Office/Industrial Property Near
For Sale
Contact for pricing
Pending
912 29th Avenue, Tuscaloosa, AL 35401
Office and warehouse space with fenced yard and loading dock.
Property Size46,287 SF
Days on Market691
Property Features for 912 29th Avenue
General Information
Standard status
Pending
Size
46,287 SF
Property subtype
Industrial, Mixed Use, Office
Zoning
MG-General Industry District
Building Details
Stories
1
Listing Agency:
Harwood Real Estate, LLC
(205) 764-1637
Listed By:
Neal DiChiara · License #AL
Source:
Crexi
Added: Sep 17, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:05AM
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 mixed-use property features both office and industrial space near downtown. The office component comprises approximately 9,000 square feet, including offices, a kitchen, and open work areas. The warehouse space, measuring 14,000 square feet, includes rack systems. The property also features fenced yard areas, loading dock access, and multiple access points to the warehouse. The property size is 46,287 square feet.
Key Highlights
- Close proximity to Downtown
- Large warehouse space, approximately 14,000 sf
- Approximately 9,000 sf of office space
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
$280,425
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
7.59%
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%
$5,608,500
$5.6M
Cap Rate 7%
$4,006,071
$4.0M
Cap Rate 9%
$3,115,833
$3.1M
Market Conditions
NOI Build-Up for 46,287 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
$344.4K $7.44/SF
− Vacancy
−$14.5K −$0.31/SF
EGI
$329.9K $7.13/SF
− OpEx
−$49.5K −$1.07/SF
NOI
$280.4K $6.06/SF
Area
Tuscaloosa, AL
Vacancy
4.20%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$5,608,500
Cap Rate 7%
$4,006,071
Cap Rate 9%
$3,115,833
Alternative Uses
Best Use
Mixed Use
$7.85M
$6.87M – $9.16M
NOI $549,803 @ 7.0% cap · market cap 14.88%
Second Best
Office B
$7.66M
$6.70M – $8.94M
NOI $536,142 @ 7.0% cap · market cap 14.51%
Theoretical Best
Office A
$11.12M
$9.73M – $12.98M
NOI $778,621 @ 7.0% cap · market cap 21.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
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?
Mixed-use property - Office and warehouse space with fenced yard and loading dock.
Where is this mixed-use property located?
The property is located at 912 29th Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: Close proximity to Downtown; Large warehouse space, approximately 14,000 sf; Approximately 9,000 sf of office space
