Freestanding Office
For Sale
$350,000
363 Canyon Park Dr, Pelham, AL 35124
Move-in-ready professional office with masonry construction, a single-tenant layout, and surface parking.
Property Size1,968 SF
Days on Market48
Property Features for 363 Canyon Park Dr
General Information
Standard status
Active
Size
1,968 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,968 SF
Year Built
1996
Listed By:
Giuliana Russo · License #AL #128104
(205) 721-0077
Source:
Chasecommercial
Added: Sep 1
Changed: Oct 7
Last Checked: Oct 16 at 8:05AM
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 Giuliana Russo
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Investment Insights
Based on property information with market context.
This freestanding office building contains approximately 2,693 SF in a single-tenant configuration. The move-in-ready professional office is built with masonry construction and sits on an approximately 0.21-acre site. Four surface parking spaces are included, supporting an owner-user configuration.
The property is located at 363 Canyon Park Dr in Pelham, Alabama, near Pelham Parkway and First Alabama Bank Road NE. Nearby Pelham Parkway carries approximately 35,996 VPD, and the property offers access within the Pelham/Birmingham market.
The property is located at 363 Canyon Park Dr in Pelham, Alabama, near Pelham Parkway and First Alabama Bank Road NE. Nearby Pelham Parkway carries approximately 35,996 VPD, and the property offers access within the Pelham/Birmingham market.
Key Highlights
- Approximately 2,693 SF freestanding office building
- Single‑tenant configuration suited to an owner‑user
- Approximately 0.21‑acre site with four surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,723
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$414,460
$414.5K
Cap Rate 7%
$296,043
$296.0K
Cap Rate 9%
$230,256
$230.3K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$35.4K $18.00/SF
− Vacancy
−$7.8K −$3.96/SF
EGI
$27.6K $14.04/SF
− OpEx
−$6.9K −$3.51/SF
NOI
$20.7K $10.53/SF
Area
Shelby County, AL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$414,460
Cap Rate 7%
$296,043
Cap Rate 9%
$230,256
Alternative Uses
Best Use
Office B
$296.0K
$259.0K – $345.4K
NOI $20,723 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$461.9K
$404.2K – $538.9K
NOI $32,335 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 35124, AL
25,667
Population
10,207
Households
2.5
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
42.6 sq mi
ZIP Area
603
Density / Sq Mi
$91,513
Median Household Income
$50,970
Median Earnings
$1,575
Median Rent
$282,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Move-in-ready professional office with masonry construction, a single-tenant layout, and surface parking.
Where is this office building located?
The property is located at 363 Canyon Park Dr Pelham, AL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Approximately 2,693 SF freestanding office building; Single‑tenant configuration suited to an owner‑user; Approximately 0.21‑acre site with four surface parking spaces
