341 1St St Alabaster, AL 35007
- Specialty properties
- 19,150 SF
- 2.96 lot acres
Current Use by Public Records
- The Hill Learning Center / Day Care Center
Property Details for 341 1St St
- Lot size
- 2.96 lot acres
- Property size
- 19,150 SF
- Property type
- Specialty properties
- Property subtype
- Churches & religious facilities
Description
This exceptional mixed-use investment opportunity in Alabaster, Alabama, presents a compelling proposition for discerning buyers. Encompassing three buildings totaling 19,150 square feet on a 2.96-acre lot, this property offers a blend of existing income and significant redevelopment potential. Currently generating $172,000 in gross annual income with 60% occupancy, the property includes a 13,540 square foot multi-bay flex center renovated in 2023, along with two additional flex office warehouses of 4,500 and 1,200 square feet respectively. A former convenience store and a separate 0.93-acre lot are also included. The property boasts 140 feet of road frontage on 1st Street SW, providing excellent visibility and accessibility. Its strategic location offers immediate access to Highways 31 and 119, and is only 0.6 miles from I-65, Exit 238. Zoned B-3 General Business by the City of Alabaster, this property benefits from the city's robust growth, boasting a remarkable 60% increase in population over the last decade and a population of over 345,000 residents within a 5-mile radius. The zoning allows for diverse uses including micro-flex, retail, and storage, making it an ideal canvas for value-add strategies. The property is offered at $2,250,000 and can be sold as a whole or individually. This is a rare chance to acquire a significant asset in a thriving Alabama market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alabaster
- County
- Shelby
- State
- Alabama
- Longitude
- -86.8171
- Latitude
- 33.2403
