Turnkey Medical Office
For Sale
Contact for pricing
4280 Watermelon Road, Northport, AL 35473
Built in 2019, the property includes eight exam rooms, a dedicated Fluoro Suite, and on-site lab space.
Property Size4,882 SF
Price / SF$430.15
Days on Market144
Property Features for 4280 Watermelon Road
General Information
Standard status
Active
Size
4,882 SF
Class
A
Property subtype
Office
Zoning
OI
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Additional Details
Business Included
Yes
Building Details
Year Built
2019
Year Renovated
2019
Buildings
1
Tenancy
Single
Listing Agency:
The Advantage Realty Group
Listed By:
Matthew Reilly · License #000023261-0
(334) 399-2883
Source:
Crexi
Added: Apr 15
Changed: Aug 28
Last Checked: Aug 31 at 7:24PM
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 The Advantage Realty Group
Investment Insights
Based on property information with market context.
This Class A medical office property was built in 2019 and is offered as a turnkey facility designed for patient flow and in-house services. The interior layout includes eight fully equipped exam rooms, a dedicated Fluoro Suite, and on-site lab space. In addition, there are three private offices and an expansive waiting area intended to support a comfortable patient experience.
The property is located along the Watermelon Road corridor in Northport, with the listing describing strong visibility and accessibility for patient traffic. It is currently occupied by a tenant, and the existing lease is set to expire January 2027.
With its modern, purpose-built configuration and comprehensive diagnostic capabilities on site, the space is suited to a range of healthcare specialties seeking a ready-to-operate medical office setting.
The property is located along the Watermelon Road corridor in Northport, with the listing describing strong visibility and accessibility for patient traffic. It is currently occupied by a tenant, and the existing lease is set to expire January 2027.
With its modern, purpose-built configuration and comprehensive diagnostic capabilities on site, the space is suited to a range of healthcare specialties seeking a ready-to-operate medical office setting.
Key Highlights
- Built in 2019 Class A medical office with 4,882 SF designed for modern patient care
- Includes eight fully equipped exam rooms plus a dedicated Fluoro Suite
- On‑site lab space supports in‑house services
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
$65,380
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
3.11%
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%
$1,307,600
$1.3M
Cap Rate 7%
$934,000
$934.0K
Cap Rate 9%
$726,444
$726.4K
Market Conditions
NOI Build-Up for 4,882 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
$117.2K $24.00/SF
− Vacancy
−$8.2K −$1.68/SF
EGI
$109.0K $22.32/SF
− OpEx
−$43.6K −$8.93/SF
NOI
$65.4K $13.39/SF
Area
Tuscaloosa County, AL
Vacancy
7.00%
Lease Rate
$24.00 /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%
$1,307,600
Cap Rate 7%
$934,000
Cap Rate 9%
$726,444
Alternative Uses
Best Use
Healthcare Medical
$934.0K
$817.3K – $1.09M
NOI $65,380 @ 7.0% cap · market cap 3.11%
Second Best
Office B
$807.8K
$706.9K – $942.5K
NOI $56,548 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,123 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35473, AL
17,888
Population
8,601
Households
2.1
Avg Household Size
38
Median Age
37%
College-Educated
90%
High-School Grad
25.8 sq mi
ZIP Area
693
Density / Sq Mi
$67,224
Median Household Income
$44,581
Median Earnings
$922
Median Rent
$249,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2019, the property includes eight exam rooms, a dedicated Fluoro Suite, and on-site lab space.
Where is this medical office space located?
The property is located at 4280 Watermelon Road Northport, 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: Built in 2019 Class A medical office with 4,882 SF designed for modern patient care; Includes eight fully equipped exam rooms plus a dedicated Fluoro Suite; On‑site lab space supports in‑house services
