Single-Tenant Medical Office
151 Narrows Parkway, Birmingham, AL 35242
For Sale
New
$1,213,278
Fully occupied by a provider of Applied Behavior Analysis therapy, with an NNN lease structure.
Property Size4,300 SF
Lot Size1.20 Acres
Price / SF$282.16
Days on Market2
Property Features for 151 Narrows Parkway
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Highway Access
Tenant in Place
Property Use
Medical Specialty
Building Details
Building Size
Buildings
Tenancy
Listing Agency:
Cushman & Wakefield / EGS Commercial Real Estate
Listed By:
Casey Howard · License #000110233
(205) 202-0814
Source:
Egsinc
Added: Nov 8
Last Checked: Nov 8 at 5:45PM
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 Cushman & Wakefield / EGS Commercial Real Estate
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Investment Insights
Based on property information with market context.
At 151 Narrows Parkway, Building #1 is a medical office property measuring approximately 4,300 square feet on about 1.2 acres. Early Autism Services, a national provider of Applied Behavior Analysis therapy for children with autism spectrum disorder, occupies the building under a single-tenant lease. A new roof was installed in 2023. The lease has a 7.25-year initial term, with approximately 6.2 years remaining, and includes two five-year renewal options and 3% annual increases in base rent. Rent commencement is January 1, 2026; the lease is structured as NNN.
The property sits within The Narrows, a medical and office campus in unincorporated Shelby County. It is visible from the US Highway 280 corridor, which carries 41,905 vehicles per day. Other campus occupants named in the property information include Azia Medical Spa, Benchmark Physical Therapy and Narrows Podiatry.
The property sits within The Narrows, a medical and office campus in unincorporated Shelby County. It is visible from the US Highway 280 corridor, which carries 41,905 vehicles per day. Other campus occupants named in the property information include Azia Medical Spa, Benchmark Physical Therapy and Narrows Podiatry.
Key Highlights
- Approximately 4,300 SF building on approximately 1.2 acres
- 100% leased to Early Autism Services, a national ABA therapy provider
- NNN lease with a 7.25‑year initial term and approximately 6.2 years remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,490
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,089,800
$1.1M
Cap Rate 7%
$778,429
$778.4K
Cap Rate 9%
$605,444
$605.4K
Market Conditions
NOI Build-Up for 4,300 SF
Gross rent
$103.2K $24.00/SF
− Vacancy
−$12.4K −$2.88/SF
EGI
$90.8K $21.12/SF
− OpEx
−$36.3K −$8.45/SF
NOI
$54.5K $12.67/SF
Area
Birmingham, AL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,089,800
Cap Rate 7%
$778,429
Cap Rate 9%
$605,444
Alternative Uses
Best Use
Healthcare Medical
$778.4K
$681.1K – $908.2K
NOI $54,490 @ 7.0% cap · market cap 4.49%
Second Best
Office B
$737.8K
$645.6K – $860.8K
NOI $51,645 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.01M
$883.1K – $1.18M
NOI $70,651 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35242, AL
57,008
Population
25,247
Households
2.3
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
52.4 sq mi
ZIP Area
1,088
Density / Sq Mi
$116,053
Median Household Income
$59,731
Median Earnings
$1,430
Median Rent
$452,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Jefferson County, AL
Properties on Market for Medical Office Space in Jefferson County
Vacancy Rate% for Office in Birmingham, AL
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied by a provider of Applied Behavior Analysis therapy, with an NNN lease structure.
Where is this medical office space located?
The property is located at 151 Narrows Parkway Birmingham, AL.
What is the asking price?
The asking price for this property is $1,213,278.
What are key features of this property?
This property features: Approximately 4,300 SF building on approximately 1.2 acres; 100% leased to Early Autism Services, a national ABA therapy provider; NNN lease with a 7.25‑year initial term and approximately 6.2 years remaining
