2612 Avenue Birmingham, AL 35218
- Lifestyle centers
Current Use by Public Records
- Viking Authorized Pro / Small Appliance Repair Service
Property Details for 2612 Avenue
- Year built
- 1960
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Birmingham, Alabama medical office and retail property presents a compelling investment opportunity. The 23,000 square foot building, constructed in 1960, boasts 100% occupancy with two tenants: a Fortune 500 DaVita Dialysis center (since 2011) and Beauty Masters. The property benefits from a strong 12.91% cap rate and a double net lease with annual rent increases built into the base term and options. DaVita's long-term commitment is evident in their recent building improvements, including repainting the awning and roof repairs completed in 2016 with a transferable warranty. Located in a high-demand area with a dense population (over 109,000 within a 5-mile radius) and average household income of $63,000, this property offers significant resilience against economic downturns, a characteristic of healthcare real estate. Alabama's Certificate of Need (CON) state regulations further enhance the property's value by limiting market entry for competitors. The asking price is $735,000, representing a rare opportunity to acquire a stable, high-yielding investment in a prime Birmingham location. The current rent of $5.20/sf provides significant upside potential. This is a bite-sized deal with extended leases, offering a secure and profitable investment.
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
- Birmingham
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.9022
- Latitude
- 33.507
