NNN Vascular Surgery
For Sale
$4,980,000
1112 Gene Reed Road, Birmingham, AL 35235
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 Market103
Property Features for 1112 Gene Reed Road
General Information
Standard status
Active
Size
8,696 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$27,207
Building Details
Year Built
1985
Listing Agency:
Butler Evans Real Estate, Inc.
(205) 310-3799
Listed By:
Denise Evans · License #AL67727
(205) 310-3799
Source:
Exitrealty
Added: May 14
Changed: Aug 23
Last Checked: Aug 24 at 3:15AM
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 35235, AL
20,059
Population
8,944
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
92%
High-School Grad
13.5 sq mi
ZIP Area
1,486
Density / Sq Mi
$57,244
Median Household Income
$35,809
Median Earnings
$1,220
Median Rent
$165,900
Median Home Value
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Frequently Asked Questions
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 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 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
