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Building Details

Buildings 1

Building Size 17,603 SF

Listing Agency: Harwood Real Estate LLC

Listed By: Richard Harwood · License #118535018 Show Phone

Source: Advantagerealtygroup

Added: Aug 8 Changed: Oct 15 Last Checked: Oct 12 at 5:06PM

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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 flex-space property combines office and warehouse components in a configuration designed for varied business operations. Interior areas can accommodate offices, meeting rooms, and collaborative work areas, while separate open warehouse space supports storage and operational needs. Loading dock access adds functionality for receiving and handling materials.

The property is located in Downtown Tuscaloosa at 912 29th Avenue #3A. On-site parking is available, complementing the building’s combination of professional workspace and warehouse capacity.

Key Highlights

• Office and warehouse components within one flex‑space property
• Open warehouse area with loading dock access
• Interior configuration includes offices, meeting areas, and collaborative workspace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$193,471

Cap Rate

7.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,869,420 $3.9M

Cap Rate 7%

$2,763,871 $2.8M

Cap Rate 9%

$2,149,678 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,703 SF

Gross rent

$330.7K $19.80/SF

− Vacancy

−$72.8K −$4.36/SF

EGI

$258.0K $15.44/SF

− OpEx

−$64.5K −$3.86/SF

NOI

$193.5K $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%

$3,869,420

Cap Rate 7%

$2,763,871

Cap Rate 9%

$2,149,678

Alternative Uses

Best Use

Office B

$2.76M

$2.42M – $3.22M (±1% cap)

NOI $193,471 @ 7.0% cap · market cap 7.90%

Second Best

Flex RnD

$1.85M

$1.62M – $2.15M (±1% cap)

NOI $129,274 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$4.01M

$3.51M – $4.68M (±1% cap)

NOI $280,971 @ 7.0% cap · market cap 11.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Storage Center Storage Facility WeConnect International Warehouse & Storage Air-Tek of Tuscaloosa LLC HVAC Service

Suggested Use

Top Pick Dental Office Electrical Service Storage Facility Locksmith Pharmacy Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,348

Businesses Nearby

Balanced

Demand for This Use

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Brick Office Building

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Similar Off Market Nearby

• Stillman College Dining Services — 3601 Stillman Blvd, Tuscaloosa, AL 35401
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• Cleaver & Clove — studio inside Sweetthang’s Bakery, 305 21st Ave Suite C2, Tuscaloosa, AL 35401

Frequently Asked Questions

What type of property is this?

Flex space - Versatile office and warehouse configuration supports administrative and professional business functions.

Where is this flex space located?

The property is located at 912 29th Avenue #3A Tuscaloosa, AL.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: Office and warehouse components within one flex‑space property; Open warehouse area with loading dock access; Interior configuration includes offices, meeting areas, and collaborative workspace