Industrial Warehouse with Drive-In
For Sale
Contact for pricing
3728 Airport Highway, Birmingham, AL 35222
Partially leased warehouse with drive-in access and a flexible industrial configuration.
Property Size15,244 SF
Lot Size0.80 Acres
Price / SF$59.04
Days on Market13
Property Features for 3728 Airport Highway
General Information
Standard status
Active
Size
15,244 SF
Lot size
0.80 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
6
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: Aug 31
Last Checked: Sep 1 at 7:33AM
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
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.
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 = 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
$70,069
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
7.79%
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%
$1,401,380
$1.4M
Cap Rate 7%
$1,000,986
$1.0M
Cap Rate 9%
$778,544
$778.5K
Market Conditions
NOI Build-Up for 15,244 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
$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 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%
$1,401,380
Cap Rate 7%
$1,000,986
Cap Rate 9%
$778,544
Alternative Uses
Best Use
Warehouse
$1.22M
$1.06M – $1.42M
NOI $85,083 @ 7.0% cap · market cap 9.45%
Second Best
Industrial
$1.00M
$875.9K – $1.17M
NOI $70,069 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,465 @ 7.0% cap · market cap 27.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
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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
