Southside Investment or Development
416 24th Street South Birmingham, AL 35233
416 24th Street South, Birmingham, AL, 35233
$1,150,000
For Sale
$1,150,000
Prime location near Work Play and Iron City with established tenant.
Property Size4,922 SF
Lot Size0.48 Acres
Price / SF$233.64
Days on Market134
Property Features for 416 24th Street South
General Information
- Standard status
- Active
- Size
- 4,922 SF
- Lot size
- 0.48 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1984
Listing Agency
(205) 226-8625
Listed by
Bill Gunn, SIOR, CCIM
Source
Jhberry
Added: Mar 5 Checked: Jul 16 at 5:10 am
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 Bill Gunn, SIOR, CCIM
Investment Insights
Based on property information with market context.
This property presents an opportunity for investment or future development in the southside area. The site comprises two parcels, totaling approximately 0.48 acres or 21,000 square feet. Improvements include an existing building of approximately 4,922 square feet, along with a detached warehouse of approximately 864 square feet. An established tenant is currently in place. The property is located in the heart of the southside, one block from Work Play and Iron City, offering convenient access to Red Mountain Expressway and proximity to UAB and St. Vincent's.
Key Highlights
- Prime location in the heart of the southside, one block from Work Play and Iron City.
- Development site potential on a +/- .48 AC (21,000 SF) two‑parcel site.
- Existing +/- 4,922 SF building with an additional +/- 864 SF detached warehouse.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.8k | $15.60 |
| − Vacancy | −$8.1k | −$1.64 |
| EGI | $68.7k | $13.96 |
| − OpEx | −$20.6k | −$4.19 |
| NOI | $48.1k | $9.77 |
4,922 SF · lease $15.60/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$687.2K
$601.3K – $801.8K
NOI $48,105 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,870 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
ATM
Atm
The Quest Club
Nightclub
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Prime location near Work Play and Iron City with established tenant.
Where is this retail space located?
The property is located at 416 24th Street South Birmingham, AL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Prime location in the heart of the southside, one block from Work Play and Iron City.; Development site potential on a +/- .48 AC (21,000 SF) two‑parcel site.; Existing +/- 4,922 SF building with an additional +/- 864 SF detached warehouse.
