Second-Generation Medical Office
For Sale
Contact for pricing
1830 LEE AVE SW CULLMAN AL 35055-5265, Cullman, AL 35055
Modern 2015-built office with existing clinical infrastructure and an Edward Jones lease for immediate income options.
Property Size6,955 SF
Price / SF$301.94
Days on Market60
Property Features for 1830 LEE AVE SW CULLMAN AL 35055-5265
General Information
Standard status
Active
Size
6,955 SF
Property subtype
Office
Building Details
Year Built
2015
Listing Agency:
Lincoln Holdings
Listed By:
Katy Lincoln · License #AL 100712
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 5 at 3:12PM
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 Lincoln Holdings
Investment Insights
Based on property information with market context.
1830 Lee Avenue SW presents a second-generation medical office building constructed in 2015. The property is described as featuring high-quality finishes, existing clinical infrastructure, and a functional layout intended to support medical and professional uses. For an owner-user, the improvements are already in place, which can help reduce the need for extensive renovation compared with a shell or traditional office configuration.
The building is located along an active commercial corridor in Cullman, Alabama, where tenants and patients can benefit from established professional activity in the area. The property also has existing leasing in place through an Edward Jones lease.
With a mix of medical-focused infrastructure and practical office space design, the asset is well suited for operators seeking a turnkey approach to occupancy. Current leasing provides immediate rental income, while the remaining space may support an owner-user’s plans or future leasing strategies. This makes the property particularly compelling for buyers looking to purchase a modern medical office building that can support both occupied use and income generation from the start.
The building is located along an active commercial corridor in Cullman, Alabama, where tenants and patients can benefit from established professional activity in the area. The property also has existing leasing in place through an Edward Jones lease.
With a mix of medical-focused infrastructure and practical office space design, the asset is well suited for operators seeking a turnkey approach to occupancy. Current leasing provides immediate rental income, while the remaining space may support an owner-user’s plans or future leasing strategies. This makes the property particularly compelling for buyers looking to purchase a modern medical office building that can support both occupied use and income generation from the start.
Key Highlights
- 2015‑built medical/professional office building at 1830 Lee Avenue SW
- Existing clinical infrastructure and functional layout for medical and professional users
- Features high‑quality finishes with improvements already in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,504
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,080
$1.2M
Cap Rate 7%
$864,343
$864.3K
Cap Rate 9%
$672,267
$672.3K
Market Conditions
NOI Build-Up for 6,955 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$112.7K $16.20/SF
− Vacancy
−$11.8K −$1.70/SF
EGI
$100.8K $14.50/SF
− OpEx
−$40.3K −$5.80/SF
NOI
$60.5K $8.70/SF
Area
Cullman County, AL
Vacancy
10.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,080
Cap Rate 7%
$864,343
Cap Rate 9%
$672,267
Alternative Uses
Best Use
Healthcare Medical
$864.3K
$756.3K – $1.01M
NOI $60,504 @ 7.0% cap · market cap 2.88%
Second Best
Office B
$788.7K
$690.1K – $920.2K
NOI $55,209 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$1.03M
$897.2K – $1.20M
NOI $71,776 @ 7.0% cap · market cap 3.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35055, AL
22,299
Population
10,664
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
88%
High-School Grad
63.8 sq mi
ZIP Area
350
Density / Sq Mi
$58,488
Median Household Income
$40,079
Median Earnings
$934
Median Rent
$195,400
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Modern 2015-built office with existing clinical infrastructure and an Edward Jones lease for immediate income options.
Where is this medical office space located?
The property is located at 1830 LEE AVE SW CULLMAN AL 35055-5265 Cullman, AL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 2015‑built medical/professional office building at 1830 Lee Avenue SW; Existing clinical infrastructure and functional layout for medical and professional users; Features high‑quality finishes with improvements already in place
