Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2229 1st S Ave Birmingham, AL 35233-2316

    • Office properties & Spaces
    • 7,200 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0750704
    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

    • Salem Resha Attorney at Law / Law Firm
    • Dilorenzo Joel / Law Firm
    • Mainsail Business Valuation Services / Business Management Consultant
    • The Black Diamond Building / Business Service Center / Corporate Office
    • Mainsail Asset Management, LLC / Financial Advisor

    Property Details for 2229 1st S Ave

    Year built
    1910
    Lot size
    0.37 lot acres
    Property size
    7,200 SF
    Zone code
    M1
    Property type
    Office properties & Spaces
    APN
    22-00-36-1-035-001.000
    APU
    2200361035001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,395,000
      6.5%
      $1,285,000
      7%
      $1,195,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,450,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,450,000
      Change: +0% Conversion: Moderate
      MEDICAL BUILDING
      $1,280,000
      Change: -12% Conversion: Easy
      OFFICE BUILDING
      $1,205,000
      Change: -17% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,160,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Birmingham
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.7998
    Latitude
    33.5135
    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
    $11,617
    $51,202
    $160,298
    $211,500
    -
    $512,000
    $1,602,900
    $2,114,900

    Comparable in this City

    • Value Estimation by Request
      7,125 SF

      2205 3Rd Ave

      Restaurants • 7,125 SF
      2205 3Rd Ave, Irondale, AL 35233
      View Details
    • Value Estimation
      $1,220,000
      14,400 SF

      725 Richard Arrington Jr S Blvd

      OFFICE (GENERAL) • 14,400 SF
      725 Richard Arrington Jr S Blvd, Birmingham, AL 35233-2105
      View Details
    • Value Estimation
      $1,640,000
      16,200 SF

      2211 7th S Ave

      OFFICE (GENERAL) • 16,200 SF
      2211 7th S Ave, Birmingham, AL 35233-2310
      View Details
    • Value Estimation by Request
      2,450 SF

      3001 7th S Ave

      OFFICE (GENERAL) • 2,450 SF
      3001 7th S Ave, Birmingham, AL 35233-3502
      View Details
    • Value Estimation
      $910,000
      8,978 SF

      2205 7th S Ave

      OFFICE (GENERAL) • 8,978 SF
      2205 7th S Ave, Birmingham, AL 35233-2310
      View Details
    • Value Estimation
      $530,000
      3,600 SF

      2710 7th S Ave

      OFFICE (GENERAL) • 3,600 SF
      2710 7th S Ave, Birmingham, AL 35233
      View Details

    Similar Nearby for Sale

    • $975,000
      9,800 SF

      Midtown Birmingham Retail Space

      Historic building, prime location, high ceilings
      1813 3Rd Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing
      8,400 SF

      Midtown Birmingham Redevelopment Opportunity

      8,400 SF Multi-Tenant Storefront
      201 Richard Arrington Jr Blvd, Birmingham, AL 35233
      View Details
    • Contact for pricing
      478,000 SF

      Liberty Towers: Prime Birmingham Office

      478,000 SF Executive Office Building
      2001 3Rd Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing
      9,000 SF

      Adaptable Warehouse with Expansion Potential

      9,000 SF building with warehouse and office/showroom potential.
      2614 6Th Ave S, Birmingham, AL 35233
      View Details
    • Contact for pricing
      9,000 SF

      Prime Birmingham Office Space

      9,000 SF Executive/Creative Office
      2614 6Th Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing

      Corporate Campus with Flex Warehouse

      Three-story corporate campus with parking and flex warehouse for sale.
      701 32Nd St South, Birmingham, AL 35233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,922 SF

      Parkside District Office Space

      Birmingham Office/Retail Opportunity
      201 18Th St, Birmingham, AL 35233
      View Details
    • $32 SF/Yr
      140,000 SF

      Denham Building: Executive Office Suite

      12,574 SF Move-In Ready Office Space in Birmingham, AL
      1143 1St Ave, Birmingham, AL 35233
      View Details
    • $34 SF/Yr
      10,000 SF

      Downtown Birmingham Office Space

      Historic Office Suites, Flexible Sizes, Prime Location
      1200 1St Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing
      21,077 SF

      Prime Birmingham Executive Office Space

      Class A Office, 6,295 SF Available
      1616 2Nd Ave, Birmingham, AL 35233
      View Details
    • Contact for pricing
      483,000 SF

      20 Midtown: Premier Mixed-Use Retail

      High-demand retail space, prime location.
      304 20Th St, 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
    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.
    2229 1st S Ave
    Birmingham, AL 35233-2316
    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!