2612 AvenueBirmingham, AL 35218

Property Details for 2612 Avenue

Year built

1960

Property type

Healthcare properties

Property subtype

Lifestyle centers

Description

This exceptional Birmingham, Alabama medical office and retail property presents a compelling investment opportunity. The 23,000 square foot building, constructed in 1960, boasts 100% occupancy with two tenants: a Fortune 500 DaVita Dialysis center (since 2011) and Beauty Masters. The property benefits from a strong 12.91% cap rate and a double net lease with annual rent increases built into the base term and options. DaVita's long-term commitment is evident in their recent building improvements, including repainting the awning and roof repairs completed in 2016 with a transferable warranty. Located in a high-demand area with a dense population (over 109,000 within a 5-mile radius) and average household income of $63,000, this property offers significant resilience against economic downturns, a characteristic of healthcare real estate. Alabama's Certificate of Need (CON) state regulations further enhance the property's value by limiting market entry for competitors. The asking price is $735,000, representing a rare opportunity to acquire a stable, high-yielding investment in a prime Birmingham location. The current rent of $5.20/sf provides significant upside potential. This is a bite-sized deal with extended leases, offering a secure and profitable investment.

Location Insight

City

Birmingham

County

Jefferson

State

Alabama

Latitude

33.507

Longitude

-86.9022

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