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Medical Office Building Investment Opportunity

1009 Montgomery Highway,
Vestavia Hills, AL 35216

$3,750,000
  • Vestavia Hills, AL Medical Office Investment Opportunity
  • Medical Office Building Investment Opportunity Vestavia Hills, AL
  • Medical Office Building Investment Property For Sale Vestavia Hills, AL

Property Information

Executive Summary:

  • Parcel: 28-00-30-2-021-006.000
  • Total Building Square Footage: Approximately 16,169 SF
  • Total Rentable Square Footage: Approximately 14,423 SF
  • Total Acreage: 2.01± AC
  • Parking: 8.6:1,000 (124 Parking Spaces)
  • Year Built: 1977
  • Year Renovated: 2003 (Completely gutted and renovated)
  • Current Total Occupancy: 100%
  • Current NOI: $221,297.63
  • Cap Rate: 5.9%

Property Highlights:

  • Centrally located directly off of Highway 31 in Vestavia Hills
  • Adjacent to new $21M, 40,000-square-foot multi-specialty Swaid Clinic, which opened in January 2020
  • Long-term tenants- majority have been in place for 17+ years
  • Building was completely gutted and renovated in 2003
  • Roof was replaced in November 2019
  • 3 of the HVAC units were replaced in the last five years
  • Rear surface parking lot was paved in 2020, bringing the parking ratio to 8.6:1,000
  • Approximately 70% of the tenancy extended their leases for 5-7 years as of January 1, 2022
  • The two main level suites share a waiting area, which has had new LVT flooring installed recently
  • Suite 200 has also recently received new LVT flooring & paint

Share Property

Contact:

Alyssa Waters
awaters@southpace.com
205-271-7550

Stephanie Hill Director of Marketing & Research Southpace Properties

Contact:

Stephanie Hill
shill@southpace.com
205-271-7228