Flex Facility with Drive-In
For Sale
Contact for pricing
511 11th Street North, Birmingham, AL 35203
Three connected buildings combine renovated offices with adaptable industrial space and three-phase power.
Property Size21,000 SF
Price / SF$80
Days on Market176
Property Features for 511 11th Street North
General Information
Standard status
Active
Size
21,000 SF
Property subtype
Office, Industrial
Zoning
M1
Net Operating Income
$25,800
Site & Location
Neighborhood
Rising - West Princeton
Building Details
Year Built
1945
Year Renovated
2023
Buildings
3
Tenancy
Multi
Listing Agency:
Colliers - Birmingham, Alabama
Listed By:
Brian Savage · License #AL 99092 MS 23992 Phone #: 205-445-0955
(205) 949-2704
Source:
Crexi
Added: May 7
Changed: Oct 25
Last Checked: Oct 28 at 6:40AM
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 Colliers - Birmingham, Alabama
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Investment Insights
Based on property information with market context.
This flex property comprises approximately 21,000 SF across three interconnected buildings. The facility combines office and warehouse areas, with drive-in doors, updated LED lighting, and 3-phase power. Renovated office space includes views toward downtown Birmingham, while a fenced lot beside the buildings adds secured outdoor area.
Located in Birmingham’s CBD and designated within an Opportunity Zone, the property has visibility from I-65 and access to major interstate routes. Its setting also places it near the city’s entertainment and business districts. The address is 511 11th St N, Birmingham, AL 35203.
Located in Birmingham’s CBD and designated within an Opportunity Zone, the property has visibility from I-65 and access to major interstate routes. Its setting also places it near the city’s entertainment and business districts. The address is 511 11th St N, Birmingham, AL 35203.
Key Highlights
- ±21,000 SF flex office/warehouse facility
- Three interconnected buildings with office and warehouse areas
- Multiple drive‑in doors for facility access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,210
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,344,200
$2.3M
Cap Rate 7%
$1,674,429
$1.7M
Cap Rate 9%
$1,302,333
$1.3M
Market Conditions
NOI Build-Up for 21,000 SF
Gross rent
$151.2K $7.20/SF
− Vacancy
−$13.3K −$0.63/SF
EGI
$137.9K $6.57/SF
− OpEx
−$20.7K −$0.98/SF
NOI
$117.2K $5.58/SF
Area
Birmingham, AL
Vacancy
8.80%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,344,200
Cap Rate 7%
$1,674,429
Cap Rate 9%
$1,302,333
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $252,220 @ 7.0% cap · market cap 15.01%
Second Best
Flex RnD
$2.92M
$2.55M – $3.40M
NOI $204,095 @ 7.0% cap · market cap 12.15%
Theoretical Best
Office A
$4.93M
$4.31M – $5.75M
NOI $345,038 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 35203, AL
3,595
Population
2,114
Households
1.7
Avg Household Size
37
Median Age
41%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
1,712
Density / Sq Mi
$46,829
Median Household Income
$51,183
Median Earnings
$954
Median Rent
$288,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Birmingham, AL
Similar Off Market Nearby
- Treated By Tia — 1629 Lomb Ave, Birmingham, AL 35208
Frequently Asked Questions
What type of property is this?
Flex space - Three connected buildings combine renovated offices with adaptable industrial space and three-phase power.
Where is this flex space located?
The property is located at 511 11th Street North Birmingham, AL.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: ±21,000 SF flex office/warehouse facility; Three interconnected buildings with office and warehouse areas; Multiple drive‑in doors for facility access
