Property profile

1022 1St St North 300 Alabaster, AL 35007

FOR LEASE
Office buildings
Property ID
US03-1298632
20,284 SF 4.52 ac lot Built 1998
Entity Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional five-story, 97,038 square foot Class A medical office building, known as Shelby II Medical Plaza, presents a unique investment opportunity. Tenants can lease spaces ranging from a minimum of 1,887 square feet to a maximum contiguous space of 6,000 square feet, making it ideal for a variety of medical practices. The building boasts ample parking, providing convenient access for patients and staff. Its strategic location offers direct access to Route 119, ensuring high visibility and easy accessibility. Shelby II Medical Plaza benefits from its proximity to Shelby Baptist Medical Center, a 252-bed facility with one of the state's busiest emergency departments, handling over 51,000 visits annually. This strong medical presence creates a high-traffic environment, ideal for medical professionals. The building is anchored by Heart South Cardiovascular Group and also houses other reputable medical practices, including Pulmonary Medicine Associates and Greenville Pediatrics/Children's Hospital of Alabama. The property is professionally managed and leased, ensuring efficient operations and a stable tenant base. This prime location in Shelby County offers a compelling opportunity for medical professionals seeking high-quality, well-situated office space. The building's multiple tenancy structure allows for flexibility in lease terms and space requirements.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1998
Total area 20,284 SF
Lot 4.52 ac (196,848 SF)
APN 137362001048000
UPID US03-1298632

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pediatrician Medical Clinic
  • Physician
  • Physician
  • Physician Medical Clinic
  • Physician Medical Clinic

Location

1022 1St St North, Unit 300 Alabaster, AL 35007
Alabaster metro Census 30319 BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.10M
Blend (final) Blend
$495k

Owner & transaction history

since 2016
2 recorded transactions
2016
Price N/A
2015
$20.5M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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