Sign Up Successful!
You now have access to more from Realmo!
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

    2308 1st N Ave Birmingham, AL 35203-4302

    • Commercial land
    • 15.70 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1242754
    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

    • Hardwick Company, INC. / Steel Fabricator
    • Braids by christal / Hair Salon
    • S&S Hair Studios / Hair Extensions Supplier / Beauty Salon
    • HAVEN FABULASH NAILS / Nail Salon
    • SNATCHED PROFESSIONAL WAXING AND HAIR REMOVAL LLC. / Waxing Hair Removal Service

    Property Details for 2308 1st N Ave

    Lot size
    15.70 lot acres
    Zone code
    CM1
    Property type
    Commercial land
    APN
    29-00-18-3-016-002.002
    APU
    2900183016002002

    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
    -86.8934
    Latitude
    33.465
    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
    $16,320
    $0.00
    $16,320
    -
    $81,600
    $0.00
    $81,600

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      921 13th N Pl

      VACANT COMMERCIAL LAND • 0.17 Acres
      921 13th N Pl, Birmingham, AL 35203-1714
      View Details
    • Value Estimation by Request
      1.02 Acres

      321 17th N St

      VACANT COMMERCIAL LAND • 1.02 Acres
      321 17th N St, Birmingham, AL 35203-2005
      View Details
    • Value Estimation by Request
      0.14 Acres

      914 Short 12th N St

      VACANT COMMERCIAL LAND • 0.14 Acres
      914 Short 12th N St, Birmingham, AL 35203
      View Details
    • Value Estimation by Request
      0.22 Acres

      2015 3rd N Ave

      VACANT COMMERCIAL LAND • 0.22 Acres
      2015 3rd N Ave, Birmingham, AL 35203-3301
      View Details
    • Value Estimation by Request
      0.87 Acres

      3020 Messer Airport Hwy

      VACANT COMMERCIAL LAND • 0.87 Acres
      3020 Messer Airport Hwy, Birmingham, AL 35203-3923
      View Details
    • Value Estimation by Request
      0.36 Acres

      1512 6th N Ave

      VACANT COMMERCIAL LAND • 0.36 Acres
      1512 6th N Ave, Birmingham, AL 35203
      View Details

    Similar Nearby for Sale

    • $300,000
      0.43 Acres

      Birmingham Land For Sale

      Commercial land available in Birmingham, Alabama.
      917 Rev Abraham Wood Jr Blvd, Birmingham, AL 35203
      View Details
    • $1,225,000
      22,995 SF

      Birmingham Flex Warehouse For Sale

      Prime location, 22,995 SF, vacant.
      1318 1St Ave, Birmingham, AL 35203
      View Details
    • $1,650,000
      9,325 SF

      Birmingham Restaurant/Bar for Sale

      Turnkey operation, high-traffic location.
      2430 Morris Ave, Birmingham, AL 35203
      View Details
    • Contact for pricing
      24,821 SF

      The Post: Birmingham Creative Office

      Downtown Birmingham Creative Office Redevelopment
      317 20Th St, Birmingham, AL 35203
      View Details
    • $449,900
      1,375 SF

      Modern Condo in Historic Building

      Spacious 2-bedroom condo with modern amenities and historic charm.
      113 22Nd St N, Birmingham, AL 35203
      View Details
    • $399,900
      1,444 SF

      Downtown Condo with City Views

      Updated 2-bedroom condo in historic building with city views.
      1914 N 3Rd Ave, Birmingham, AL 35203
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Downtown Parking Lot for Lease

      Parking lot with 64-72 spaces in downtown Birmingham.
      1601 4Th Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing
      4,000 SF

      Farley Building: Prime Birmingham Office Space

      Historic Birmingham office, flexible suites available.
      1929 3Rd Ave, Birmingham, AL 35203
      View Details
    • Contact for pricing
      125,000 SF

      Prime Birmingham Office/Warehouse

      125,000 SF, Flexible Spaces Available
      811 5Th Ave, Birmingham, AL 35203
      View Details
    • Contact for pricing
      11,276 SF

      Downtown Birmingham Executive Suites

      Prime Office Space, Newly Renovated
      312 Richard Arrington Jr Blvd, Birmingham, AL 35203
      View Details
    • $17 SF/Yr
      3,500 SF

      Downtown Birmingham Retail Space

      Prime 3,500 SF Retail Opportunity
      2013 5Th Ave, Birmingham, AL 35203
      View Details
    • $40 SF/Yr
      150 SF

      Renovated Office Space Available

      Newly renovated office space in the Historic Steiner Building.
      2101 1St Ave N, Birmingham, AL 35203
      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.
    2308 1st N Ave
    Birmingham, AL 35203-4302
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.