Current Use by Public Records
- Dr. David C. Montiel, MD / Physician / Medical Clinic
- Troy Regional MRI and Women's Diagnostic Center / Medical Clinic
Property Details for 1001 Franklin Dr
- Lot size
- 0.61 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional investment opportunity presents a 3,068 square foot medical office building in Troy, Alabama, currently housing an MRI clinic. The property boasts a strong 7.25% cap rate and a substantial net operating income (NOI) of $81,600. Located on a 0.61-acre lot at 1001 S Franklin Dr, this single-tenant building benefits from a triple-net (NNN) lease with a highly creditworthy tenant (BBB+ S&P Credit Rating), Troy Regional Health System, extending until July 31, 2029 (4.7 years remaining). The clinic is the only MRI facility in Troy and enjoys a prime location directly across from the main hospital campus. This strategic positioning, coupled with the tenant's recent lease extension and significant investment in the property, including fully depreciable MRI equipment, ensures a stable and secure investment. The property is situated in a thriving university town, home to Troy University with over 18,000 students, promising continued growth and demand for healthcare services. The asking price is $1,125,517, translating to $366.86 per square foot. This is a rare opportunity to acquire a high-performing medical office building with a long-term lease and exceptional tenant creditworthiness in a dynamic market.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Pike
- State
- Alabama
- Longitude
- -85.9478
- Latitude
- 31.7823
