Medical Center with NN
For Sale
$1,575,457
1989 Montgomery Highway, Hoover, AL 35244
Renovated outpatient healthcare facility occupied by an Urgent Team operator under a long-term NN lease.
Property Size3,180 SF
Days on Market47
Property Features for 1989 Montgomery Highway
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
±7.92
Net Operating Income
$110,282
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,180 SF
Year Renovated
2022
Buildings
1
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services
Listed By:
Antonio Diona · License #02037030 (CA)
(818) 923-6366
Source:
Matthews
Added: Sep 16
Changed: Oct 26
Last Checked: Nov 1 at 2:15AM
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 Matthews Real Estate Investment Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical center at 1989 Montgomery Highway in Hoover, Alabama, underwent a complete renovation in 2022. The property is occupied by an Urgent Team location, part of a healthcare network with approximately 85+ centers across multiple states. The tenant executed a new 10-year NN lease when the renovation was completed, with 8 years remaining. A corporate guaranty supports the tenancy, while the lease requires the tenant to reimburse taxes, insurance, and CAM and maintain most aspects of the premises. Annual rent increases are set at 1%.
The property is positioned along Montgomery Highway, which carries over 27K+ VPD, within a retail corridor anchored by Walmart, Lowe’s, Publix, Aldi, CVS, Walgreens, Costco, and other national tenants. Nearby medical facilities include UAB Medicine Hoover Primary and Specialty Care Hospital, with 1,157 beds, and Shelby Baptist Medical Center, with 252 beds. The average household income within a 5 mile radius is over $109,592.
The property is positioned along Montgomery Highway, which carries over 27K+ VPD, within a retail corridor anchored by Walmart, Lowe’s, Publix, Aldi, CVS, Walgreens, Costco, and other national tenants. Nearby medical facilities include UAB Medicine Hoover Primary and Specialty Care Hospital, with 1,157 beds, and Shelby Baptist Medical Center, with 252 beds. The average household income within a 5 mile radius is over $109,592.
Key Highlights
- Urgent Team tenant with approximately 85+ locations across multiple states
- New 10‑year NN lease executed in 2022; 8 years remaining
- Corporate guaranty and 1% annual rental increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,960
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,200
$1.1M
Cap Rate 7%
$770,857
$770.9K
Cap Rate 9%
$599,556
$599.6K
Market Conditions
NOI Build-Up for 3,180 SF
Gross rent
$101.5K $31.92/SF
− Vacancy
−$11.6K −$3.64/SF
EGI
$89.9K $28.28/SF
− OpEx
−$36.0K −$11.31/SF
NOI
$54.0K $16.97/SF
Area
Jefferson County, AL
Vacancy
11.40%
Lease Rate
$31.92 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,200
Cap Rate 7%
$770,857
Cap Rate 9%
$599,556
Alternative Uses
Best Use
Healthcare Medical
$770.9K
$674.5K – $899.3K
NOI $53,960 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$957.2K – $1.28M
NOI $76,579 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 35244, AL
37,448
Population
15,189
Households
2.5
Avg Household Size
39
Median Age
60%
College-Educated
97%
High-School Grad
23.9 sq mi
ZIP Area
1,567
Density / Sq Mi
$114,172
Median Household Income
$61,660
Median Earnings
$1,413
Median Rent
$390,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Medical center - Renovated outpatient healthcare facility occupied by an Urgent Team operator under a long-term NN lease.
Where is this medical center located?
The property is located at 1989 Montgomery Highway Hoover, AL.
What is the asking price?
The asking price for this property is $1,575,457.
What are key features of this property?
This property features: Urgent Team tenant with approximately 85+ locations across multiple states; New 10‑year NN lease executed in 2022; 8 years remaining; Corporate guaranty and 1% annual rental increases
