1820 Southpark DrBirmingham, AL 35244

Property Details for 1820 Southpark Dr

Year built

1997

Construction

WOOD

Lot size

1.24 AC

Property size (Sq ft)

10,607 SF

Property type

Sports & entertainment properties

Property subtype

Amusement parks

APN

109300001005010

APU

109300001005010

Description

Exceptional investment opportunity in Birmingham, Alabama, featuring a 10,607 square foot, Class A, single-tenant property located at 1820 Southpark Drive, 35244. This mixed-use building, constructed in 1997 and renovated in 2018, sits on a 1.24-acre lot and boasts a 9,600 square foot net rentable area. Currently operating as a daycare, traditional office, and medical office space, the property is 100% occupied with a corporate guaranteed, absolute NNN lease in place until October 30, 2030, offering a remaining lease term of 6.4 years. The lease features a 1.75% annual rent increase until November 1, 2024, followed by adjustments based on the CPI. Three five-year renewal options further enhance the long-term value. The property enjoys an excellent location on Highway 31, within a dense retail corridor, just one mile from I-65 and 2.5 miles from I-459, providing easy access to metropolitan Birmingham. With a daily traffic count of 34,638 vehicles, the property benefits from high visibility and accessibility. The asking price is $1,750,000, representing a compelling $182 per square foot and a 6.50% cap rate, based on a current Net Operating Income (NOI) of $113,712. Ample on-site parking is available for employees and customers.

• Alternative Use

  Use

  Valuation

  Residential

  $2,567,861

  Hospitality

  $2,352,147

  Educational

  $1,956,958

  Medical

  $2,024,261

  Retail

  $3,044,158

Location Insight

City

Hoover

County

Shelby

State

Alabama

Latitude

33.3501

Longitude

-86.7943

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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