Flex Space with Loading
New
For Sale
$2,450,000
3a-912 29th Ave, Tuscaloosa, AL 35404
Combined office and warehouse areas accommodate administrative work, meetings, collaboration, and loading operations.
Property Size17,603 SF
Price / SF$146.68
Days on Market7
Property Features for 3a-912 29th Ave
General Information
Standard status
Active
Size
17,603 SF
Taxes and HOA fees
Annual Taxes
$9,072
Building Details
Building Size
17,603 SF
Listing Agency:
Harwood Real Estate LLC
(205) 799-2210
Listed By:
Richard Harwood
(205) 799-2210
Source:
Exprealty
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 3:05AM
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 Harwood Real Estate LLC
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse components in a versatile commercial layout. Interior areas can support administrative functions, professional work, meetings, and collaborative activity, while the open warehouse area provides direct access to loading docks. The configuration offers both finished office space and functional operational space within one building.
Located at 3a-912 29th Ave in downtown Tuscaloosa, Alabama, the property includes ample parking. Its combination of office areas, open warehouse space, and dock access provides a practical setting for businesses requiring both workplace and loading functions.
Located at 3a-912 29th Ave in downtown Tuscaloosa, Alabama, the property includes ample parking. Its combination of office areas, open warehouse space, and dock access provides a practical setting for businesses requiring both workplace and loading functions.
Key Highlights
- Flex property with office and open warehouse areas
- Loading dock access from the warehouse space
- Layout includes offices, meeting areas, and collaborative workspace
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
$193,471
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
7.90%
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%
$3,869,420
$3.9M
Cap Rate 7%
$2,763,871
$2.8M
Cap Rate 9%
$2,149,678
$2.1M
Market Conditions
NOI Build-Up for 16,703 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
$330.7K $19.80/SF
− Vacancy
−$72.8K −$4.36/SF
EGI
$258.0K $15.44/SF
− OpEx
−$64.5K −$3.86/SF
NOI
$193.5K $11.58/SF
Area
Tuscaloosa, AL
Vacancy
22.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,869,420
Cap Rate 7%
$2,763,871
Cap Rate 9%
$2,149,678
Alternative Uses
Best Use
Office B
$2.76M
$2.42M – $3.22M
NOI $193,471 @ 7.0% cap · market cap 7.90%
Second Best
Flex RnD
$1.85M
$1.62M – $2.15M
NOI $129,274 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,971 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35404, AL
20,982
Population
11,427
Households
1.8
Avg Household Size
30
Median Age
27%
College-Educated
89%
High-School Grad
16.6 sq mi
ZIP Area
1,264
Density / Sq Mi
$45,521
Median Household Income
$25,035
Median Earnings
$986
Median Rent
$175,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office and warehouse areas accommodate administrative work, meetings, collaboration, and loading operations.
Where is this flex space located?
The property is located at 3a-912 29th Ave Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Flex property with office and open warehouse areas; Loading dock access from the warehouse space; Layout includes offices, meeting areas, and collaborative workspace
