Birmingham Vascular Surgery Center For
1112 Gene Reed Road, Birmingham, AL 35235
SINGLE_FAMILY - Birmingham, AL
Type:Office
Property size:
8,696 SFLot size:
1.21 AcresPrice / SF:
$572/SF- Added:
- May 20, 2025
- Days on Market:
- 362
- Last Refresh:
- May 16 at 5:06 pm
Property Features for 1112 Gene Reed Road
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- APN
- 01-24-00-06-1-005-003.000
- Size
- 8,696 SF
- Lot size
- 1.21 Acres
Taxes and HOA fees
- Tax Description
- Lot 3-A of a Resurvey of Lot 3 of a Resurvey of H. H. Garner Subdivision in Map Book 150, Page 10 of the books and records of the Probate Judge of Jefferson County, Alabama. SOT at Instrument #2021116491
- Tax Annual Amount
- 27208
Building Details
- Year built
- 1985
- Number of units
- 1
Listing agent Denise Evans License #AL67727 (205) 310-3799
Listing office Butler Evans Real Estate, Inc. 10439 Haun Drive, Tuscaloosa, AL (205) 310-3799
Listing date May 20, 2025
MLS# 168855
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Absolute NNN lease with tenant responsible for all operating expenses plus structural repairs.
- Tenant is a vascular surgery center recently acquired by Grandview Health.
- Value‑add opportunity with 1,162 sf surplus building (former pharmacy) that can be separated and rented.
- Potential for significant first‑year bonus depreciation, estimated between $1,593,000 and $2,390,400.
- Current annual rent is $248,959.34 with 2% annual rent increases.
- Lease started 10/6/21 for a 10‑year term with 5 renewal options for 3 years each.
Overview
This property is a vascular surgery center operating under an absolute NNN lease. The tenant, a vascular surgery center, was recently acquired by Grandview Health. The lease commenced on 10/6/21 for a 10-year term, featuring 2% annual rent increases. The current annual rent is $248,959.34. The lease includes 5 renewal options, each for 3 years. The tenant is responsible for all operating expenses, including structural repairs. A value-add opportunity exists with a 1,162 square foot surplus building, formerly a pharmacy, that could be separated from the main lease and rented to another tenant. The property is situated on a 1.21-acre lot. The main building has 8,696 square feet. Based on an 80% improvement to total property ratio and MOB average cost segregation percentages, first-year bonus depreciation could range from $1,593,000 to $2,390,400, depending on the buyer's tax professional's advice. The property is located in Birmingham, Alabama.
Property Profile
Insight Report
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
Location Insight
- Map
- Local Demand
- City
- Birmingham
- County
- Shelby
- State
- Alabama
- Longitude
- -86.68192
- Latitude
- 33.587286
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - NNN leased vascular surgery center with value-add opportunity.
Where is this medical office space located?
The property is located at 1112 Gene Reed Road 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 with tenant responsible for all operating expenses plus structural repairs.; Tenant is a vascular surgery center recently acquired by Grandview Health.; **Value‑add opportunity with 1,162 sf surplus building (former pharmacy) that can be separated and rented.**
