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224 1st N St Alabaster, AL 35007-8742

OFF-MARKET Medical Office Space Google Maps
19,854 SF 1.4 ac lot Built 2001
Entity Owned 4-yr Hold ~ Est. High Equity
Estimated value (blended)
$3.28M
Range $2.95M – $3.60M (±10%)
Property ID US03-1299743

Property summary

AI-generated overview

This exceptional two-story, Class A medical office building, totaling 19,854 square feet, is situated on 1.4 acres in Alabaster, Alabama's thriving Medical Mile. Built in 2001, the property boasts 110 parking spaces and offers multiple suites for lease, with one immediately available space of 1,929 square feet. The minimum divisible space is also 1,929 square feet, making it ideal for a variety of medical or traditional office uses. The building features a total of five suites. This prime location within Shelby County benefits from its proximity to major transportation routes, ensuring convenient access for patients and employees. The Medical Mile is experiencing significant commercial growth, attracting a diverse range of businesses and healthcare facilities, creating a vibrant and dynamic environment. This presents a unique opportunity to establish a presence in a rapidly expanding commercial corridor known for its concentration of healthcare providers and related businesses. The property's strategic location and modern amenities make it an attractive option for businesses seeking a high-quality space in a thriving medical hub. The building's Class A designation reflects its superior construction, design, and amenities.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2001
Construction WOOD
Total area 19,854 SF
Lot 1.4 ac (60,984 SF)
APN 137354001020000
UPID US03-1299743

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Real Estate Agency
  • Real Estate Agency
  • Real Estate Agency
  • Physician
  • Real Estate Agency

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.14M
Comparable Approach Comparable
$3.08M
Blend (final) Blend
$3.28M

Owner & transaction history

since 2021
Last sale
$2.9M
7 recorded transactions
2021
$2.9M
2014
$1.6M
2012
Price N/A
2008
Price N/A
2006
Price N/A
2006
Price N/A
2006
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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