Building Details

Year Built 1978

Buildings 2

Tenancy Multi

Building Size 15,244 SF

Listing Agency: IronHorn Enterprises

Listed By: Ryan Jenkins · License #0225268974

Source: Crexi

Added: Aug 21 Changed: Oct 11 Last Checked: Oct 16 at 7:29AM

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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 IronHorn Enterprises

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Investment Insights

Based on property information with market context.

This partially leased warehouse facility contains 15,244 SF on 0.80 acres and was built in 1978. The building offers 16-foot clear heights and six drive-in doors, supporting warehouse, distribution, service, and light industrial operations. Existing occupancy provides an established tenancy profile, while additional space remains available for leasing.

The property is located along the Airport Highway corridor with access to Birmingham-Shuttlesworth International Airport, major highways, and established industrial districts. Its configuration combines substantial warehouse area, ground-level loading access, and a central position within Birmingham’s industrial network.

Key Highlights

• 15,244 SF industrial facility on 0.80 acres
• Partially leased property with available space
• 16‑foot clear heights

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,069

Cap Rate

7.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,401,380 $1.4M

Cap Rate 7%

$1,000,986 $1.0M

Cap Rate 9%

$778,544 $778.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,244 SF

Gross rent

$109.8K $7.20/SF

− Vacancy

−$9.7K −$0.63/SF

EGI

$100.1K $6.57/SF

− OpEx

−$30.0K −$1.97/SF

NOI

$70.1K $4.60/SF

Area

Birmingham, AL

Vacancy

8.80%

Lease Rate

$7.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,401,380

Cap Rate 7%

$1,000,986

Cap Rate 9%

$778,544

Alternative Uses

Best Use

Warehouse

$1.22M

$1.06M – $1.42M (±1% cap)

NOI $85,083 @ 7.0% cap · market cap 9.45%

Second Best

Industrial

$1.00M

$875.9K – $1.17M (±1% cap)

NOI $70,069 @ 7.0% cap · market cap 7.79%

Theoretical Best

Office A

$3.58M

$3.13M – $4.17M (±1% cap)

NOI $250,465 @ 7.0% cap · market cap 27.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Midstate Commercial Tires ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Dental Office Bakery Daycare Center (Bike/Boat/Book/etc) Store Barber Shop Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

6

Drive-in doors

Location Intelligence

Trade Area within ½ mile

854

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 35222, AL

8,419

Population

4,383

Households

1.9

Avg Household Size

37

Median Age

64%

College-Educated

97%

High-School Grad

3.9 sq mi

ZIP Area

2,159

Density / Sq Mi

$91,964

Median Household Income

$61,933

Median Earnings

$1,086

Median Rent

$374,600

Median Home Value

Market

Vacancy Rate% for Industrial in Birmingham, AL

6.5% 2019

5.1% 2020

4.7% 2021

7.3% 2022

13.5% 2023

9.2% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Partially leased warehouse with drive-in access and a flexible industrial configuration.

Where is this warehouse located?

The property is located at 3728 Airport Highway Birmingham, AL.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: 15,244 SF industrial facility on 0.80 acres; Partially leased property with available space; 16‑foot clear heights