Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2129 1St Ave Birmingham, AL 35203

    Property Lookup

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

    2129 1St Ave Birmingham, AL 35203

    View on Map
    • Office properties & Spaces
    • 14,028 SF
    • 0.11 lot acres
    For Lease
    $2,070,000
    View Listing →
    AL, Birmingham - 1st Ave N For Lease
    $2,070,000

    AL, Birmingham - 1st Ave N

    Flexible workspace in IL, Hoffman Estates - Prairie Stone Pkwy

    2129 1St Ave, Birmingham, AL 35203
    View Listing
    Property ID
    US03-0959291
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kevin Miller Development Inc / General Contractor
    • Greybox Investments / Financial Advisor
    • Landale Partners LLC / Consultant
    • Southeast Aviation Agency / Insurance Agency

    Property Details for 2129 1St Ave

    Year built
    1924
    Lot size
    0.11 lot acres
    Property size
    14,028 SF
    Zone code
    B4
    Property type
    Office properties & Spaces
    APN
    22-00-36-1-039-001.000
    APU
    2200361039001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,715,000
      6.5%
      $2,505,000
      7%
      $2,325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,317,000
      Market price range: $606k - $2.32M
      AI Estimate
      $1,388,000
      Market price range: $369k - $1.59M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,580,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,830,000
      Change: +79% Conversion: Moderate
      MEDICAL BUILDING
      $2,495,000
      Change: +58% Conversion: Easy
      OFFICE BUILDING
      $2,345,000
      Change: +48% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,260,000
      Change: +43% Conversion: Difficult
      RETAIL STORES
      $1,715,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.8029
    Latitude
    33.5154
    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
    $12,527
    $32,000
    $201,960
    $233,960
    -
    $160,000
    $1,009,800
    $1,169,800

    Comparable in this City

    • Value Estimation
      $25,655,000
      168,416 SF

      1500 1st N Ave

      OFFICE (GENERAL) • 168,416 SF
      1500 1st N Ave, Birmingham, AL 35203-1865
      View Details
    • Value Estimation
      $9,245,000
      60,689 SF

      1917 Morris Ave

      OFFICE (GENERAL) • 60,689 SF
      1917 Morris Ave, Birmingham, AL 35203
      View Details
    • Value Estimation by Request
      3,800 SF

      2008 3Rd Ave

      Office properties & Spaces • 3,800 SF
      2008 3Rd Ave, Birmingham, AL 35203
      View Details
    • Value Estimation
      $13,535,000
      72,356 SF

      2001 Park Pl

      OFFICE (GENERAL) • 72,356 SF
      2001 Park Pl, Birmingham, AL 35203-2709
      View Details
    • Value Estimation
      $970,000
      8,200 SF

      2209 Morris Ave

      OFFICE (GENERAL) • 8,200 SF
      2209 Morris Ave, Birmingham, AL 35203-4211
      View Details
    • Value Estimation
      $600,000
      4,160 SF

      404 15th N St

      OFFICE (GENERAL) • 4,160 SF
      404 15th N St, Birmingham, AL 35203-1845
      View Details

    Similar Nearby for Sale

    • $200,000
      2,150 SF

      Mixed-Use Commercial Condo Opportunity

      Commercial condo with flexible space in a prime location.
      2025 1St Ave, Birmingham, AL 35203
      View Details
    • $975,000

      Downtown Birmingham Office Condo For Sale

      4,900 SF office condo in the heart of Birmingham.
      300 20Th St North, Birmingham, AL 35203
      View Details
    • $1,200,000

      Historic Office Building in Downtown

      Office building with exposed brick and original wooden floors.
      2119 3Rd Ave N, Birmingham, AL 35203
      View Details
    • $200,000
      1,970 SF

      Commercial Condo with Build-Out Potential

      Commercial condominium with flexible space in a prime location.
      2025 1St Ave N, Birmingham, AL 35203
      View Details
    • $975,000

      Historic Building in Downtown Birmingham

      Prime downtown location with redevelopment potential near entertainment venues.
      1919 3Rd Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing
      24,821 SF

      Downtown Birmingham Mixed-Use Opportunity

      Mixed-use property in Birmingham's Central Business District for sale.
      317 20Th St N, Birmingham, AL 35203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Birmingham Office Space Available

      Office spaces for rent in downtown Birmingham's legal district.
      2001 Park Pl North, Birmingham, AL 35203
      View Details
    • $21 SF/Yr
      6,600 SF

      Morris Avenue Retail/Office Opportunity

      Renovated retail and office space in Birmingham's Loft District.
      2430 Morris Ave, Birmingham, AL 35203
      View Details
    • $9 SF/Yr

      Historic Office Suite in Birmingham

      Historic office suite in vibrant downtown Birmingham district for rent.
      2218 2Nd Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing

      Adaptive-Reuse Startup Hub in Birmingham

      Modern complex with flexible office, showroom, warehouse, and kitchen spaces.
      1201 2Nd Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing

      Downtown Office Space For Rent

      Prominent office space in a beautiful historic building.
      2100 1St Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing
      12,009 SF

      Birmingham Central Business District Office

      Office space available in Birmingham's Central Business District.
      417 20Th St N, Birmingham, AL 35203
      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.
    2129 1St Ave
    Birmingham, AL 35203
    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!