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

    651 2nd N Ave Birmingham, AL 35203-3013

    • Retail properties & Spaces
    • 7,242 SF
    • 0.75 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2020
    $321,425
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2919796
    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

    • Cain Awning Co Inc / Building Supply / Hardware & Home Improvement
    • Cain Awning / Home Decor Store / Department Store

    Property Details for 651 2nd N Ave

    Year built
    1953
    Lot size
    0.75 lot acres
    Property size
    7,242 SF
    Property type
    Retail properties & Spaces
    APN
    22-00-35-3-048-002.000
    APU
    2200353048002000

    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
    -86.8242
    Latitude
    33.5064
    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
    $4,747
    $21,200
    $61,360
    $82,560
    -
    $106,000
    $306,800
    $412,800

    Comparable in this City

    • Value Estimation by Request
      4,500 SF

      512 10th N St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,500 SF
      512 10th N St, Birmingham, AL 35203-1416
      View Details
    • Value Estimation by Request
      888 SF

      200 20th N St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 888 SF
      200 20th N St, Birmingham, AL 35203-3616
      View Details
    • Value Estimation by Request
      4,970 SF

      816 2nd N Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,970 SF
      816 2nd N Ave, Birmingham, AL 35203-3018
      View Details
    • Value Estimation
      $3,300,000
      8,910 SF

      1309 Reverend Abraham Woods Jr Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,910 SF
      1309 Reverend Abraham Woods Jr Blvd, Birmingham, AL 35203
      View Details
    • Value Estimation by Request
      3,143 SF

      2750 Richard Arrington Jr N Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,143 SF
      2750 Richard Arrington Jr N Blvd, Birmingham, AL 35203
      View Details
    • Value Estimation
      $825,000
      5,499 SF

      3000 Messer Airport Hwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,499 SF
      3000 Messer Airport Hwy, Birmingham, AL 35203-3923
      View Details

    Similar Nearby for Sale

    • $1,650,000
      9,325 SF

      Birmingham Restaurant/Bar for Sale

      Turnkey operation, high-traffic location.
      2430 Morris Ave, Birmingham, AL 35203
      View Details
    • $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
    • $2,600,000
      20,100 SF

      Prime Corner Lot with Drive-Thru

      Corner lot with drive-thru, high ceilings, and dedicated parking.
      2420-2424 1St Ave N, Birmingham, AL 35203
      View Details
    • Contact for pricing
      7,000 SF

      Versatile Mixed-Use Space in Birmingham

      Affordable venue/studio/office/retail space in Birmingham, AL.
      1612 3Rd Ave, Birmingham, AL 35203
      View Details
    • $2,600,000

      Prime Storefront in Loft District

      Street-level storefront with multi-tenant flexibility and strong visibility.
      2420 1St Ave N, Birmingham, AL 35203
      View Details
    • $1,300,000

      Commercial Land on Reverend Abraham

      Prime commercial land available on Reverend Abraham Woods Jr Blvd.
      1108 Reverend Abraham Woods Jr Blvd, Birmingham, AL 35203
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      613,764 SF

      Birmingham Retail Space - 1901 Sixth Ave

      Prime Birmingham retail, multiple spaces available.
      1901 6Th Ave, Birmingham, AL 35203
      View Details
    • Contact for pricing
      10,000 SF

      Downtown Birmingham Corner Property

      10,000 SF Retail/Office Space Available
      2400 1St Ave, 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
    • $26 SF/Yr

      Restaurant and Retail Space Available

      Upscale mixed-use development in downtown Birmingham with retail and restaurant space.
      2000 2Nd Ave South, 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
    • $25 SF/Yr
      40,000 SF

      Prime Birmingham Retail Space

      Multiple Storefronts Available in Historic District
      2212 1St Ave, 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.
    651 2nd N Ave
    Birmingham, AL 35203-3013
    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!