Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1117 22Nd St S Birmingham, AL 35205
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1117 22Nd St S Birmingham, AL 35205

    View on Map
    • Office properties & Spaces
    • 6,262 SF
    • 0.41 lot acres
    For Lease
    $1,015,000
    View Listing →
    Renovated Office Space For Rent For Lease
    $1,015,000

    Renovated Office Space For Rent

    Full-service, renovated office space with secured entrances and ample parking.

    1117 22nd St S, Birmingham, AL 35205
    View Listing
    Property ID
    US03-0456445
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,015,000
    Cap Rate Potential
    7.9%
    Office properties & Spaces
    Location Intelligence

    Current Use by Public Records

    • SYM Law Group, LLC / Law Firm
    • Monge & Associates / Law Firm
    • Law Offices of James M. Allen, LLC / Law Firm
    • Collins John / Law Firm
    • The Law Office of Cody R. Wix, LLC / Law Firm

    Property Details for 1117 22Nd St S

    Year built
    1979
    Lot size
    0.41 lot acres
    Property size
    6,262 SF
    Zone code
    B1
    Property type
    Office properties & Spaces
    APN
    28-00-06-2-011-012.000
    APU
    2800062011012000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $920,000
      ML approach
      $945,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,210,000
      6.5%
      $1,120,000
      7%
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,062,000
      Market price range: $495k - $1.06M
      AI Estimate
      $1,408,000
      Market price range: $386k - $1.41M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $755,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,265,000
      Change: +67% Conversion: Moderate
      MEDICAL BUILDING
      $1,115,000
      Change: +48% Conversion: Easy
      OFFICE BUILDING
      $1,045,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,010,000
      Change: +34% Conversion: Difficult
      RETAIL STORES
      $765,000
      Change: +2% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7911
    Latitude
    33.5026
    CBSA code
    13820
    CBSA name
    BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $11,700
    $92,920
    $134,460
    $227,380
    -
    $464,600
    $672,300
    $1,136,900

    Comparable in this City

    • Value Estimation
      $9,355,000
      48,960 SF

      908 20th S St

      OFFICE (GENERAL) • 48,960 SF
      908 20th S St, Birmingham, AL 35205-2610
      View Details
    • Value Estimation
      $1,120,000
      5,859 SF

      1730 14th S Ave

      OFFICE (GENERAL) • 5,859 SF
      1730 14th S Ave, Birmingham, AL 35205-5539
      View Details
    • Value Estimation by Request
      492 SF

      1600 12th S St

      OFFICE (GENERAL) • 492 SF
      1600 12th S St, Birmingham, AL 35205
      View Details
    • Value Estimation by Request
      1,437 SF

      340 6th S Ave

      OFFICE (GENERAL) • 1,437 SF
      340 6th S Ave, Birmingham, AL 35205
      View Details
    • Value Estimation by Request
      139,948 SF

      2311 Highland Ave

      Office properties & Spaces • 139,948 SF
      2311 Highland Ave, Birmingham, AL 35205
      View Details
    • Value Estimation
      $1,920,000
      15,168 SF

      2120 16th S Ave

      OFFICE (GENERAL) • 15,168 SF
      2120 16th S Ave, Birmingham, AL 35205-5000
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,050 SF

      Office Warehouse Near UAB

      Partially occupied office warehouse for sale or lease.
      1135 14Th Ave S, Birmingham, AL 35205
      View Details
    • $459,000
      2,656 SF

      Historic Beck Home Office Building

      Two-story office building in downtown Birmingham's Southside area.
      1027 23Rd St S, Birmingham, AL 35205
      View Details
    • $459,000
      0.18 Acres

      Historic Office Building in Birmingham

      Two-story office building with six offices in downtown Birmingham.
      1027 23Rd St, Birmingham, AL 35205
      View Details
    • Contact for pricing
      47,000 SF

      Mixed-Use Facility and Daycare Center

      Two buildings on 4.05 acres with diverse use potential.
      301 21St Ave S, Birmingham, AL 35205
      View Details
    • $825,000

      Birmingham Office Building Near Medical Center

      Strategically located office building near UAB and St. Vincent's.
      1000 24Th St S, Birmingham, AL 35205
      View Details
    • $875,000

      Land Zoned for Mixed Use

      Land suitable for mixed-use development, preliminarily designed for multifamily units.
      2333 10Th Ave S, Birmingham, AL 35205
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Birmingham, Alabama.
      2117 Magnolia Ave S, Birmingham, AL 35205
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 2222 Arlington Ave S.
      2222 Arlington Ave S, Birmingham, AL 35205
      View Details
    • Contact for pricing

      Mixed-Use Building Near Hospital

      Ideally located building suitable for office, retail, or restaurant.
      2918 Clairmont Ave, Birmingham, AL 35205
      View Details
    • Contact for pricing

      Freestanding Office Building with Parking

      Southside office building for lease or purchase with city views.
      2164 11Th Ave S, Birmingham, AL 35205
      View Details
    • Contact for pricing

      Office Suites in Park Building

      Office suites for lease in Magnolia Office Park.
      2140 11Th Ave South, Birmingham, AL 35205
      View Details
    • $18 SF/Yr

      Office Space in Plaza Building

      Office space for rent in the heart of Five Points.
      2112 11Th Ave South, Birmingham, AL 35205
      View Details
    View Listing
    Request Owner's contact information
    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.
    1117 22Nd St S
    Birmingham, AL 35205
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!