Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 Independence Plz Homewood, AL 35209

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Executive Suites, Homewood, AL.

    Lot size:
    106,216 SF

    Property Features for 0 1 Independence Plz

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    106,216 SF
    Class
    A

    Building Details

    Year Built
    1979

    Spaces For Lease

    at 0 1 Independence Plz, Homewood, AL 35209 Contact us

    We can help!

    Listing Contact
    Alec Hersh
    Alec Hersh

    Listing Agency: Shannon Waltchack Listing Agent: Alec Hersh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    One Independence Plaza offers exceptional executive office space in the heart of Homewood, Alabama. This Class A building, constructed in 1979, boasts a total of 106,216 square feet situated on a 2.35-acre lot. Currently, there are 4,057 square feet of vacant space available, divisible into units as small as 701 square feet, with a maximum contiguous space of 3,356 square feet. The building is ideally suited for multiple tenants seeking professional office environments. Located at One Independence Plaza, in the Homewood submarket of Jefferson County, this property provides easy access to key amenities and transportation routes. The building's prime location within Homewood's landmark professional office tower ensures high visibility and a prestigious address. This is an excellent opportunity for businesses seeking modern, efficient, and well-located office space in a thriving Alabama community. The zip code is 35209. The property type is office, specifically executive office and professional office space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Homewood
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.788388
    Latitude
    33.4804531

    Nearby Similar for Lease

    • Contact for pricing

      West Oxmoor Warehouse Space Available

      33,000 SF warehouse with cooler/freezer and office space.
      19 West Oxmoor Rd, Homewood, AL 35209
      View Details
    • $7 SF/Yr

      Warehouse Space with Excellent Access

      Open warehouse space with convenient access to major transportation routes.
      200 West Oxmoor Rd Distribution Dr, Homewood, AL 35209
      View Details
    • Contact for pricing
      10,360 SF

      Retail Space in Wildwood Centre

      Retail space in a power center near downtown Birmingham.
      255 Lakeshore Pkwy, Homewood, AL
      View Details
    • Contact for pricing
      3,250 SF

      Office/Warehouse Space with Dock-High Loading

      3,250 SF office/warehouse with dock-high loading, available now.
      128 Citation Ct, Homewood, AL
      View Details
    • $25 SF/Yr
      22,680 SF

      Lakeshore Drive Office Building

      Prime Homewood Office Space Available
      35 Lakeshore Dr, Homewood, AL 35209
      View Details
    • $15 SF/Yr
      6,652 SF

      Green Springs Center Office Suites

      Homewood, AL Office Space Available
      430 Grn Spg Hwy, Homewood, AL 35209
      View Details
    • Contact for pricing
      10,500 SF

      231 State Farm Pkwy

      Retail properties & Spaces • 10,500 SF
      231 State Farm Pkwy, Homewood, AL 35209
      View Details
    • Contact for pricing
      1 SF

      I-65 Frontage Ground Lease, Homewood, AL

      High-traffic location, 4.5 acres, development potential.
      275 Oxmoor Rd, Homewood, AL 35209
      View Details
    • $11 SF/Yr
      8,560 SF

      West Valley Plaza Retail Space

      Prime Retail Space, Birmingham, AL
      191 Vly Ave, Homewood, AL 35209
      View Details
    • $21 SF/Yr
      210,771 SF

      Patriot Midtown Park Office Space

      Midtown Homewood Office Suites Available
      200 Wildwood Pkwy, Homewood, AL 35209
      View Details
    • Contact for pricing
      97,989 SF

      Homewood Office Park Investment

      Prime Homewood office space, flexible suites available.
      216-234 Gemini Cir, Homewood, AL 35209
      View Details
    • $39 SF/Yr
      2,225 SF

      Homewood Medical Office Space for Sale

      Prime Medical Office, 2225 sq ft, Homewood, AL
      169 State Farm Pkwy, Homewood, AL 35209
      View Details

    FAQs

    What type of property is this?
    Office units - Executive Suites, Homewood, AL.
    Where is this office units located?
    The property is located at 1 Independence Plz Homewood, AL.
    What are key features of this property?
    This property features: Exceptional executive office space in Homewood, AL's landmark building.; Prime location at the intersection of Hwy 31, Hwy 280, and Red Mountain Expressway, providing easy access to Birmingham.; Walking distance to downtown Homewood's restaurants, retail, and hotels.
    (205) 209-9701 Call to check price and availability
    Request Owner's contact information
    1 Independence Plz Homewood, AL 35209
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Independence Plz
    Homewood, AL 35209
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1 Independence Plz Homewood, AL 35209
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alec Hersh
    Alec Hersh
    Real Estate License ID: 140488
    (205) 209-9701 (205) 868-3809
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!