2172 Pelham PkwyPelham, AL 35124

Property Details for 2172 Pelham Pkwy

Year built

1960

Construction

WOOD

Lot size

0.62 AC

Property size (Sq ft)

7,785 SF

Property type

Office properties

Property subtype

Office buildings

APN

109313001006001

APU

109313001006001

Description

This Pelham, Alabama office building presents a compelling investment opportunity. Located at 2172 Pelham Parkway (Hwy 31 S), this property boasts 8,680 total square feet, with 7,900 square feet of net rentable space across a two-story building. Currently 50% occupied with six tenants, the building offers significant potential for increased revenue. The property features 25 parking spaces and sits on a 21,160 square foot lot, zoned B-2 (General Business). Built in 1960 and 1987 with renovations in 2009, the building is classified as Class D. The asking price is $998,000, translating to approximately $114.98 per square foot based on total square footage. This high-traffic location on Highway 31, across from a Walmart Supercenter, sees 33,990 cars daily. The property benefits from easy I-65 access and high visibility due to its location on a four-lane divided highway with a median cut and a service road with a traffic signal. Adjacent acreage is also available, zoned B-2. The property is currently owned by the Frances Jackson Walker Living Trust and is being sold as an owner/user opportunity. The sale is subject to a 50% occupancy rate until October 18, 2024. This property is ideal for office warehouse or service expansion needs.

• CAP approach

  CAP return

  Valuation

  6%

  $1,646,562

  6.5%

  $1,519,903

  7%

  $1,411,338

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,268,098

  Geo Method

  $1,518,542

• Alternative Use

  Use

  Valuation

  Residential

  $1,884,680

  Hospitality

  $1,726,356

  Educational

  $1,436,308

  Medical

  $1,485,705

  Retail

  $2,234,257

Location Insight

City

Pelham

County

Shelby

State

Alabama

Latitude

33.3383

Longitude

-86.7932

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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