Downtown Tuscaloosa Investment
2711 Gary Fitts Street, Tuscaloosa, AL 35401
Mixed-use investment property with regional credit tenant.
Type:Mixed Use
Property size:
4,630 SFPrice / SF:
$259/SF- Added:
- Sep 19, 2024
- Days on Market:
- 603
- Last Refresh:
- Apr 1 at 8:52 pm
Property Features for 2711 Gary Fitts Street
General Information
- Standard status
- Active
- Size
- 4,630 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1887
Listing agent Denise Evans
Listing office Butler Evans Real Estate, Inc. (205) 310-3799
Listing date Sep 19, 2024
Source Xome
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.
HighLights
- NNN lease with a regional credit tenant (South Oak Title)
- Almost 8% IRR with realistic disposition sales price at the end of Year 5
- Annual rent increases, with $5,500 per month starting 9/1/25
- Five‑year lease commenced 8/23/24, with one five‑year renewal option
- Estimated first‑year bonus depreciation of $240,000 (subject to buyer's tax professional advice)
- Zoned Downtown District
Overview
This investment property, zoned Downtown District, features a tenant, South Oak Title, a regional credit tenant with offices in multiple SE states. The five-year NNN lease commenced on 8/23/24, and includes one five-year renewal option and annual rent increases, with rent at $5,500 per month starting 9/1/25. The property offers an IRR of almost 8% with a realistic disposition sales price at the end of Year 5 and 5% sales costs. The property size is 4,630 square feet. Estimated first year bonus depreciation is $240,000 (not intended for reliance and subject to buyer's advice from its own tax professionals).
Location Intelligence
Current Use by Public Records
Office Units
Map
- City
- Tuscaloosa
- County
- Tuscaloosa
- State
- Alabama
- Longitude
- -87.6118
- Latitude
- 33.1664
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use investment property with regional credit tenant.
Where is this mixed-use property located?
The property is located at 2711 Gary Fitts Street Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: NNN lease with a regional credit tenant (South Oak Title); Almost 8% IRR with realistic disposition sales price at the end of Year 5; Annual rent increases, with $5,500 per month starting 9/1/25
