1482 Montgomery Hwy, Birmingham, AL 35216
- Drive through restaurants
- 3,187 SF
- 0.67 lot acres
Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 1482 Montgomery Hwy
- Year built
- 1998
- Lot size
- 0.67 lot acres
- Zone code
- B3
- Property type
- Drive through restaurants
- APN
- 39-00-01-2-000-045.000
- APU
- 3900012000045000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 12, 2018 | $2,250,000 | Blanconl Family Trust | Scott Family Trust | Warranty Deed | — |
| Dec 12, 2018 | $1,000 | Solomon,g I Separate Prop Trust | Solomon,gerald I | Warranty Deed · related | — |
| Mar 23, 2018 | $1,695,000 | Ross Family Trust | 1482 Montgomery Hwy LLC | Warranty Deed | — |
| Dec 29, 2014 | $2,043,000 | 1482 Montgomery Hwy LLC | Korotaeva,elena | Warranty Deed | — |
| Dec 23, 2014 | $2,043,000 | Elena Korotaeva | Ede I LLC | Warranty Deed | — |
| — | — | J & G Investments LLP | — | Deed Of Trust · related | $570k · Wells Fargo Bk Nw NA |
| — | — | Scott Family Trust | — | Deed Of Trust · related | $1M · Calprivate Bank |
Description
This exceptional investment opportunity presents a 3,187 square foot, single-tenant, absolute NNN leased property located at 1482 Montgomery Hwy, Birmingham, AL 35216. The property, built in 1998 and renovated in 2016, sits on a 0.68-acre lot and boasts 36 parking spaces. Currently occupied by a credit-rated corporate tenant with a 10-year lease commencing March 31, 2024, and expiring March 31, 2034, this investment offers exceptional stability and passive income. The lease includes 7.5% rent bumps every five years, ensuring consistent growth. The property generates a strong net operating income (NOI) of $115,000, resulting in a 5.75% cap rate. The asking price is $2,000,000. This prime location benefits from high visibility and accessibility from Interstate 65, experiencing approximately 125,000 vehicles per day. The surrounding area is densely populated, with over 153,000 residents within a 5-mile radius and an average household income exceeding $111,537 within a 15-minute drive. Nearby, you'll find a variety of established retailers, including Publix, Walgreens, Burlington, Starbucks, and numerous fast-food chains. The property's proximity to the University of Alabama at Birmingham (15 minutes away) further enhances its appeal. The lease offers four, 5-year options, providing long-term security and potential for future growth. This is a truly exceptional opportunity for a passive income investment with minimal landlord responsibilities.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Vestavia Hills
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.8045
- Latitude
- 33.4156
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
