Flex Space with Loading
New
For Sale
$2,450,000
912 29th Avenue, Tuscaloosa, AL 35401
SINGLE_FAMILY - Tuscaloosa, AL
Property Size17,603 SF
Lot Size1.20 Acres
Price / SF$146.68
Days on Market2
Property Features for 912 29th Avenue
General Information
Property type
Residential
Property subtype
Office
Directions
Take 1-359/Highway 69 North toward downtown Tuscaloosa, continue on Lurleen B. Wallace Blvd. and turn right onto University Blvd. Continue east, then turn left onto 29th Avenue.
Subdivision
(02) Central Tuscaloosa City
Standard status
Active
APN
31-05-22-3-024-013.000
Size
16,703 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Description
Lot 1 Res Lots 334-339 Orig City
Tax Annual Amount
9073
HOA Fee
$500 Annually
Legal Description
Lot 1 Res Lots 334-339 Orig City
Amenities
loading docks
Building Details
Number of units
1
Listing Agency:
Harwood Real Estate LLC
(205) 764-1637
Listed By:
Richard Harwood
(205) 799-2210
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 10:06AM
MLS# 176599
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space combines office and warehouse components within a versatile commercial building. The layout includes offices, meeting areas, collaborative workspace, and open warehouse space, with loading dock access supporting operational needs. The property measures 16,703 square feet on 1.2 acres, although the source also reports a different building size that has been omitted due to the discrepancy.
Located in downtown Tuscaloosa at 912 29th Avenue, the property offers a central setting for corporate, administrative, and professional functions. Ample parking is also provided on site.
Located in downtown Tuscaloosa at 912 29th Avenue, the property offers a central setting for corporate, administrative, and professional functions. Ample parking is also provided on site.
Key Highlights
- 16,703 square feet on 1.2 acres
- Open warehouse area with loading dock access
- Office, meeting, and collaborative work areas
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
$193,471
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
7.90%
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%
$3,869,420
$3.9M
Cap Rate 7%
$2,763,871
$2.8M
Cap Rate 9%
$2,149,678
$2.1M
Market Conditions
NOI Build-Up for 16,703 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
$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 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%
$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
NOI $193,471 @ 7.0% cap · market cap 7.90%
Second Best
Flex RnD
$1.85M
$1.62M – $2.15M
NOI $129,274 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,971 @ 7.0% cap · market cap 11.47%
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
Under-served
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile office and warehouse configuration suited to administrative and professional operations.
Where is this flex space located?
The property is located at 912 29th Avenue 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: 16,703 square feet on 1.2 acres; Open warehouse area with loading dock access; Office, meeting, and collaborative work areas
