Medical Office Space
For Sale
$1,350,000
3055 Lorna Road, Hoover, AL 35216
Medical office space in Hoover, near major highways.
Property Size8,805 SF
Price / SF$562.50
Days on Market224
Property Features for 3055 Lorna Road
General Information
Standard status
Active
Size
8,805 SF
Class
B
Property subtype
Office
Building Details
Building Size
8,805 SF
Listed By:
Christopher Thames, SIOR, CCIM, CPM
(205) 313-4378
Source:
Jhberry
Added: Mar 5
Changed: Oct 15
Last Checked: Oct 14 at 9:38PM
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 Christopher Thames, SIOR, CCIM, CPM
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Investment Insights
Based on property information with market context.
This commercial property offers 2,400 square feet of medical office space. The property is located in Hoover, Alabama, near the intersection of I-65 and Highway 31, providing convenient access to major transportation routes including Highway 31, I-65, and I-459. The existing tenant mix includes medical professionals. The available space includes two restrooms and two storage closets. Ample parking is available for tenants and visitors.
Key Highlights
- Prime Location: Hoover, near I‑65 and Hwy. 31, offering excellent accessibility.
- Ample Parking: Ensures convenient access for patients and staff.
- Benefit from synergy and referrals within a medical community.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,294
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$845,880
$845.9K
Cap Rate 7%
$604,200
$604.2K
Cap Rate 9%
$469,933
$469.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$63.6K $26.52/SF
− Vacancy
−$7.3K −$3.02/SF
EGI
$56.4K $23.50/SF
− OpEx
−$14.1K −$5.87/SF
NOI
$42.3K $17.62/SF
Area
Jefferson County, AL
Vacancy
11.40%
Lease Rate
$26.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$845,880
Cap Rate 7%
$604,200
Cap Rate 9%
$469,933
Alternative Uses
Best Use
Office B
$604.2K
$528.7K – $704.9K
NOI $42,294 @ 7.0% cap · market cap 3.13%
Second Best
Healthcare Medical
$581.8K
$509.1K – $678.8K
NOI $40,725 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$825.6K
$722.4K – $963.3K
NOI $57,795 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35216, AL
36,673
Population
16,333
Households
2.2
Avg Household Size
35
Median Age
53%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
2,821
Density / Sq Mi
$73,125
Median Household Income
$42,767
Median Earnings
$1,314
Median Rent
$376,200
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
- Steel City Emergency Vets — 1900 Hoover Ct, Hoover, AL 35226
- UrgentVet — 1539 Montgomery Hwy Suite 109, Hoover, AL 35216
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space in Hoover, near major highways.
Where is this medical office space located?
The property is located at 3055 Lorna Road Hoover, AL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime Location: Hoover, near I‑65 and Hwy. 31, offering excellent accessibility.; Ample Parking: Ensures convenient access for patients and staff.; Benefit from synergy and referrals within a medical community.
