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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    120 18Th St Birmingham, AL 35233

    • Commercial real estate
    • 39,849 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0898526
    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.

    Current Use by Public Records

    • DirectPath / Insurance Agency
    • kvinfoservices / Employment Agency
    • parkingmgt.com / Parking Lot & Garage
    • Optavise / Insurance Agency
    • Arsenal Insurance Management / Insurance Agency

    Property Details for 120 18Th St

    Year built
    1914
    Property size
    39,849 SF
    Property type
    Commercial real estate

    Description

    This iconic, Class A office building, located at 120 18th Street South in Birmingham, Alabama's Parkside District (zip code 35233), offers a unique leasing opportunity. Originally constructed in 1914 and extensively renovated in 2013, Railroad Square boasts 39,849 square feet of total space. Currently, there are multiple suites available, ranging from a minimum of 508 square feet to a maximum contiguous space of 6,900 square feet, with a total of 8,957 square feet currently vacant. The building features stunning architectural details including exposed brick and beams, sliding barn doors crafted from reclaimed wood, and incredible natural light from large windows. Its prime location places it within easy walking distance of popular local businesses such as Tazikis, Hero Doughnuts, Red Cat Coffee, and Tasty Town. Furthermore, its proximity to UAB, Railroad Park, Good People Brewing, and Regions Field makes it highly desirable. The building provides ample parking with 120 spaces available for tenants. This property is situated in Jefferson County and represents a rare chance to lease space in a historically significant and beautifully renovated building. The building is suitable for executive office tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8065774
    Latitude
    33.5096709

    Comparable in this City

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      5,104 SF

      Move-In Ready Office Space Available

      5,105 SF office space in multi-block development for rent.
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    • $25 SF/Yr
      18,454 SF

      Class A Office Space

      Newest Class A office building in Birmingham's CBD.
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      23,878 SF

      Birmingham Warehouse Distribution Space

      Large Warehouse Space Available in Birmingham, AL
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      Birmingham Office Space: 52,127 SF
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      Industrial Chic Office Space Available

      Unique office space in vibrant location with on-site amenities.
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    Similar Nearby for Sale

    • $3,600,000

      Parkside District Multi-Tenant Office Building

      Multi-tenant office building in Parkside District with Class A finishes.
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      Prime Downtown Commercial Space

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      Midtown Birmingham Retail Space

      Historic building, prime location, high ceilings
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      Prime Birmingham Office Space

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      9,000 SF

      Adaptable Warehouse with Expansion Potential

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      2614 6Th Ave S, Birmingham, AL 35233
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    Similar Nearby for Lease

    • Contact for pricing
      30,271 SF

      University Park Office Suites

      Jefferson County executive office space.
      1201 2Nd Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing
      5,104 SF

      Move-In Ready Office Space Available

      5,105 SF office space in multi-block development for rent.
      1200-1210 2Nd Ave S, Birmingham, AL 35233
      View Details
    • $25 SF/Yr
      18,454 SF

      Class A Office Space

      Newest Class A office building in Birmingham's CBD.
      301 Richard Arrington Jr Blvd N, Birmingham, AL 35233
      View Details
    • Contact for pricing
      23,878 SF

      Birmingham Warehouse Distribution Space

      Large Warehouse Space Available in Birmingham, AL
      3131 4Th Ave, Birmingham, AL 35233
      View Details
    • $27 SF/Yr
      52,127 SF

      Pepper Place Office Building

      Birmingham Office Space: 52,127 SF
      2901 2Nd Ave, Birmingham, AL 35233
      View Details
    • $32 SF/Yr
      52,286 SF

      Industrial Chic Office Space Available

      Unique office space in vibrant location with on-site amenities.
      1143 1St Ave S, Birmingham, AL 35233
      View Details
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    120 18Th St
    Birmingham, AL 35233
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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
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