851 1st N St Alabaster, AL 35007-8944

Property Details for 851 1st N St

Year built

1997

Lot size

0.24 lot acres

Property size

2,790 SF

Property type

Retail properties

APN

137351001028001

APU

137351001028001

Description

This exceptional investment opportunity presents a 3,566 square foot, Class B auto shop located at 851 1st St N, Alabaster, AL 35007. The property boasts a prime location directly across from Shelby Baptist Medical Center, a 252-bed hospital, and enjoys excellent visibility and access from Highway 119 (52,620 VPD). Currently 100% occupied by a credit-rated tenant under a corporate guarantee, the absolute NNN lease features a remaining term of approximately 15.1 years (expiring 01/01/2040), commencing 12/31/2019. The lease includes four, 5-year options with a 10% rent increase every five years, providing a strong hedge against inflation. The property generates a substantial NOI of $127,696, representing a 5.85% cap rate on the asking price of $2,183,000. Built in 1997, the single-unit building sits on a 0.24-acre lot and includes 12 parking spaces. The property's strategic location offers proximity to major roadways, including I-65 (approximately 85,430 VPD), and is within walking distance of numerous well-known retailers such as Aldi, Big Lots, Staples, and others. Furthermore, it's situated near significant shopping centers including Alabaster Promenade, Colonial Promenade, and Propst Promenade. This presents a rare opportunity for a long-term, passive investment with minimal landlord responsibilities.

Location Insight

City

Alabaster

County

Shelby

State

Alabama

Longitude

-86.8147

Latitude

33.254

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments