1151 Bankhead Hwy Birmingham, AL 35204

Property Details for 1151 Bankhead Hwy

Year built

1966

Lot size

0.56 lot acres

Property size

4,036 SF

Zone code

B2

Property type

Banks

APN

22-00-28-1-008-007.002

APU

2200281008007002

Description

This exceptional redevelopment opportunity presents a 4,036 square foot single-tenant retail property currently occupied by PNC Bank under a triple-net (NNN) lease with a corporate guarantee. Located at 1151 Bankhead Hwy W, Birmingham, AL 35204, this fee-simple property boasts a prime location with excellent visibility and access on Bankhead Highway West, experiencing a 50% traffic increase (to 41,384 VPD) over the past three years. Its proximity to Interstate 20 (136,038 VPD) further enhances its strategic value. The property, built in 1966 and renovated in 2018, sits on a 0.56-acre lot (APN: 22-00-28-1-008-007.000). The current lease, commencing October 31, 2006, and expiring November 29, 2026, offers a remaining term of approximately 2.8 years, providing a strong return on investment. The property's Net Operating Income (NOI) is $49,200, yielding an 8.50% cap rate at an asking price of $549,000 ($143.46/sq ft). This location benefits from its placement within a Qualified Opportunity Zone, offering potential tax incentives. The surrounding area boasts a significant population (over 146,000 within a five-mile radius) and a substantial workforce (224,365 employees), with easy access to downtown Birmingham (3.5 miles) and its 1.2 million residents. This presents a compelling investment opportunity for owner-users seeking to capitalize on a strong tenant and a prime location with significant redevelopment potential.