115 Richard Arrington Jr Blvd N
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115 Richard Arrington Jr Blvd N
10,800 SF 92% Leased Office Building Birmingham, AL 35203 £1,409,940 (£131/SF) 7.90% Net Initial Yield
Executive Summary
Mixed-Use Investment Opportunity in Downtown Birmingham.
Newly renovated in 2023
Windows on three (3) sides
Two (2) parking spaces on site; multiple surface lots and city parking decks 1 to 2 blocks away
Over $550 K in major capital improvements completed in the past 12 months
92% occupied.
Building has three stories:
1st Floor: Office/Retail
2nd and 3rd Floors: Office
Tenants:
Daily Buzz Coffee, Greatland Mortgage, Strive Consulting and more
In Place NOI: $141,373 per year
2023 Renovations include:
* New HVAC units
* New windows on 2nd and 3rd floors
* New elevator
* Built out offices
* Paint and Flooring
* Updated sprinkler system
Newly renovated in 2023
Windows on three (3) sides
Two (2) parking spaces on site; multiple surface lots and city parking decks 1 to 2 blocks away
Over $550 K in major capital improvements completed in the past 12 months
92% occupied.
Building has three stories:
1st Floor: Office/Retail
2nd and 3rd Floors: Office
Tenants:
Daily Buzz Coffee, Greatland Mortgage, Strive Consulting and more
In Place NOI: $141,373 per year
2023 Renovations include:
* New HVAC units
* New windows on 2nd and 3rd floors
* New elevator
* Built out offices
* Paint and Flooring
* Updated sprinkler system
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
10,800 SF
Building Class
B
Year Built/Renovated
1910/2023
Price
£1,409,940
Price Per SF
£131
Net Initial Yield
7.90%
NOI
£111,385
Percent Leased
92%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
3,600 SF
Slab to Slab
12 ft
Building FAR
2.76
Lot Size
0.09 AC
Opportunity Zone
Yes
Zoning
B-4
Amenities
- 24 Hour Access
- Controlled Access
- Conferencing Facility
- Kitchen
- Central Heating
- Natural Light
- Partitioned Offices
- Plug & Play
- Reception
- Recessed Lighting
- Wooden Floors
Walk Score ®
Walker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 22-00-36-1-040-012.000 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £115,129 |
PROPERTY TAXES
Parcel Number
22-00-36-1-040-012.000
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£115,129
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115 Richard Arrington Jr Blvd N
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