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$4,980,000
Est. payment /mo
8,696 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 8,696 sqft
Price per Sqft $572
MLS Listing ID 168855
HOA Y/N No
Year Built 1985
Annual Tax Amount $27,207
Lot Size 1.210 Acres
Acres 1.21
Property Sub-Type Office
Property Description
Absolute NNN lease. Tenant is a vascular surgery center recently acquired by a local hospital group. Lease start date 10/6/21 for 10 year term with 2% annual rent increases. Current annual rent is $244,077.79. At expiration of initial 10-year term there are 5 renewal options for 3 years each. Tenant responsible for all operating expenses plus structural repairs.
Desirable investment because experts estimate that medical office buildings generate a higher percentage of bonus depreciation than other investment types, typically in the 40% to 60% range. Buyers must confirm with their own tax professionals, but if the estimates are accurate, then based on an 80% improvement to total property ratio, first year bonus depreciation would be in the range of $1,593,000 to $2,390,400
Site visits, nor contact with tenant, permitted except as arranged by listing agent.
Desirable investment because experts estimate that medical office buildings generate a higher percentage of bonus depreciation than other investment types, typically in the 40% to 60% range. Buyers must confirm with their own tax professionals, but if the estimates are accurate, then based on an 80% improvement to total property ratio, first year bonus depreciation would be in the range of $1,593,000 to $2,390,400
Site visits, nor contact with tenant, permitted except as arranged by listing agent.
Location
State AL
County Jefferson
Area (13) Jefferson County
Direction Near Trussville, inside I-459 loop. Old nav systems might have address as 608 Gadsden Hwy, Birmingham. From BHM take 20/59 No and then stay on I-59 to Exit 134. At exit, take US 11N to property, slightly over 1 mile.
Interior
Fireplace No
Others
Tax ID 01-24-00-06-1-005-003.000
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Listed by Butler Evans Real Estate, Inc.
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