Birmingham, AL - Multi-Tenant Office/Retail Condo

Description:

SRS Real Estate Partners is pleased to exclusively present an investment offering to acquire a multi-tenant office and retail condo in a fantastic downtown location in Birmingham, Alabama, with a strong upside. 201 18th Street S was constructed in 1910 on 0.32 acres and renovated in 2020 to bring new energy and life to the asset. The largest space, unit 103, is occupied by a coffee shop and has multiple renewal options after its initial lease expires. The second-largest space, unit 101, will be occupied by a Dentist with multiple renewal options incorporated. The incoming tenant will provide dental services and would compliment both the existing tenant and the surrounding area. The landlord is currently completing work on the first two spaces, and the commencement date will take place upon completion of the work. There is also a 1,643-square-foot vacant shell space that presents strong value-add potential through a strategic lease-up.

An investor will benefit from the property's positioning within a designated Opportunity Zone, offering an investor potential federal capital gains tax incentives. Additionally, the asset is located within a new business improvement district (BID), which includes the expansion of the downtown CAP "clean and safe" program.

201 18th Street S is located along 18th Street S and 2nd Avenue S in Birmingham's Five Points South neighborhood. The asset is positioned one block from the Hilton Garden Inn Birmingham Downtown and the Home2 Suites by Hilton Birmingham Downtown, drawing foot traffic to the property. There are numerous large-scale multifamily buildings within a half-mile radius, including Citizen, Birmingham Parkside, 20 Midtown, and Station 121, providing a steady customer base for tenants. In addition, the property is close to the University of Alabama at Birmingham, one of Alabama's premier universities, and Regions Field, the home of the MLB Double-A Birmingham Barons.

The property is easily accessible to residents in downtown Birmingham as well as those commuting from the Birmingham Metro. The property is convenient to Route 78 (Future Route 11), Interstates 65 and 20, and Route 280. The Birmingham-Shuttlesworth International Airport is reachable in under 15 minutes by Car, and the Birmingham Amtrak Station is just four blocks away.