NNN Vascular Surgery
1112 Gene Reed Rd Birmingham, AL 35235
For Sale
$4,980,000
Absolute NNN lease with Grandview Health for a 10-year term starting October 6, 2021.
Property Size8,696 SF
Price / SF$572.68
Days on Market431
Property Features for 1112 Gene Reed Rd
General Information
- Standard status
- Active
- Size
- 8,696 SF
Listing Agency:
Butler Evans Real Estate, Inc.
(205) 310-3799
Listed By:
Denise Evans · License #AL67727
(205) 310-3799
Source:
Exprealty
Added: May 20, 2025
Changed: Jul 23
Last Checked: Jul 23 at 11:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Butler Evans Real Estate, Inc.
Investment Insights
Based on property information with market context.
This property is an absolute NNN medical facility leased to Grandview Health. The tenant operates a vascular surgery center and acquired the site recently, with the lease start date of 10/6/21 for a 10-year term and 2% annual rent increases. The lease also includes five renewal options, each for three years. Under the structure of the lease, the tenant is responsible for all operating expenses plus structural repairs.
Additional value comes from a surplus building of approximately 1,162 square feet identified as a former pharmacy. The information provided indicates this space could be separated from the main lease and rented to another tenant.
For investors evaluating ownership, the remarks note that bonus depreciation could be in the range of $1,593,000 to $2,390,400 based on an 80% improvement to total property ratio and MOB average cost seg percentages, subject to the buyer’s tax professional’s advice. The property is located at 1112 Gene Reed Rd, Birmingham, AL.
Additional value comes from a surplus building of approximately 1,162 square feet identified as a former pharmacy. The information provided indicates this space could be separated from the main lease and rented to another tenant.
For investors evaluating ownership, the remarks note that bonus depreciation could be in the range of $1,593,000 to $2,390,400 based on an 80% improvement to total property ratio and MOB average cost seg percentages, subject to the buyer’s tax professional’s advice. The property is located at 1112 Gene Reed Rd, Birmingham, AL.
Key Highlights
- Absolute NNN lease to Grandview Health with a 10‑year term starting 10/6/21
- Current annual rent is $248,959.34 with 2% annual rent increases
- Tenant responsible for operating expenses plus structural repairs
Property Analytics
Location Intelligence
Current Use by Public Records
The Vascular Institute of Birmingham
Medical Clinic
Dr. William D. ...
Physician
William R Harvey ...
Physician
Brenton Ellisor Quinney
Physician
Children's Health System
Pediatrician
FAQs
What type of property is this?
NNN property - Absolute NNN lease with Grandview Health for a 10-year term starting October 6, 2021.
Where is this nnn property located?
The property is located at 1112 Gene Reed Rd Birmingham, AL.
What is the asking price?
The asking price for this property is $4,980,000.
What are key features of this property?
This property features: Absolute NNN lease to Grandview Health with a 10‑year term starting 10/6/21; Current annual rent is $248,959.34 with 2% annual rent increases; Tenant responsible for operating expenses plus structural repairs
