Medical Office Building For
For Sale
Contact for pricing
122 7th Ave NE, Alabaster, AL 35007
Medical office building with immediate occupancy and long-term lease income.
Property Size10,060 SF
Lot Size0.69 Acres
Price / SF$168.99
Days on Market1251
Property Features for 122 7th Ave NE
General Information
Standard status
Active
Size
10,060 SF
Class
B
Total Parking Spaces
40
Lot size
0.69 Acres
Property subtype
Office
Zoning
B-3
Occupancy
25%
Lease Type
Modified Gross
Investment Type
Owner/User
Building Details
Year Renovated
2022
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Mark Dinan Commercial & Investment Real Estate
Listed By:
Mark Dinan · License #AL 000044694
(205) 980-3434
Source:
Crexi
Added: May 15, 2023
Changed: Oct 13
Last Checked: Oct 16 at 8:27AM
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 Mark Dinan Commercial & Investment Real Estate
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Investment Insights
Based on property information with market context.
This commercial property is ideal for a medical owner, user, or investor. The building offers 7,410 square feet available for immediate occupancy, with an additional 2,650 square feet currently leased until December 31, 2032, at $5,000 per month. The pro forma gross income is $223,020 per year. The property tax is $14,377 per year. Situated on a 30,000 square foot lot, the property features a new roof installed in 2022 and updated HVAC. There are 40 parking spaces available. The location is prominent, with a monument sign and proximity to the medical center entrance across the street. A traffic light facilitates easy access from Highway 31. The area offers an abundance of shopping and restaurants. The level parking area provides convenient front door parking. Over 345,000 residents are located within a 5-mile radius. This property represents a value-add, high-growth, low-risk opportunity.
Key Highlights
- Ideal for Medical Owner/User/Investor due to proximity to Medical Center Entrance across the street.
- Significant Income: $5,000 per month from existing lease until December 31, 2032.
- High Visibility: Prominent location with Monument Sign and easy access from Highway 31 via traffic light.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,136
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,720
$2.7M
Cap Rate 7%
$1,944,800
$1.9M
Cap Rate 9%
$1,512,622
$1.5M
Market Conditions
NOI Build-Up for 10,060 SF
Gross rent
$253.5K $25.20/SF
− Vacancy
−$26.6K −$2.65/SF
EGI
$226.9K $22.55/SF
− OpEx
−$90.8K −$9.02/SF
NOI
$136.1K $13.53/SF
Area
Shelby County, AL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,720
Cap Rate 7%
$1,944,800
Cap Rate 9%
$1,512,622
Alternative Uses
Best Use
Healthcare Medical
$1.94M
$1.70M – $2.27M
NOI $136,136 @ 7.0% cap · market cap 8.01%
Second Best
Office B
$1.51M
$1.32M – $1.77M
NOI $105,932 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,290 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35007, AL
28,274
Population
10,634
Households
2.7
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
725
Density / Sq Mi
$86,994
Median Household Income
$47,572
Median Earnings
$1,348
Median Rent
$231,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Alabaster Animal Clinic — 1378 1st St N, Alabaster, AL 35007
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with immediate occupancy and long-term lease income.
Where is this medical office space located?
The property is located at 122 7th Ave NE Alabaster, AL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Ideal for Medical Owner/User/Investor due to proximity to Medical Center Entrance across the street.; Significant Income: $5,000 per month from existing lease until December 31, 2032.; High Visibility: Prominent location with Monument Sign and easy access from Highway 31 via traffic light.**
