Harbert Retail’s Casey Howard represented the seller, 2301 Morris Ave Partners, LLC, in a 1031 exchange sale of 2301 Morris Avenue, Suites 101 & 105, Birmingham, AL 35203. The property was purchased by Golden Holdings, LLC for $686,000 (7.1% cap).
Located in the historic Morris Avenue corridor in downtown Birmingham, Suites 101 &105 of 2301 Morris Avenue building are 100% leased. The building is located in an Opportunity Zone and is within easy walking distance to an abundance of restaurants and retail nearby including Mercantile on Morris, Commerce Hotel, Founder’s Station, Bamboo on 2nd, The Atomic, Helen, El Barrio, Queen’s Park, Cafe Dupont and many more.
The property was completely renovated in 2016 with high-end office buildout for the current tenant.
Built in 1924, the property is part of the W.S. Brown Mercantile Commercial Condominium Association. The namesake – W. S. Brown Mercantile Company – was a dry goods and grocery store located at 2305-2307 Morris Avenue. Morris Avenue has its own history as one of the first commercial streets in Birmingham, and includes beautiful cobblestone streets that lead up to this 1920’s era building.