1823 Somerville RdDecatur, AL 35601

Property Details for 1823 Somerville Rd

Year built

1954

Lot size

1.08 AC

Property size (Sq ft)

1,996 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

03-09-29-4-003-024.000

APU

309294003024000

Description

This exceptional investment opportunity presents a fully occupied, two-building office complex in Decatur, Alabama. The property, located at 1823 Somerville Rd SE, 35601, encompasses 2,865 square feet on a one-acre lot with B1 zoning. The main building, a single-story Class B structure, features a reception area, multiple waiting rooms, individual offices, and dedicated patient areas. Three restrooms and six additional sinks are strategically located throughout. Abundant storage is provided via shelving and counter space. A separate heated and cooled storage building of approximately 540 square feet offers additional space with a drop ceiling, shelving, and a sink. The property boasts ample parking with approximately 15 spaces and approximately 142 feet of frontage on Somerville Road. Currently operating at 100% occupancy with a mix of executive, medical, and traditional office tenants, this NNN-leased property offers a strong return on investment. The asking price is $250,000, translating to $87.26 per square foot. This turnkey investment is ideal for a passive income portfolio or an owner-user seeking a high-traffic location. The property is situated in a high-traffic area, making it an attractive option for various medical and professional practices. The two buildings are currently under single tenancy.

• CAP approach

  CAP return

  Valuation

  6%

  $422,163

  6.5%

  $389,689

  7%

  $361,854

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,128

  Geo Method

  $389,340

• Alternative Use

  Use

  Valuation

  Residential

  $483,214

  Hospitality

  $442,621

  Educational

  $368,256

  Medical

  $380,921

  Retail

  $572,842

Location Insight

City

Decatur

County

Morgan

State

Alabama

Latitude

34.5769

Longitude

-86.9726

CBSA code

19460

CBSA name

DECATUR, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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