For Sale
$2,900,000

201 Doug Baker BlvdBirmingham, AL 35242

Stable, single-tenant medical office

Overview

Added:
Dec 11, 2024
Days on market:
116
This Class A, 7,943 sq ft medical office building in Birmingham, AL, offers a compelling investment opportunity. Located at 201 Doug Baker Blvd, in the Lee Branch Shopping Center, this single-tenant property boasts a 10-year NNN lease (expiring 11/01/2028) with a corporate guarantee from a subsidiary of Community Health Systems, one of the nation's largest publicly traded hospital companies. The tenant, Grandview Medical Group, an affiliate of Grandview Medical Center, has occupied the building since November 2018, demonstrating strong tenancy. The lease includes annual 2% rent bumps, ensuring consistent income growth. The property features 64 parking spaces per 1,000 sq ft and sits on a 1.24-acre lot. Recent upgrades include a full roof replacement and parking lot improvements, along with over $76,000 in tenant-funded interior and exterior renovations. The asking price is $2,900,000, representing a 5.50% cap rate and a price per square foot of $365.10. The building, constructed in 2005 and renovated in 2013, is zoned C-2. This is a stabilized investment with a strong tenant and significant upside potential. The property's prime location near US Highway 280 and Doug Baker Boulevard provides excellent visibility and accessibility. This offering is ideal for a 1031 exchange.

Highlights

  • Guaranteed lease by Grandview Medical Center, a Community Health Systems subsidiary.
  • High-traffic location at US Hwy 280 & Doug Baker Blvd (52,000+ VPD).
  • Lee Branch retail center, surrounded by affluent neighborhoods near Grandview Medical Center.
  • Long-term tenant (since 2013) with below-market rent.
  • Passive income opportunity; landlord responsible for roof, structure, and parking only.

Property Details for 201 Doug Baker Blvd

Property type
Office properties, Medical offices
Square Feet
7,943 SF
Class
A
Year Built/Renovated
2005/2013
Buildings
1
Stories
1
Lot Size (sq. ft)
54,014 SF

Location Insight

City
Birmingham
County
Shelby
State
Alabama
Latitude
33.4084143
Longitude
-86.6666016
201 Doug Baker Blvd, Birmingham, Alabama

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201 Doug Baker Blvd
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