2711 Gary Fitts StTuscaloosa, AL 35401

Property Details for 2711 Gary Fitts St

Year built

1887

Property size (Sq ft)

4,630 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a fully renovated, 4,630 square foot, two-story office building in Tuscaloosa, Alabama. Located at 2711 Gary Fitts St, 35401, this 1887 building underwent a complete 2023 renovation, including new windows, HVAC units, water heater, gas lines, and partial flooring restoration. The property boasts a 5-year NNN lease with South Oak Title, a regional credit tenant, commencing August 23, 2024, and expiring August 31, 2029. The lease includes annual rent increases (10% in year two, 3% thereafter) and a single 5-year renewal option. The current NOI is $60,000, with a pro-forma NOI of $66,000, yielding a 5.00% cap rate and a pro-forma cap rate of 5.50%. The property features a metal roof under warranty, ample off-street parking accessible via a private alley, abundant street parking, and a concrete wheelchair ramp. Its convenient location offers proximity to the courthouse, dining, entertainment, and the financial district. The 7,920 square foot lot is zoned BGO. This is a meticulously maintained, historically significant property with no historic restrictions, promising long-term value and strong returns. A lease synopsis, including detailed rent increases, is available upon request with a signed NDA.

Location Insight

City

Tuscaloosa

County

Tuscaloosa

State

Alabama

Latitude

33.2076

Longitude

-87.5725

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