manage the asset after the current term.
Key Highlights
- 10,000 SF retail building in Lakeview
- Fully leased through Jan 2027
- 23 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$97,734
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,954,680
$2.0M
Cap Rate 7%
$1,396,200
$1.4M
Cap Rate 9%
$1,085,933
$1.1M
Market Conditions
NOI Build-Up for 10,000 SF
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.
Gross rent
$156.0K $15.60/SF
− Vacancy
−$16.4K −$1.64/SF
EGI
$139.6K $13.96/SF
− OpEx
−$41.9K −$4.19/SF
NOI
$97.7K $9.77/SF
Area
Birmingham, AL
Vacancy
10.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,954,680
Cap Rate 7%
$1,396,200
Cap Rate 9%
$1,085,933
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,734 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,304 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 35233, AL
2,588
Population
2,710
Households
1
Avg Household Size
27
Median Age
90%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
1,725
Density / Sq Mi
$52,207
Median Household Income
$48,750
Median Earnings
$1,526
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Retail in Birmingham, AL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail building with renovation opportunity and 23 parking spaces in Lakeview.
Where is this retail space located?
The property is located at 2911 7th Avenue South Birmingham, AL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 10,000 SF retail building in Lakeview; Fully leased through Jan 2027; 23 parking spaces
