Heartland Dental Medical
For Sale
Contact for pricing
716 32nd Street South, Birmingham, AL 35233
Purpose-built dental facility with net-lease occupancy near UAB and Birmingham’s established healthcare corridor.
Property Size4,700 SF
Price / SF$297.66
Days on Market9
Property Features for 716 32nd Street South
General Information
Standard status
Active
Size
4,700 SF
Class
A
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$101,457
Additional Details
Highway Access
Yes
Building Details
Year Built
1992
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
David Hoppe · License #NC 288268
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 11 at 11:11AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
This 4,700-square-foot medical office property was constructed in 1992 as a purpose-built dental facility and is leased to a Heartland Dental-supported practice. The building represents a specialized outpatient healthcare asset with an established net-lease structure.
The property is located at 716 32nd Street South in Birmingham, Alabama, just off Red Mountain Expressway (US-280), which carries more than 85,300 vehicles per day. It is approximately three miles south of Downtown Birmingham and immediately near the University of Alabama at Birmingham campus. The surrounding healthcare corridor includes major hospitals, research institutions, medical office buildings, and complementary healthcare providers. Within five miles, the property is supported by a population of more than 173,000 residents, while average household income exceeds $126,000 within three miles and $111,000 within five miles.
The property is located at 716 32nd Street South in Birmingham, Alabama, just off Red Mountain Expressway (US-280), which carries more than 85,300 vehicles per day. It is approximately three miles south of Downtown Birmingham and immediately near the University of Alabama at Birmingham campus. The surrounding healthcare corridor includes major hospitals, research institutions, medical office buildings, and complementary healthcare providers. Within five miles, the property is supported by a population of more than 173,000 residents, while average household income exceeds $126,000 within three miles and $111,000 within five miles.
Key Highlights
- 4700‑square‑foot purpose‑built dental facility
- Constructed in 1992
- Leased to a Heartland Dental‑supported practice
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
$59,558
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
4.26%
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%
$1,191,160
$1.2M
Cap Rate 7%
$850,829
$850.8K
Cap Rate 9%
$661,756
$661.8K
Market Conditions
NOI Build-Up for 4,700 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
$112.8K $24.00/SF
− Vacancy
−$13.5K −$2.88/SF
EGI
$99.3K $21.12/SF
− OpEx
−$39.7K −$8.45/SF
NOI
$59.6K $12.67/SF
Area
Birmingham, AL
Vacancy
12.00%
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%
$1,191,160
Cap Rate 7%
$850,829
Cap Rate 9%
$661,756
Alternative Uses
Best Use
Healthcare Medical
$850.8K
$744.5K – $992.6K
NOI $59,558 @ 7.0% cap · market cap 4.26%
Second Best
Office B
$806.4K
$705.6K – $940.8K
NOI $56,449 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$1.10M
$965.3K – $1.29M
NOI $77,223 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,385
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 35233, AL
2,588
Population
2,710
Households
1
Avg Household Size
27
Median Age
90%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
1,725
Density / Sq Mi
$52,207
Median Household Income
$48,750
Median Earnings
$1,526
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Office in Birmingham, AL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Animal Cardiology of Alabama and Animal Rehabilitation/Fitness — 2114 10th Ave S, Birmingham, AL 35205
- Avondale Animal Hospital — 3624 5th Ave S, Birmingham, AL 35222
- St Vincent's PET Center LLC — 2660 10th Ave S #104, Birmingham, AL 35205
- Sound Animal Rehabilitation and Fitness — 2114 10th Ave S Suite B, Birmingham, AL 35205
- Animal Cardiology of Alabama — 2114 10th Ave S, Birmingham, AL 35205
Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built dental facility with net-lease occupancy near UAB and Birmingham’s established healthcare corridor.
Where is this medical office space located?
The property is located at 716 32nd Street South Birmingham, AL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 4700‑square‑foot purpose‑built dental facility; Constructed in 1992; Leased to a Heartland Dental‑supported practice
