Harbert Retail’s Casey Howard successfully represented the seller in the $1.6M (7.9% cap) investment sale of a prominent mixed-use retail and office building located at 115 Richard Arrington Jr Blvd North, in the heart of Downtown Birmingham’s Central Business District, and home to Buzz Daily Coffee, Strive Consulting, About Town Publishing, and Austin Law Firm among others.
This 10,800sf historic asset—currently 92% leased—has seen over $550,000 in transformative capital improvements in just the past 18 months— contributing to its repositioning as a turnkey investment opportunity for the new owners.
Positioned adjacent to the bustling 1st Avenue North corridor, the property enjoys proximity to some of the city’s most iconic landmarks, including The Florentine, City Federal Building, Helen Restaurant, and The Kelly Hotel.
