Single-Tenant Medical Office
754 Main St Gardendale, AL 35071
754 Main St, Gardendale, AL, 35071
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For Sale
Contact for pricing
Purpose-built medical office built in 2005, currently occupied under a triple-net lease with 2% annual escalations.
Property Size2,900 SF
Price / SF$315.87
Days on Market17
Property Features for 754 Main St
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Property subtype
- Office
Building Details
- Year Built
- 2005
Listing agency
Marcus & Millichap - Orlando
(407) 557-3841
Listed by
Christopher Biuso · License #Fl SL3424071
Source
Crexi
Added: Jul 6 Updated: Jul 22 at 8:19AM Checked: Jul 22 at 8:19AM
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 Marcus & Millichap - Orlando
Investment Insights
Based on property information with market context.
This single-tenant medical office building at 754 Main St was constructed in 2005 and has been continuously operated since 2006. The property is occupied by Southern Focus Vision Center and managed by TeamVision, LLC. The lease is structured as a triple-net arrangement.
The building is located adjacent to Gardendale High School, with immediate proximity to surrounding residential neighborhoods. Lease terms include built-in 2% annual rent escalations throughout the primary term, and the tenant has two five-year renewal options.
The property is presented as an opportunity backed by EssilorLuxottica, part of the EssilorLuxottica family, with the remarks noting approximately $32B in annual revenue, 200,000+ employees, and 17,600+ retail locations globally. Demographic information provided includes a 3-mile average household income of $97,188.
The building is located adjacent to Gardendale High School, with immediate proximity to surrounding residential neighborhoods. Lease terms include built-in 2% annual rent escalations throughout the primary term, and the tenant has two five-year renewal options.
The property is presented as an opportunity backed by EssilorLuxottica, part of the EssilorLuxottica family, with the remarks noting approximately $32B in annual revenue, 200,000+ employees, and 17,600+ retail locations globally. Demographic information provided includes a 3-mile average household income of $97,188.
Key Highlights
- Purpose‑built single‑tenant medical office building constructed in 2005
- Currently occupied under a triple‑net lease; continuous operation since 2006
- Tenant is Southern Focus Vision Center, with property managed by TeamVision, LLC (EssilorLuxottica family)
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.9k | $26.52 |
| − Vacancy | −$8.8k | −$3.02 |
| EGI | $68.1k | $23.50 |
| − OpEx | −$17.0k | −$5.87 |
| NOI | $51.1k | $17.62 |
2,900 SF · lease $26.52/SF/yr · vacancy 11.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$730.1K
$638.8K – $851.8K
NOI $51,105 @ 7.0% cap · market cap 5.58%
Second Best
Healthcare Medical
$703.0K
$615.1K – $820.2K
NOI $49,209 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$997.7K
$873.0K – $1.16M
NOI $69,836 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dorrine H. Goldschmidt, ...
Physician
Southern Focus Vision ...
Eye Care Center
Williams Jennifer E ...
Physician
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FAQs
What type of property is this?
Medical Office Space - Purpose-built medical office built in 2005, currently occupied under a triple-net lease with 2% annual escalations.
Where is this medical office space located?
The property is located at 754 Main St Gardendale, AL.
What is the asking price?
The asking price for this property is $916,025.
What are key features of this property?
This property features: Purpose‑built single‑tenant medical office building constructed in 2005; Currently occupied under a triple‑net lease; continuous operation since 2006; Tenant is Southern Focus Vision Center, with property managed by TeamVision, LLC (EssilorLuxottica family)
