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    2711 Gary Fitts St Tuscaloosa, AL 35401

    Sponsored
    For Sale
    $1,200,000

    Historic Office, NNN Lease, High ROI

    Property size:
    4,630 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully renovated, 4,630 square foot, two-story office building in Tuscaloosa, Alabama. Located at 2711 Gary Fitts St, 35401, this 1887 building underwent a complete 2023 renovation, including new windows, HVAC units, water heater, gas lines, and partial flooring restoration. The property boasts a 5-year NNN lease with South Oak Title, a regional credit tenant, commencing August 23, 2024, and expiring August 31, 2029. The lease includes annual rent increases (10% in year two, 3% thereafter) and a single 5-year renewal option. The current NOI is $60,000, with a pro-forma NOI of $66,000, yielding a 5.00% cap rate and a pro-forma cap rate of 5.50%. The property features a metal roof under warranty, ample off-street parking accessible via a private alley, abundant street parking, and a concrete wheelchair ramp. Its convenient location offers proximity to the courthouse, dining, entertainment, and the financial district. The 7,920 square foot lot is zoned BGO. This is a meticulously maintained, historically significant property with no historic restrictions, promising long-term value and strong returns. A lease synopsis, including detailed rent increases, is available upon request with a signed NDA.

    Property Features for 2711 Gary Fitts St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    4,630 SF

    Building Details

    Year Built/Renovated
    1887/2023
    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • $1,200,000 asking price for a net‑leased office building.
    • 4,630 square feet, single‑tenant occupancy.
    • 5.00% current cap rate, 5.50% pro‑forma cap rate.
    • NNN lease with South Oak Title, a regional credit tenant, through August 31, 2029.
    • Completely renovated in 2023, including new HVAC, roof, and other systems.
    • Located in Tuscaloosa, AL, near the courthouse and downtown amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Tuscaloosa
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5725184339
    Latitude
    33.207550389275

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    FAQs

    What type of property is this?
    Office Property / Space - Historic Office, NNN Lease, High ROI
    Where is this office property / space located?
    The property is located at 2711 Gary Fitts St Tuscaloosa, AL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price for a net-leased office building.; 4,630 square feet, single-tenant occupancy.; 5.00% current cap rate, 5.50% pro-forma cap rate.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2711 Gary Fitts St Tuscaloosa, AL 35401
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