1905 Park Pl - Freestanding FOR SALE


Birmingham, AL 35203- Fountain Heights
$1,064,000 USD
508-272-0585
1905 Park Pl, Birmingham, AL for Sale
$1,064,000 USD
Freestanding - FOR SALE
1/4
null | 7.35% Cap Rate

1905 Park Pl
Birmingham, AL 35203
Fountain Heights


HIGHLIGHTS

  • DESIRABLE INVESTMENT MARKET EXPERIENCING UNPRECEDENTED GROWTH
  • VALUE-ADD OR OWNER USER OPPORTUNITY
  • TRANSIT-ORIENTED LOCATION
  • HISTORIC CITY CENTER
  • NNN LEASES IN-PLACE
  • HARD CORNER POSITIONING AT SIGNALIZED INTERSECTION

OVERVIEW

Atlantic Capital Partners has been exclusively engaged to sell 1905 Park Place, a two-tenant retail strip center located in the heart of Downtown Birmingham. 1905 Park Place presents a prime opportunity for investors and owner users looking to establish a presence in one of the city’s most desirable commercial districts. Located in the heart of the Historic City Center neighborhood of Birmingham, this property benefits from high foot traffic, proximity to major attractions like Legacy Arena and Protective Stadium, and easy access to public transportation. The space is ideal for a variety of retail uses, from boutique shops to high-end dining or service-based businesses, offering excellent visibility and a prestigious address. The asset is 100% leased to two tenants on NNN leases. Spice of Life Jamaican Restaurant signed a 5-year lease in October of 2023, currently paying $50,500 with 3% annual increases and the next rent escalation scheduled for October 2025. DMCR Jefferson LLC signed a two-year lease in September of 2023 and is currently set to expire in August 2025. This represents an opportunity to boost NOI through programmatic leasing, allowing an investor to realize an increased yield on the asset.

FOR SALE DETAILS

PRICE

$1,064,000 USD

PRICE/SF

$380 USD /SF

CAP RATE

7.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

B-4

APN/PARCEL ID

22-00-36-2-022-002.000

ASK ABOUT THIS PROPERTY

Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.