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

    1722 28th S Ave Birmingham, AL 35209-1896

    • Retail space
    • 13,860 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2021
    $2,750,000
    Value Estimations
    $2,555,000
    Show details
    Cap Rate Potential
    5.2%
    Retail space
    Location Intelligence
    Property ID
    US03-0391479
    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

    • Luca Lagotto / Italian Restaurant
    • Certified Heating & Cooling / Air Conditioning Contractor

    Property Details for 1722 28th S Ave

    Year built
    1966
    Lot size
    0.60 lot acres
    Property size
    13,860 SF
    Zone code
    C2
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    28-00-07-3-012-008.000
    APU
    2800073012008000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,625,000
      ML approach
      $2,660,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,260,000
      6.5%
      $2,085,000
      7%
      $1,935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,622,000
      Market price range: $468k - $2.62M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,695,000
      Current use
      RESTAURANT
      $3,790,000
      Change: +124% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,745,000
      Change: +121% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,930,000
      Change: +73% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,795,000
      Change: +65% Conversion: Difficult
      MEDICAL BUILDING
      $2,465,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $2,320,000
      Change: +37% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,230,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7933
    Latitude
    33.481
    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
    $0.00
    $781,840
    $0.00
    $781,840
    -
    $2,509,100
    $0.00
    $2,509,100

    Comparable in this City

    • Value Estimation
      $240,000
      2,974 SF

      2017 Richard Arrington Jr S Blvd

      STORE, RETAIL OUTLET • 2,974 SF
      2017 Richard Arrington Jr S Blvd, Birmingham, AL 35209-1201
      View Details
    • Value Estimation by Request

      191 Valley Ave

      Neighborhood centers
      191 Valley Ave, Homewood, AL 35209
      View Details
    • Value Estimation by Request
      174,791 SF

      146 Wildwood Pkwy

      Individual retail properties • 174,791 SF
      146 Wildwood Pkwy, Homewood, AL 35209
      View Details
    • Value Estimation by Request
      6,652 SF

      430 Green Springs Hwy

      Neighborhood centers • 6,652 SF
      430 Green Springs Hwy, Homewood, AL 35209
      View Details
    • Value Estimation
      $275,000
      3,070 SF

      201 Grn Spgs Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,070 SF
      201 Grn Spgs Hwy, Birmingham, AL 35209-4905
      View Details
    • Value Estimation
      $635,000
      155,548 SF

      375 State Farm Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 155,548 SF
      375 State Farm Pkwy, Birmingham, AL 35209-7180
      View Details

    Similar Nearby for Sale

    • $2,200,000
      0.17 Acres

      Downtown Homewood Retail Opportunity

      Prime Homewood location, high visibility, huge potential.
      2730 18Th St, Homewood, AL 35209
      View Details
    • $8,800,000
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      109,882 SF Industrial Facility, $8.8M
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    • $155,000
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      Charming Homewood End Unit

      2 bed, 1 bath end unit in Homewood area.
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    • Contact for pricing
      30,000 SF

      Birmingham Office Building For Sale

      30,000 SF Office Building, Owner-User Opportunity
      301 Beacon Pkwy, Birmingham, AL 35209
      View Details
    • $2,300,000
      47,100 SF

      Birmingham Industrial Investment

      Net-leased manufacturing facility, high ROI.
      108 Walter Davis Dr, Birmingham, AL 35209
      View Details
    • $315,000

      Penthouse with Breathtaking Birmingham Skyline Views

      Refined penthouse living with panoramic sunset views of Birmingham.
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    Similar Nearby for Lease

    • $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
    • $11 SF/Yr
      8,560 SF

      West Valley Plaza Retail Space

      Prime Retail Space, Birmingham, AL
      191 Vly Ave, Homewood, AL 35209
      View Details
    • Contact for pricing
      1,950 SF

      Retail Space Near Lowe's

      Up to 3,900 SF available in high-traffic retail corridor.
      350 State Farm Pkwy, Birmingham, AL 35209
      View Details
    • $25 SF/Yr
      8,600 SF

      Renovated Retail/Office Space Available

      Renovated space in growing community, suitable for retail/office.
      169 Oxmoor Rd, Birmingham, AL 35209
      View Details
    • $24 SF/Yr

      Versatile Commercial Space in Homewood

      Customizable 10,800 SF space ideal for office or showroom.
      3512 Old Montgomery Hwy, Birmingham, 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
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    Birmingham, AL 35209-1896
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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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