Avon Place & Lakeview Parking Lot
Retail | 8.25% CAP | 21,828 SqFt
Marketing description
Cushman & Wakefield | EGS Investment Sales Group is pleased to exclusively offer the fee simple ownership of the ±21,828 SF Avon Place building and Lakeview Parking Lot (36 spaces) at the intersection of 7th Avenue South and 29th Street South in Birmingham, AL (the "Property").
The Property is a rare opportunity to acquire a strategically located historic asset in the heart of the Lakeview Entertainment District, known for its blend of Birmingham history, industrial character, and walkable dining, entertainment, and hospitality options. Located near downtown, UAB, UAB St. Vincent's, Sloss Furnaces, Highland Park, and Pepper Place, it connects several of the city's most attractive commercial, medical, educational, and residential areas. Within walking distance of UAB St. Vincent's and less than one mile from UAB's hospital and campus, the Property benefits from strong demand driven by UAB's economic impact.
The Property may also qualify for federal, state, and local tax incentives, including historic rehabilitation credits. An adjacent site is available for separate purchase, offering assemblage potential, while proximity to Forest Park, Highland Park, Mountain Brook, and Homewood adds access to some of Birmingham's most desirable and affluent residential neighborhoods.
Investment highlights
- EARLY RENEWAL & PASSIVE INCOME STREAM - The restaurant tenant has recently signed an early renewal option for the retail portion of the building, which gives them 8 years of remaining term. The parking lot provides a strong passive income stream and, together with the long-term, triple-net retail lease, accounts for roughly 70% of the property's total operating income.
- STRATEGIC LOCATION - The Property is ideally positioned off University Boulevard near the convergence of U.S. Highways 31 and 280, benefitting from combined traffic counts exceeding 100,000 vehicles per day.
- IMPACT OF UAB - UAB has an estimated $12.1 billion annual economic impact and supports more than 107,000 jobs. UAB Hospital is the 5th largest hospital in the United States, with more than 1,400 beds, with the neighboring UAB St. Vincent's adding another 409 beds.
- RARE HISTORIC OPPORTUNITY IN LAKEVIEW - The Property represents a rare opportunity to acquire a historic asset in the heart of Birmingham's Lakeview Entertainment District, one of the city's most established and popular entertainment destinations.
- SIGNIFICANT MULTIFAMILY GROWTH - Downtown Birmingham ranked No. 2 nationally in 2025 for year-over-year apartment construction growth, adding more than 1,700 new apartment units and representing a 198% increase.
- TAX INCENTIVES AND ASSEMBLAGE POTENTIAL - The Property may qualify for a variety of tax incentives, including potential historic rehabilitation incentives. Additionally, the property adjacent to the parking lot is available for sale separately and could potentially be combined with the existing site, creating a larger-scale assemblage opportunity for developers.
- PROXIMITY TO PREMIER NEIGHBORHOODS - The Property is located near some of Birmingham's most desirable residential neighborhoods, including Forest Park and Highland Park. The affluent municipalities of Mountain Brook and Homewood are also located nearby, providing access to some of the strongest demographics in the state.
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