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

    2301 24th N Ave Birmingham, AL 35234-1116

    • Office properties & Spaces
    • 2,123 SF
    • 2.19 lot acres
    OFF-MARKET
    Last Sale
    Aug 01, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1886985
    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

    • Vulcan Truck Sales / Car Dealership
    • StoreMyTruck / Storage Facility / Parking Lot & Garage
    • Advantage Trailer Rentals - Birmingham / Car Rental Facility

    Property Details for 2301 24th N Ave

    Year built
    1950
    Lot size
    2.19 lot acres
    Property size
    2,123 SF
    Zone code
    M2
    Property type
    Office properties & Spaces
    APN
    22-00-23-1-034-005.000
    APU
    2200231034005000

    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
    -86.8186
    Latitude
    33.543
    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
    $2,983
    $28,560
    $17,440
    $46,000
    -
    $142,800
    $87,200
    $230,000

    Comparable in this City

    • Value Estimation
      $1,075,000
      6,345 SF

      2631 Fl Shuttlesworth Dr

      OFFICE (GENERAL) • 6,345 SF
      2631 Fl Shuttlesworth Dr, Birmingham, AL 35234-1342
      View Details
    • Value Estimation
      $1,025,000
      6,033 SF

      1232 37th N Pl

      OFFICE (GENERAL) • 6,033 SF
      1232 37th N Pl, Birmingham, AL 35234-2324
      View Details
    • Value Estimation
      $510,000
      3,000 SF

      1024 35th N St

      OFFICE (GENERAL) • 3,000 SF
      1024 35th N St, Birmingham, AL 35234
      View Details
    • Value Estimation
      $1,225,000
      7,214 SF

      2100 11th N Ave

      OFFICE (GENERAL) • 7,214 SF
      2100 11th N Ave, Birmingham, AL 35234-2716
      View Details
    • Value Estimation by Request
      336 SF

      1130 11th N Ave

      OFFICE (GENERAL) • 336 SF
      1130 11th N Ave, Birmingham, AL 35234
      View Details
    • Value Estimation
      $800,000
      4,704 SF

      1504 Appalachee St

      OFFICE (GENERAL) • 4,704 SF
      1504 Appalachee St, Birmingham, AL 35234-1422
      View Details

    Similar Nearby for Sale

    • $280,000
      0.26 Acres

      Land For Sale Birmingham, AL

      Land available in Birmingham, Alabama. Check zoning requirements.
      1122 N 29Th St, Birmingham, AL 35234
      View Details
    • Contact for pricing
      729 SF

      Renovated Quadplex Near Downtown

      Turn-key, renovated quadplex with strong rental income potential.
      1456 21St St N, Birmingham, AL 35234
      View Details
    • $280,000
      0.26 Acres

      Commercial Lot in Birmingham, AL

      Commercial lot available in Birmingham, Alabama.
      1120 N 30Th St, Birmingham, AL 35234
      View Details
    • $250,000
      0.34 Acres

      Uptown Birmingham Land Opportunity

      Land available in Uptown Birmingham near key attractions.
      1214 21St Pl, Birmingham, AL 35234
      View Details
    • $295,000
      0.72 Acres

      Birmingham Land in Uptown

      Commercial land in the heart of Uptown Birmingham.
      1248 21St Pl, Birmingham, AL 35234
      View Details
    • $220,000
      0.11 Acres

      Two Birmingham Lots Near Stadium

      Two commercial lots available near Top Golf and the football stadium.
      2813 N 12Th Ave, Birmingham, AL 35234
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr

      Renovated Warehouse Space Available

      Newly renovated warehouse space with excellent regional connectivity and access.
      2401 Carraway Blvd, Birmingham, AL 35234
      View Details
    • $12 SF/Yr
      8,000 SF

      Prime Norwood Industrial Space

      8,000 SF Manufacturing/Flex Space
      2215 24Th St, Birmingham, AL 35234
      View Details
    • $12 SF/Yr
      8,000 SF

      Prime Birmingham Industrial Space

      8,000 SF Manufacturing/Warehouse
      2415 23Rd Ave, Birmingham, AL 35234
      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.
    2301 24th N Ave
    Birmingham, AL 35234-1116
    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!