1482 Montgomery Hwy Birmingham, AL 35216

Property Details for 1482 Montgomery Hwy

Year built

1998

Lot size

0.67 lot acres

Property size

3,187 SF

Zone code

B3

Property type

Drive through restaurants

APN

39-00-01-2-000-045.000

APU

3900012000045000

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.

Location Insight

City

Vestavia Hills

County

Jefferson

State

Alabama

Longitude

-86.8045

Latitude

33.4156

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments