Mixed-Use Property For
For Sale
Contact for pricing
Pending
1820 Southpark Dr, Birmingham, AL 35244
Mixed-use property featuring retail and office spaces, totaling 10,607 square feet.
Property Size10,607 SF
Days on Market1435
Property Features for 1820 Southpark Dr
General Information
Standard status
Pending
Size
10,607 SF
Class
A
Property subtype
Retail, Office, Mixed Use
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$113,712
Building Details
Year Built
1997
Year Renovated
2018
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
HSC Commercial Properties
Listed By:
Sorrell Chew · License #AL
Source:
Crexi
Added: Sep 21, 2022
Changed: Aug 24
Last Checked: Aug 24 at 9:16AM
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 HSC Commercial Properties
Investment Insights
Based on property information with market context.
This mixed-use property, available for sale, encompasses a total area of 10,607 square feet. The property is suitable for commercial real estate purposes, including retail and office spaces.
Key Highlights
- Built in 1997
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
$127,395
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
7.28%
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%
$2,547,900
$2.5M
Cap Rate 7%
$1,819,929
$1.8M
Cap Rate 9%
$1,415,500
$1.4M
Market Conditions
NOI Build-Up for 10,607 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
$216.4K $20.40/SF
− Vacancy
−$46.5K −$4.39/SF
EGI
$169.9K $16.01/SF
− OpEx
−$42.5K −$4.00/SF
NOI
$127.4K $12.01/SF
Area
Birmingham, AL
Vacancy
21.50%
Lease Rate
$20.40 /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%
$2,547,900
Cap Rate 7%
$1,819,929
Cap Rate 9%
$1,415,500
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,395 @ 7.0% cap · market cap 7.28%
Second Best
Mixed Use
$1.76M
$1.54M – $2.05M
NOI $123,147 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,277 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 35244, AL
37,448
Population
15,189
Households
2.5
Avg Household Size
39
Median Age
60%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,567
Density / Sq Mi
$114,172
Median Household Income
$61,660
Median Earnings
$1,413
Median Rent
$390,900
Median Home Value
Market
Vacancy Rate% for Office in Birmingham, AL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring retail and office spaces, totaling 10,607 square feet.
Where is this mixed-use property located?
The property is located at 1820 Southpark Dr Birmingham, AL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Built in 1997
