737 Memorial Dr, Bessemer, AL 35022
- Medical Office Space
- 7,258 SF
- 1.19 lot acres
Current Use by Public Records
- Alabama Oncology: Rossman Joanne MD / Physician
- Birmingham Hematology Oncology / Medical Clinic
- Imaging Center West / Medical Clinic
Property Details for 737 Memorial Dr
- Year built
- 1970
- Lot size
- 1.19 lot acres
- Zone code
- O1
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 38-00-19-1-005-007.000
- APU
- 3800191005007000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 15, 2004 | $795,000 | Icw Partners LLC | Caceres,jorge A | Warranty Deed | $1.4M · Bank Of Al |
Description
This exceptional 6,500 square foot medical office building in Bessemer, Alabama, presents a compelling investment opportunity. Located on a 1.19-acre lot, the property boasts a prime location directly across from UAB Medical West, ensuring high visibility and accessibility. Built in 2020, the Class B building features a high-quality medical build-out, abundant parking, and easy access from AL-11 and I-20. Currently fully leased to high-quality tenants, including UAB Medical West Imaging and Birmingham Hematology, the property generates a gross annual income of $185,000 and a net operating income of $135,000, resulting in a current cap rate of 15.9%. Leases expire October 21, 2024. The single-story building is ideal for both owner-users and investors seeking a strong return in a thriving medical campus environment. The property's strategic location benefits from the proximity of UAB and the relocation of Birmingham Hematology, further enhancing its long-term value and potential. This is a rare opportunity to acquire a well-maintained, high-performing medical office building in a rapidly growing area. The property is zoned for medical use and offers significant potential for future growth and appreciation. The asking price is $595,000.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $877,000
Market price range: $474k - $1.92M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,155,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $1,445,000 Change: +25% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,025,000 Change: -11% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,025,000 Change: -11% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Bessemer
- County
- Jefferson
- State
- Alabama
- Longitude
- -86.9888
- Latitude
- 33.3738
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
