Medical Office Building For
For Sale
$1,575,000
300 1st Street North, Alabaster, AL 35007
100% occupied medical office building near Shelby Baptist Medical Center.
Property Size11,800 SF
Lot Size3.50 Acres
Days on Market242
Property Features for 300 1st Street North
General Information
Standard status
Active
Size
11,800 SF
Class
B
Lot size
3.50 Acres
Property subtype
Office
Building Details
Building Size
11,800 SF
Listing Agency:
Ironvest Partners
Listed By:
Bart Moore · License #0001434130
(205) 936-4041
Source:
Ironvestpartners
Added: Feb 25
Changed: Oct 23
Last Checked: Oct 24 at 1:50PM
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 Ironvest Partners
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Investment Insights
Based on property information with market context.
This is a rare opportunity to purchase a 100% occupied medical office building. The concrete frame, three-tenant building is located in Alabaster, AL, and sits on 3.5 acres. It is situated only 0.3 miles from Shelby Baptist Medical Center. The property offers the opportunity to significantly improve net operating income. Large parking areas are available in the front and rear of the building. The property has three long-term tenants.
Key Highlights
- 100% Occupied Medical Office Building
- Enjoy an attractive 8.07 CAP Rate
- Located just .3 Miles from Shelby Baptist Medical Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,254
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,485,080
$2.5M
Cap Rate 7%
$1,775,057
$1.8M
Cap Rate 9%
$1,380,600
$1.4M
Market Conditions
NOI Build-Up for 11,800 SF
Gross rent
$212.4K $18.00/SF
− Vacancy
−$46.7K −$3.96/SF
EGI
$165.7K $14.04/SF
− OpEx
−$41.4K −$3.51/SF
NOI
$124.3K $10.53/SF
Area
Shelby County, AL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,485,080
Cap Rate 7%
$1,775,057
Cap Rate 9%
$1,380,600
Alternative Uses
Best Use
Healthcare Medical
$2.28M
$2.00M – $2.66M
NOI $159,682 @ 7.0% cap · market cap 10.14%
Second Best
Office B
$1.78M
$1.55M – $2.07M
NOI $124,254 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,879 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35007, AL
28,274
Population
10,634
Households
2.7
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
725
Density / Sq Mi
$86,994
Median Household Income
$47,572
Median Earnings
$1,348
Median Rent
$231,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Shelby Animal Clinic — 516 Hwy 119, Alabaster, AL 35007
Frequently Asked Questions
What type of property is this?
Medical Office Space - 100% occupied medical office building near Shelby Baptist Medical Center.
Where is this medical office space located?
The property is located at 300 1st Street North Alabaster, AL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 100% Occupied Medical Office Building; Enjoy an attractive **8.07 CAP Rate**; Located just .3 Miles from Shelby Baptist Medical Center
