2024 3rd Ave N - Office FOR SALE


Birmingham, AL 35203- Central City
$3,975,000 USD
205-326-2222
2024 3rd Ave N, Birmingham, AL for Sale
$3,975,000 USD
Office - FOR SALE
1/19
null | 8.4% Cap Rate

2024 3rd Ave N
Birmingham, AL 35203
Central City


HIGHLIGHTS

  • 8.4% cap rate
  • Renovated in 2018

OVERVIEW

This 21,000 square foot office building is currently operated as executive office suites, with 54 individual office suites, 88.4% of which are occupied. At 88% occupancy, the total annual rent is $397,800, while total annual expenses amount to $62,412, resulting in an actual NOI of $335,388 and an 8.4% cap rate. The building was fully renovated in 2018, with updates including new HVAC systems, electrical wiring, plumbing, and fixtures. All three floors feature common conference and break rooms. The property is located in an excellent area within Birmingham’s Central Business District.

FOR SALE DETAILS

PRICE

$3,975,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

8.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1904

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,001 SF

ZONING

B4

APN/PARCEL ID

22-00-36-2-011-018.000

ASK ABOUT THIS PROPERTY

Rich VanchinaTessa Commercial Real EstateMore Info
205-326-2222

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Rich VanchinaTessa Commercial Real EstateMore Info
205-326-2222

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