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    1816 1St Ave Irondale, AL 35210

    Sponsored
    For Sale
    $3,750,000

    Downtown Birmingham mixed-use gem. High-growth potential.

    Property size:
    40,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity presents the Spencer Building, a three-story, 40,000 square foot mixed-use property located at 1816 First Avenue North in Irondale, Alabama (zip code 35210), within Jefferson County. Built in 1920, this prime location offers unparalleled access to Birmingham's vibrant downtown core. The property is situated adjacent to the Pizitz Residences and Food Hall, and the McWane Science Center, and within one to two blocks of the Elyton Hotel, Fairfield Inn & Suites, Shipt Headquarters, Lyric Theatre, Alabama Theatre, Railroad Park, and Innovation Depot. The building features a rear loading dock, a new roof installed in 2020, two parking spaces, and two elevators. Currently zoned B4, the property boasts existing sprinkler systems. A ground floor tenant occupies 3,500 square feet with a lease expiring November 20, 2023, at a monthly rent of $3,000. This property is designated as an Opportunity Zone, presenting significant investment advantages. The asking price is $3,750,000, translating to $93.75 per square foot. The anticipated occupancy date is January 2, 2023. This is a rare chance to acquire a landmark building in a rapidly developing area of Birmingham.

    Property Features for 1816 1St Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    40,000 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    3

    HighLights

    • $3,750,000 asking price for a 40,000 square foot mixed‑use redevelopment opportunity.
    • Prime downtown Birmingham location, adjacent to key amenities and in the Innovation District.
    • Three‑story building (1920 construction) with two elevators, rear loading dock, and two parking spaces.
    • Features a new roof (2020), existing sprinklers, and B4 zoning.
    • Currently includes a ground floor tenant with a lease expiring 11/20/2023 ($3,000/month).
    • Located in an Opportunity Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irondale
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.80777026586
    Latitude
    33.513518754747

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    FAQs

    What type of property is this?
    Mixed-use property - Downtown Birmingham mixed-use gem. High-growth potential.
    Where is this mixed-use property located?
    The property is located at 1816 1St Ave Irondale, AL.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: $3,750,000 asking price for a 40,000 square foot mixed-use redevelopment opportunity.; Prime downtown Birmingham location, adjacent to key amenities and in the Innovation District.; Three-story building (1920 construction) with two elevators, rear loading dock, and two parking spaces.
    (205) 202-0814
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    1816 1St Ave Irondale, AL 35210
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    Irondale, AL 35210
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    Realmo Value Estimation

    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.

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    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.

    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
    1816 1St Ave Irondale, AL 35210
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