Storefront Retail Building with Outdoor
For Sale
Contact for pricing
901 & 903 Broadway St, Birmingham, AL 35209
Contiguous retail building with storefront glazing, outdoor seating, updated awnings, and rear access for parking, service, and deliveries.
Property Size4,422 SF
Price / SF$146.99
Days on Market136
Property Features for 901 & 903 Broadway St
General Information
Standard status
Active
Size
4,422 SF
Class
C
Property subtype
Retail
Zoning
C-2 Neighborhood Shopping
Occupancy
80%
Lease Type
Modified Gross
Amenities
outdoor seating areas
updated awnings
rear access for parking, service, and deliveries
Building Details
Year Built
1968
Year Renovated
2025
Buildings
2
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Aegis Commercial Real Estate LLC
Listed By:
Jared Dison · License #AL 000110309
Source:
Crexi
Added: Apr 17
Changed: Aug 29
Last Checked: Aug 29 at 5:46PM
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 Aegis Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
The offering comprises two parcels improved with one contiguous storefront building totaling 4,422 square feet. The property includes large storefront glass, outdoor seating areas, updated awnings, and rear access supporting parking, service activity, and deliveries. Built in 1968, the building is zoned C-2 Neighborhood Shopping.
The property is located at 901 & 903 Broadway St in Birmingham, within the Broadway corridor. Established neighborhood businesses and surrounding single-family homes provide the immediate commercial and residential context. The building has accommodated commercial uses including dry cleaning, according to the seller.
The property is located at 901 & 903 Broadway St in Birmingham, within the Broadway corridor. Established neighborhood businesses and surrounding single-family homes provide the immediate commercial and residential context. The building has accommodated commercial uses including dry cleaning, according to the seller.
Key Highlights
- 4,422‑square‑foot contiguous storefront building on two parcels
- Storefront glass, outdoor seating areas, and updated awnings
- Rear access for parking, service, and deliveries
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
$43,218
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
6.65%
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%
$864,360
$864.4K
Cap Rate 7%
$617,400
$617.4K
Cap Rate 9%
$480,200
$480.2K
Market Conditions
NOI Build-Up for 4,422 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
$69.0K $15.60/SF
− Vacancy
−$7.2K −$1.64/SF
EGI
$61.7K $13.96/SF
− OpEx
−$18.5K −$4.19/SF
NOI
$43.2K $9.77/SF
Area
Birmingham, AL
Vacancy
10.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$864,360
Cap Rate 7%
$617,400
Cap Rate 9%
$480,200
Alternative Uses
Best Use
Retail
$617.4K
$540.2K – $720.3K
NOI $43,218 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$908.2K – $1.21M
NOI $72,655 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35209, AL
27,827
Population
15,141
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
93%
High-School Grad
9.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$72,383
Median Household Income
$45,513
Median Earnings
$1,246
Median Rent
$465,600
Median Home Value
Market
Vacancy Rate% for Retail in Birmingham, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Contiguous retail building with storefront glazing, outdoor seating, updated awnings, and rear access for parking, service, and deliveries.
Where is this storefront property located?
The property is located at 901 & 903 Broadway St Birmingham, AL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,422‑square‑foot contiguous storefront building on two parcels; Storefront glass, outdoor seating areas, and updated awnings; Rear access for parking, service, and deliveries
