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

    2401 1st NW Pl Center Point, AL 35215-3589

    • Garden apartment buildings
    • 12,228 SF
    • 6.35 lot acres
    OFF-MARKET
    Value Estimations
    $1,235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2875627
    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

    • Garden apartment buildings

    Property Details for 2401 1st NW Pl

    Year built
    1971
    Lot size
    6.35 lot acres
    Property size
    12,228 SF
    Property type
    Garden apartment buildings
    APN
    12-00-07-3-013-005.000
    APU
    1200073013005000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,470,000
      6.5%
      $1,355,000
      7%
      $1,260,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Center Point
    County
    Jefferson
    State
    Alabama
    Longitude
    -86.687
    Latitude
    33.6504
    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
    $33,460
    $82,960
    $726,180
    $809,140
    -
    $414,800
    $3,630,900
    $4,045,700

    Comparable in this City

    • Value Estimation
      $1,235,000
      11,104 SF

      713 24th NW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 11,104 SF
      713 24th NW Ave, Birmingham, AL 35215-3068
      View Details
    • Value Estimation
      $520,000
      12,228 SF

      137 25th NW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 12,228 SF
      137 25th NW Ave, Center Point, AL 35215-3512
      View Details
    • Value Estimation
      $520,000
      12,228 SF

      107 25th NW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 12,228 SF
      107 25th NW Ave, Center Point, AL 35215-3581
      View Details
    • Value Estimation
      $935,000
      13,668 SF

      344 20th NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 13,668 SF
      344 20th NE Ave, Center Point, AL 35215-4944
      View Details
    • Value Estimation by Request
      6,420 SF

      108 16th NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 6,420 SF
      108 16th NE Ave, Center Point, AL 35215-5661
      View Details
    • Value Estimation by Request
      4,222 SF

      1000 Villa Rica Ct

      GARDEN APT, COURT APT (5+ UNITS) • 4,222 SF
      1000 Villa Rica Ct, Birmingham, AL 35215-0300
      View Details

    Similar Nearby for Sale

    • $4,000,000
      34.00 Acres

      Birmingham Commercial Land Investment

      34 Acres, A1 Zoning, Prime Location
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    • $250,000
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      Center Point Office Building & Land

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    • Contact for pricing
      0.55 Acres

      Birmingham Acreage Home Building Site

      Residential land for sale in Birmingham, Alabama.
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    • Contact for pricing
      0.55 Acres

      Residential Land in Birmingham, AL

      Residential land available for custom home construction.
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    • $189,000
      31.49 Acres

      31.49 Acres in Birmingham, AL

      31.49 acres of land suitable for commercial or residential development.
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    • $525,000
      5,400 SF

      5400 sqft Building, 10 Acres

      Birmingham Office Building, Vacant, 10 Acres
      2650 Center Point Pkwy, Birmingham, AL 35215
      View Details

    Similar Nearby for Lease

    • $168 SF/Yr
      6,000 SF

      Center Point Parkway Office Space

      Birmingham Office Building: 6,000 sq ft available
      2500 Center Point Pkwy, Birmingham, AL 35215
      View Details
    • $8 SF/Yr
      6,144 SF

      Parkway East Office Building for Lease

      Birmingham Office Space, High Visibility
      9433 Parkway, Birmingham, AL 35215
      View Details
    • Contact for pricing
      148,275 SF

      Center Point Retail Center Investment

      High-traffic retail space available in Alabama
      1671 Ctr Pt Pkwy, Center Point, AL 35215
      View Details
    • Contact for pricing
      140,000 SF

      Prime Birmingham Industrial Space

      140,000 SF Warehouse/Manufacturing Facility
      124 Carson Rd, Birmingham, AL 35215
      View Details
    • $9 SF/Yr
      13,905 SF

      Center Point Parkway Retail Space

      Former Walgreens, Drive-Thru, High Visibility
      2301 Center Point Pkwy, Birmingham, AL 35215
      View Details
    • $18 SF/Yr
      125,597 SF

      Concourse 100 Office Space for Lease

      Birmingham Office Building, Flexible Suites Available
      100 Concourse Pkwy, Birmingham, AL 35215
      View Details
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    2401 1st NW Pl
    Center Point, AL 35215-3589
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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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