Today’s profile is a NN office condo for sale in downtown Birmingham, Alabama. The space is in a circa 1924 building that sits within a U.S. Department of Treasury designated opportunity zone off of historic Morris Ave. Tenant improvements were made in 2016.
Morris Ave is full of history
As you can imagine, this is an area rich with history. The office is part of the W.S. Brown Mercantile Commercial Condominium Association, whose namesake – W. S. Brown Mercantile Company – was a dry goods and grocery store located at 2305-2307 Morris Avenue.
Morris Avenue was one of the first commercial streets in Birmingham and has beautiful cobblestone streets that lead up to the building!
It is also very close to high-traffic U.S. 280 and retailers such as Chick-fil-A, Cadence Bank, and Publix.
The current lease expires in 2021, so this is also a great opportunity to purchase, re-lease, and raise the effective cap rate!