1037 3Rd AveBirmingham, AL 35204
- Turn key restaurants
- 5,112 SF
Property Details for 1037 3Rd Ave
- Year built
- 1967
- Lot size
- 0.95 AC
- Property size (Sq ft)
- 5,112 SF
- Zone code
- B2
- Property type
- Turn key restaurants
- APN
- 29-00-04-1-014-003.000
- APU
- 2900041014003000
Description
This exceptional 0.95-acre commercial property located at 1037 3rd Avenue West in Birmingham, Alabama, presents a unique investment opportunity. Priced at $350,000, this property offers a multitude of potential uses due to its versatile nature and prime location. The substantial lot size provides ample parking, a significant advantage in a high-traffic area. The existing structure presents a "diamond in the rough" opportunity for redevelopment. Envision the possibilities: a thriving event center, a beautiful wedding chapel, a respected funeral home, a bustling restaurant, a vibrant retail shopping center, or modern office space. The high volume of traffic ensures excellent visibility and accessibility for any chosen business venture. The almost one-acre lot provides significant flexibility for expansion or future development. This property is ideally suited for an entrepreneur or investor seeking a high-return project with considerable upside potential. The location's strong traffic flow and ample parking make it an attractive proposition for a wide range of commercial uses. Don't miss this chance to acquire a versatile and strategically located commercial property in a dynamic Birmingham neighborhood.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,249,030
- 6.5%
- $1,152,950
- 7%
- $1,070,600
-
Comparable approach
- Method
- Valuation
- Relative Method
- $866,001
- Geo Method
- $1,037,030
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $2,261,630
- Mixed-Use / Specialty
- $1,143,490
- Hospitality / Lodging
- $831,964
- Office
- $1,131,110
- Institutional / Educational
- $1,186,850
- Residential Income
- $1,388,610
- Multifamily
- $1,695,130
- Automotive / Energy
- $1,017,300
- Parking / Income-Based Land
- $356,351
- Restaurant / Food Service
- $583,302
- Healthcare / Senior Housing
- $1,178,120
Location Insight
- City
- Birmingham
- County
- Jefferson
- State
- Alabama
- Latitude
- 33.5049
- Longitude
- -86.8542
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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