Property Details for 1648 Pelham Rd

Year built

2023

Lot size

0.57 lot acres

Property size

3,726 SF

Property type

Medical Office Space

Description

This exceptional investment opportunity presents a brand-new, Class A, 3,726 square foot medical office building in Jacksonville, Alabama. The property boasts a 15.4-year net lease with Fast Pace Health, a prominent healthcare provider with over 265 locations across six states. The lease features a 10% rent increase every five years and three five-year renewal options, ensuring long-term income stability. The building, constructed in 2023, sits on a 0.57-acre lot and enjoys a prime location across from a Walmart Supercenter, Jacksonville State University, a regional medical center, and other key amenities. With a 6.35% cap rate and a strong NOI of $180,000, this single-tenant property offers a compelling return on investment. The high traffic count of over 25,000 vehicles daily and a population of 64,000 within a 10-mile radius further underscores the property's exceptional location and potential for continued growth. The property's strategic location near Jacksonville State University (approximately 2 miles away with 9,000 students and 500 staff) and its proximity to major transportation routes contribute to its high visibility and accessibility. The Walmart Supercenter across the street, with over 2,200,000 visitors annually, provides significant foot traffic and reinforces the area's commercial vitality. This is a rare opportunity to acquire a high-performing, net-leased medical office building with a secure, long-term tenant and significant upside potential. The asking price is $2,835,000, representing a price per square foot of $760.87.

Location Insight

City

Jacksonville

County

Calhoun

State

Alabama

Longitude

-85.760489

Latitude

33.786952