For Sale
$950,000

109 Opp AveAndalusia, AL 36420

Multi-tenant medical office, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5,150-square-foot, single-story Class B medical office building situated on a 0.254-acre lot at 109 Opp Ave, Andalusia, Alabama, 36420. The property boasts 100% occupancy with two established tenants under long-term leases, providing a stable income stream. Renalus Kidney Care and LHC Home Health occupy the space, with a weighted average lease term exceeding seven years. Renalus Kidney Care operates under a triple-net (NNN) lease, while LHC Home Health is under a recently renewed gross lease. Both tenants have made significant investments in property upgrades, totaling $565,000, demonstrating their commitment to the location. The building, renovated in 2019, generates a substantial net operating income (NOI) of $81,477, resulting in an attractive 8.58% capitalization rate. This stabilized investment offers a secure and lucrative opportunity in the thriving Andalusia healthcare market. The asking price is $950,000.

Highlights

  • 5,150 SF Class B medical office building on a 0.254-acre lot in Andalusia, AL.
  • 100% occupancy with Renalus Kidney Care (NNN lease) and LHC Home Health (gross lease).
  • Weighted Average Lease Term (WALT) exceeds 7 years.
  • Tenants invested a combined $565,000 in property upgrades.

Property Details for 109 Opp Ave

Property type
Office properties, Medical offices
Square Feet
5,150 SF
Class
B
Year Renovated
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
11,064 SF

Location Insight

City
Andalusia
County
Covington
State
Alabama
Latitude
31.307473409755
Longitude
-86.484050741518
109 Opp Ave, Andalusia, Alabama

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109 Opp Ave
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