5911 Harris Ln Bessemer, AL 35022
- Retail properties
- 4,391 SF
Current Use by Public Records
- American Family Care McCalla / Drug Testing Service / Medical Center
Property Details for 5911 Harris Ln
- Property size
- 4,391 SF
- Property type
- Retail properties
- Property subtype
- Medical centers
Description
This exceptional investment opportunity presents a 4,391 square foot Class A retail property located at 5911 Harris Lane, Bessemer, AL 35022, within the thriving Tannehill Promenade shopping center in the Birmingham MSA. The property is currently leased to American Family Care under a new 15-year absolute NNN lease, commencing August 1, 2023, and expiring July 31, 2038, offering a substantial remaining lease term of 13.7 years. The lease includes annual rent increases tied to the CPI, with a 2% floor and no cap, ensuring consistent income growth. The tenant is backed by a corporate guarantee, mitigating risk. This single-tenant property boasts a strong net operating income (NOI) of $157,003, resulting in an attractive 6.18% cap rate. The asking price is $2,540,500, translating to a price per square foot of $578.57. The property benefits from its strategic location at the intersection of I-459 and Eastern Valley Road, boasting combined daily traffic counts exceeding 86,000 vehicles. Tannehill Promenade features a robust tenant mix including national brands such as Target, Publix, Michael's, Starbucks, Bessemer Premiere Theater, TJ Maxx, and Five Below, ensuring high visibility and foot traffic for the American Family Care facility. This investment offers a compelling combination of strong tenant, long-term lease, and prime location within a successful shopping center. The property is an excellent addition to any diversified real estate portfolio. A 10-year lease option is also available.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bessemer
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.9946
- Latitude
- 33.3354
