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2024 3rd Ave N 21,000 SF 88% Leased Office Building Birmingham, AL 35203 $3,975,000 ($189.29/SF) 8.44% Cap Rate
Investment Highlights
- Building was fully renovated in 2018
- Excellent in location in Birmingham’s Central Business District
- All new HVAC systems, electrical wiring, plumbing, and fixtures
Executive Summary
Prime Investment Opportunity! 21,000 square foot office building currently being operated as executive office suites. 54 individual office suites are currently 88.4% occupied. The building was fully renovated in 2018, which included all new HVAC systems, electrical wiring, plumbing, and fixtures. All 3 floors have common conference and break rooms.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
21,000 SF
Building Class
B
Year Built/Renovated
1904/2018
Price
$3,975,000
Price Per SF
$189.29
Cap Rate
8.44%
NOI
$335,388
Percent Leased
88%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,000 SF
Building FAR
2.96
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
B-4 - Business-Residential District
Amenities
- 24 Hour Access
- Kitchen
- High Ceilings
- Natural Light
- Reception
- Air Conditioning
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 22-00-36-2-011-018.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $211,460 |
Property Taxes
Parcel Number
22-00-36-2-011-018.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$211,460
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2024 3rd Ave N
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