1823 3Rd AveBessemer, AL 35020

Property Details for 1823 3Rd Ave

Year built

1900

Lot size

0.08 AC

Property size (Sq ft)

2,500 SF

Zone code

C2

Property type

Office properties

APN

38-00-09-1-011-005.002

APU

3800091011005002

Description

This exceptional 2,500 square foot office building presents a compelling investment opportunity in the heart of Bessemer, Alabama. Located on the same block as the courthouse, this property enjoys an unparalleled location for legal professionals, ensuring consistent demand. The building has recently undergone a complete rehabilitation, boasting a brand-new HVAC system, fresh paint throughout, updated floor coverings, and a new roof. This ensures low maintenance costs and immediate occupancy for tenants. The current configuration allows for individual room rentals, providing flexibility and maximizing rental income potential. The 0.08-acre lot offers ample space for parking or future expansion. The asking price of $276,000 represents a strong return on investment given the prime location, recent renovations, and the consistently high demand for office space near the courthouse. This property is ideal for investors seeking a stable, income-generating asset in a thriving downtown area. The building's strategic location and recent upgrades make it a truly exceptional opportunity in the Bessemer commercial real estate market. Don't miss this chance to acquire a high-value property with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $528,761

  6.5%

  $488,087

  7%

  $453,224

• Comparable approach

  Method

  Valuation

  Relative Method

  $407,225

  Geo Method

  $487,650

• Alternative Use

  Use

  Valuation

  Residential Income

  $605,228

  Hospitality / Lodging

  $554,385

  Institutional / Educational

  $461,242

  Healthcare / Senior Housing

  $477,105

  Retail / Commercial

  $717,488

Location Insight

City

Bessemer

County

Jefferson

State

Alabama

Latitude

33.402

Longitude

-86.9536

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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