Center Point Shopping Center, located at 1671 Center Point Parkway in Birmingham, Alabama (zip code 35215), offers a diverse range of retail, office, and restaurant spaces within a 148,275 square foot Class B building. The property is situated at a signalized intersection with multiple access points on Center Point Parkway and Polly Reed Road, providing excellent visibility and brand exposure. Seven spaces are currently available, ranging from a minimum of 1,400 square feet to a maximum contiguous space of 24,000 square feet. The center boasts a strong tenant mix, including a Food Giant grocery store anchor, along with Heaven Cent Thrift, Oak Street Health, Covington Credit, the Beauty Supply Store, Wing It restaurant, and B&W Steak & Seafood Restaurant. The property benefits from high daily traffic counts, averaging 33,000 vehicles. Its strategic location within an established commercial corridor is further enhanced by the proximity of numerous chain restaurants (Applebee's, Da Sandwich Shop, KFC, McDonald's), churches (Cathedral of the Cross AOH Church of God, Good Samaritan Baptist Church, First Baptist Church), Huffman High School, Jefferson State Community College, and several apartment complexes and residential neighborhoods. Within a five-mile radius, the area comprises nearly 88,000 residents and 35,000 daytime employees, generating a consumer spending total of $769 million. Demographic data within one, three, and five-mile radii shows population figures of 9,796, 57,870, and 95,830 respectively, with corresponding average household incomes of $68,577, $82,163, and $89,454, and household counts of 3,685, 21,981, and 36,797. Jefferson County is the location of this property.
Property Features for 1671 Center Point Pkwy
General Information
Property type
Restaurants
Lease Type
Gross Lease
RSF (Rentable sq. ft)
148,275 SF
Class
B
Total Rate
111206.25
Unit(s) available at that property
Space
Suite 8/9
Size
2,800 SF
Rate per SF
$13
Space
Suite 11
Size
1,200 SF
Rate per SF
$15
Space
Suite 6/7
Size
7,200 SF
Rate per SF
$9
Space
Suite 2
Size
3,000 SF
Rate per SF
$14
Space
Suite 3
Size
3,000 SF
Rate per SF
$14
Space
Suite 14
Size
1,400 SF
Rate per SF
$14
Space
Suite 15
Size
1,400 SF
Rate per SF
$15
HighLights
148,275 square foot shopping center.
Strong tenant base including Food Giant, Heaven Cent Thrift, Metro PCS, and B&W Steak and Seafood (outparcel).
Excellent Center Point Parkway accessibility.
Prime location within a thriving retail trade area.
Restaurant - Grocery-anchored center, 7 spaces available.
Where is this restaurant located?
The property is located at 1671 Center Point Pkwy Birmingham, AL.
What is the lease rate?
The lease rate is $9-$15 SF/Yr.
What are key features of this property?
This property features: 148,275 square foot shopping center.; Strong tenant base including Food Giant, Heaven Cent Thrift, Metro PCS, and B&W Steak and Seafood (outparcel).; Excellent Center Point Parkway accessibility.
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1671 Center Point Pkwy Birmingham, AL 35215
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
1671 Center Point Pkwy Birmingham, AL 35215
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1671 Center Point Pkwy, Birmingham, AL
Bill Clements
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1671 Center Point Pkwy, Birmingham, AL
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