1820 Southpark Dr, Hoover, AL 35244-2094

Property Details for 1820 Southpark Dr

Year built

1997

Construction

WOOD

Lot size

1.24 lot acres

Property type

Amusement parks

APN

109300001005010

APU

109300001005010

Description

Exceptional investment opportunity in Birmingham, Alabama, featuring a 10,607 square foot, Class A, single-tenant property located at 1820 Southpark Drive, 35244. This mixed-use building, constructed in 1997 and renovated in 2018, sits on a 1.24-acre lot and boasts a 9,600 square foot net rentable area. Currently operating as a daycare, traditional office, and medical office space, the property is 100% occupied with a corporate guaranteed, absolute NNN lease in place until October 30, 2030, offering a remaining lease term of 6.4 years. The lease features a 1.75% annual rent increase until November 1, 2024, followed by adjustments based on the CPI. Three five-year renewal options further enhance the long-term value. The property enjoys an excellent location on Highway 31, within a dense retail corridor, just one mile from I-65 and 2.5 miles from I-459, providing easy access to metropolitan Birmingham. With a daily traffic count of 34,638 vehicles, the property benefits from high visibility and accessibility. The asking price is $1,750,000, representing a compelling $182 per square foot and a 6.50% cap rate, based on a current Net Operating Income (NOI) of $113,712. Ample on-site parking is available for employees and customers.

Location Insight

City

Hoover

County

Shelby

State

Alabama

Longitude

-86.7943

Latitude

33.3501

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments