1905 Park Pl
4,700 SF 100% Leased Retail Building Birmingham, AL 35203 $1,527,787 CAD ($325.06 CAD/SF) 7.35% Cap Rate
INVESTMENT HIGHLIGHTS
- DESIRABLE INVESTMENT MARKET EXPERIENCING UNPRECEDENTED GROWTH
- TRANSIT-ORIENTED LOCATION
- NNN LEASES IN-PLACE
- VALUE-ADD OR OWNER USER OPPORTUNITY
- HISTORIC CITY CENTER
- HARD CORNER POSITIONING AT SIGNALIZED INTERSECTION
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,700 SF
Building Class
C
Year Built/Renovated
1949/1979
Price
$1,527,787 CAD
Price Per SF
$325.06 CAD
Cap Rate
7.35%
NOI
$112,269 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.98
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
B-4
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 22-00-36-2-022-002.000 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $145,525 CAD |
