1820 Southpark Dr Birmingham, AL 35244
- Amusement parks
- 10,607 SF
- 1.24 lot acres
Current Use by Public Records
- Amusement parks
Property Details for 1820 Southpark Dr
- Year built
- 1997
- Construction
- WOOD
- Lot size
- 1.24 lot acres
- Property size
- 10,607 SF
- Property type
- Amusement parks
- APN
- 109300001005010
- APU
- 109300001005010
Description
Exceptional investment opportunity in Birmingham, Alabama, featuring a 10,607 square foot, Class A, single-tenant property located at 1820 Southpark Drive, 35244. This mixed-use building, constructed in 1997 and renovated in 2018, sits on a 1.24-acre lot and boasts a 9,600 square foot net rentable area. Currently operating as a daycare, traditional office, and medical office space, the property is 100% occupied with a corporate guaranteed, absolute NNN lease in place until October 30, 2030, offering a remaining lease term of 6.4 years. The lease features a 1.75% annual rent increase until November 1, 2024, followed by adjustments based on the CPI. Three five-year renewal options further enhance the long-term value. The property enjoys an excellent location on Highway 31, within a dense retail corridor, just one mile from I-65 and 2.5 miles from I-459, providing easy access to metropolitan Birmingham. With a daily traffic count of 34,638 vehicles, the property benefits from high visibility and accessibility. The asking price is $1,750,000, representing a compelling $182 per square foot and a 6.50% cap rate, based on a current Net Operating Income (NOI) of $113,712. Ample on-site parking is available for employees and customers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hoover
- County
- Shelby
- State
- Alabama
- Longitude
- -86.7943
- Latitude
- 33.3501
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
