Overview

Description

SRS Real Estate Partners is pleased to exclusively present 1030 20th Street S, a fully leased storefront retail asset located in the heart of Birmingham, Alabama. 1030 20th Street S is currently under renovation, with an expected completion around the end of August. The two spaces have been pre-leased to dynamic and lively tenants who will begin operations at the end of September and will begin paying rent in early 2025. One tenant runs an apparel shop, while the other operates a restaurant. Both are excellent new tenants in an emerging area. An investor will benefit from the fully leased aspect of the property and the property's positioning within a US-designated Opportunity Zone, offering an investor potential federal capital gains tax incentives.

The property is ideally situated at the nucleus of the Five Points South Entertainment District, an energetic and historic neighborhood next to the University of Alabama Birmingham (UAB), with award-winning James Beard restaurants, nightlife, live music venues, minor league sports, and much more. The neighborhood is a highly walkable and desirable Birmingham location that sees heavy foot traffic, and the subject property is exposed to well over 14,000 vehicles passing by daily. The immediate 3-mile radius had a 2023 population of more than 84,800 residents, 45% of which have a bachelor's degree or higher, with a strong average annual household income of over $85,000 and total specified consumer spending just below $1 billion annually.

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