Office Unit For
For Sale
Contact for pricing
3055 Lorna Rd, Birmingham, AL 35216
Office unit with 3,485 square feet of space.
Property Size3,485 SF
Price / SF$387.37
Days on Market218
Property Features for 3055 Lorna Rd
General Information
Standard status
Active
Size
3,485 SF
Property subtype
Office
Listing Agency:
JH Berry
Listed By:
Christopher Thames · License #AL 000071659
Source:
Crexi
Added: Mar 13
Changed: Oct 9
Last Checked: Oct 14 at 11:31PM
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 JH Berry
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Investment Insights
Based on property information with market context.
This commercial real estate offering features an office unit with a total area of 3,485 square feet. The property is located on Lorna Road in Birmingham, Alabama.
Key Highlights
- Office Property
- 3,485 SqFt
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,857
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,140
$837.1K
Cap Rate 7%
$597,957
$598.0K
Cap Rate 9%
$465,078
$465.1K
Market Conditions
NOI Build-Up for 3,485 SF
Gross rent
$71.1K $20.40/SF
− Vacancy
−$15.3K −$4.39/SF
EGI
$55.8K $16.01/SF
− OpEx
−$14.0K −$4.00/SF
NOI
$41.9K $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%
$837,140
Cap Rate 7%
$597,957
Cap Rate 9%
$465,078
Alternative Uses
Best Use
Office B
$598.0K
$523.2K – $697.6K
NOI $41,857 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$818.0K
$715.8K – $954.3K
NOI $57,260 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 35216, AL
36,673
Population
16,333
Households
2.2
Avg Household Size
35
Median Age
53%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
2,821
Density / Sq Mi
$73,125
Median Household Income
$42,767
Median Earnings
$1,314
Median Rent
$376,200
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 unit with 3,485 square feet of space.
Where is this office units located?
The property is located at 3055 Lorna Rd Birmingham, AL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Office Property; 3,485 SqFt
