Historic Tuscaloosa Building For
For Sale
Contact for pricing
2711 Gary Fitts St, Tuscaloosa, AL 35401
Historic building, credit tenant, renovated, parking, near downtown amenities.
Property Size4,630 SF
Price / SF$259.18
Days on Market758
Property Features for 2711 Gary Fitts St
General Information
Standard status
Active
Size
4,630 SF
Property subtype
Office
Zoning
BGO
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$66,000
Building Details
Year Built
1887
Year Renovated
2023
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Butler Evans Real Estate
Listed By:
Denise Evans · License #AL67727
(205) 310-3799
Source:
Crexi
Added: Sep 21, 2024
Changed: Oct 9
Last Checked: Oct 16 at 9:18AM
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 Butler Evans Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This historic building, unrestricted by historic limitations, stands as a signature property. The building is currently leased to South Oak Title, a regional credit tenant, under a 5-year NNN lease that includes annual rent increases and one 5-year renewal option. The lease commenced on August 23, 2024. The property underwent a complete renovation in 2023, featuring new windows, two new A/C units, a new tankless water heater, and new gas lines. The renovation also included some restored flooring and some new flooring. The metal roof is still under warranty. The property provides generous off-street parking at the rear, accessible via a private alley, along with ample free street parking. A maintenance-free concrete wheelchair ramp is located at the front of the building. The location is within walking distance of the courthouse, dining, entertainment venues, and the financial district. The property size is 4,630 square feet.
Key Highlights
- Leased to South Oak Title, a regional credit tenant, under a 5‑year NNN lease with annual rent increases and a 5‑year renewal option, ensuring stable income.
- Completely renovated in 2023 featuring new windows, two new A/C units, new tankless water heater, new gas lines, restored and new flooring, and a metal roof still under warranty.
- Historic building offering flexibility for future use and modifications, with no historic restrictions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,629
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,072,580
$1.1M
Cap Rate 7%
$766,129
$766.1K
Cap Rate 9%
$595,878
$595.9K
Market Conditions
NOI Build-Up for 4,630 SF
Gross rent
$91.7K $19.80/SF
− Vacancy
−$20.2K −$4.36/SF
EGI
$71.5K $15.44/SF
− OpEx
−$17.9K −$3.86/SF
NOI
$53.6K $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 Rate 5%
$1,072,580
Cap Rate 7%
$766,129
Cap Rate 9%
$595,878
Alternative Uses
Best Use
Office B
$766.1K
$670.4K – $893.8K
NOI $53,629 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$973.6K – $1.30M
NOI $77,884 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
32
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
Frequently Asked Questions
What type of property is this?
Office building - Historic building, credit tenant, renovated, parking, near downtown amenities.
Where is this office building located?
The property is located at 2711 Gary Fitts St Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Leased to South Oak Title, a regional credit tenant, under a 5‑year NNN lease with annual rent increases and a 5‑year renewal option, ensuring stable income.; Completely renovated in 2023 featuring new windows, two new A/C units, new tankless water heater, new gas lines, restored and new flooring, and a metal roof still under warranty.; Historic building offering flexibility for future use and modifications, with no historic restrictions.
