Office/Industrial Property Near
912 29th Avenue, Tuscaloosa, AL 35401
For Sale
Contact for pricing
Pending
Office and warehouse space with fenced yard and loading dock.
Property Size46,287 SF
Days on Market784
Property Features for 912 29th Avenue
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Stories
Listing Agency:
Harwood Real Estate, LLC
Listed By:
Neal DiChiara
(205) 292-1346
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
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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 / Yr
$280,425
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,348
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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
