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2189 Parkway Lake Dr

12,393 SF 100% Leased Office Building Birmingham, AL 35244 $1,905,000 ($154/SF) 7.10% Cap Rate

Office Space Alabama Birmingham 2189 Parkway Lake Dr, Birmingham, AL 35244

Investment Highlights

  • The building is priced below replacement cost.
  • Built in 1988, but renovated within the last few years.
  • Upstairs is roughly 7,290 SF and the bottom is roughly 5,103 SF with 2,500 +/- SF of that being warehouse space with 14 foot clear heights.

Executive Summary

This professional office building is situated in Shelby County, AL. This suburban location is a major hub for some of Birmingham’s most prominent companies, housing multiple corporate headquarters. The building is located just between Hwy 31 and Riverchase Parkway East in Hoover, only minutes off of I-65 and just 18 minutes from downtown Birmingham. Fully leased to Star Asset Security, the lease escalates by 2.5% per year.

Attachments

Brochure

Property Facts

Sale Type
Investment NNN
Property Type
Office
Building Size
12,393 SF
Building Class
C
Year Built
1988
Price
$1,905,000
Price Per SF
$154
Cap Rate
7.10%
NOI
$135,255
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,393 SF
Building FAR
0.25
Land Acres
1.12 AC
Zoning
C1 - Commercial
Parking
105 Spaces (8.47 Spaces per 1,000 SF Leased)
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PROPERTY TAXES

Parcel Number 10-4-19-0-001-001-022 Improvements Assessment $0
Land Assessment $0 Total Assessment $238,320

PROPERTY TAXES

Parcel Number
10-4-19-0-001-001-022
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$238,320
(205) 598-8382

  • Listing ID: 32795281

  • Date on Market: 8/14/2024

  • Last Updated:

  • Address: 2189 Parkway Lake Dr, Birmingham, AL 35244

More public record information on 2189 Parkway Lake Dr, Birmingham, AL 35244

The Office Property at 2189 Parkway Lake Dr, Birmingham, AL 35244 is currently available For Sale. Contact IronVest Partners for more information.

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2189 Parkway Lake Dr
(205) 598-8382 x

2189 Parkway Lake Dr

Robert Crook

(205) 598-8382

(205) 598-8382

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