Condo Near UAB and
For Sale
$139,000
401 20TH STREET S #119, Birmingham, AL 35233
Condo with modern features, convenient location, and easy access.
Property Size601 SF
Price / SF$231.28
Days on Market433
Property Features for 401 20TH STREET S #119
General Information
Standard status
Active
Size
601 SF
Property subtype
Condominium
Building Details
Year Built
2008
Listing Agency:
Keller Williams Realty Homewood
(205) 531-2747
Listed By:
Brian Kelleher · License #97090
(205) 531-2747
Source:
Kw
Added: Jun 7, 2025
Changed: Jul 6
Last Checked: May 19 at 9:14PM
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 Keller Williams Realty Homewood
Investment Insights
Based on property information with market context.
Bristol Southside is suitable for Birmingham professionals and UAB students. The condo features concrete flooring, granite countertops, and stainless steel appliances. It is located near a pool, restaurants, grocery stores, transportation options, UAB, and Downtown, all within walking distance. This main floor condo offers easy access from its assigned parking space in the parking deck, with no stairs between the two. The property size is 601 square feet.
Key Highlights
- Prime Location: Walking distance to restaurants, grocery stores, transportation, UAB, and Downtown.
- Easy Access: Main floor condo with assigned parking in the deck and no stairs.
- Modern Features: Enjoy concrete flooring, granite countertops, and stainless steel appliances.
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
$4,334
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
3.12%
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%
$86,680
$86.7K
Cap Rate 7%
$61,914
$61.9K
Cap Rate 9%
$48,156
$48.2K
Market Conditions
NOI Build-Up for 601 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
$8.7K $14.52/SF
− Vacancy
−$846 −$1.41/SF
EGI
$7.9K $13.11/SF
− OpEx
−$3.5K −$5.90/SF
NOI
$4.3K $7.21/SF
Area
Birmingham, AL
Vacancy
9.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$86,680
Cap Rate 7%
$61,914
Cap Rate 9%
$48,156
Alternative Uses
Best Use
Apartment 5plus
$61.9K
$54.2K – $72.2K
NOI $4,334 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$141.1K
$123.4K – $164.6K
NOI $9,875 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 35233, AL
2,588
Population
2,710
Households
1
Avg Household Size
27
Median Age
90%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
1,725
Density / Sq Mi
$52,207
Median Household Income
$48,750
Median Earnings
$1,526
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Condo with modern features, convenient location, and easy access.
Where is this apartment building located?
The property is located at 401 20TH STREET S #119 Birmingham, AL.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Prime Location: Walking distance to restaurants, grocery stores, transportation, UAB, and Downtown.; Easy Access: Main floor condo with assigned parking in the deck and no stairs.; Modern Features: Enjoy concrete flooring, granite countertops, and stainless steel appliances.
