Current Use by Public Records
- A1Roofman.com / Roofing Company / General Contractor
- Beacon Building Products / Building Supply / Industrial Manufacturer
Property Details for 1283 Mcdonough St
- Year built
- 1971
- Lot size
- 3.65 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This Montgomery, Alabama industrial property, located at 1283 N McDonough St, 36104, offers a compelling investment opportunity. The 40,148 square foot building, constructed in 1971, sits on a 3.65-acre lot and is currently leased to Beacon Roofing Supply under a Net Lease agreement. The lease commenced January 17, 2006, and expires January 31, 2028, with two five-year renewal options, each including a 3% rent increase. The current asking price is $1,545,000, representing a price per square foot of $38.48 and a 7.65% cap rate, based on a Net Operating Income (NOI) of $118,200. The property is zoned M-3 (General Industry) and includes outside storage. The tenant, a publicly traded Fortune 500 company, boasts a strong credit rating (S&P: BB-), providing reliable income. The property's strategic location near I-65 and I-85, Maxwell Air Force Base, and downtown Montgomery enhances its value. The current rent of $2.94 per square foot is significantly below market rates, presenting substantial upside potential for future growth. The property's 18-year operating history and location within a growing MSA with a strong local demographic (88,000 residents within 5 miles) further solidify its investment appeal. This single-story building represents a strong, stable investment in a desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.3057
- Latitude
- 32.3937
