171 Town Center DrAnniston, AL 36205

Property Details for 171 Town Center Dr

Year built

2008

Lot size

10.03 AC

Property size (Sq ft)

127,717 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

18-05-22-1-011-001.001

APU

1805221011001001

Description

This exceptional investment opportunity presents a two-building medical office and warehouse complex totaling 129,814 square feet situated on 16.32 acres in Anniston, Alabama. The property, built in 1976 with HVAC upgrades in 2008, features 16 units across two single-story buildings and currently houses seven tenants under a modified lease structure with a weighted average lease term of approximately 4.4 years. The complex boasts a 75% overall occupancy rate, with the medical building at approximately 63% and the warehouse at 87%. Significant upside potential exists due to below-market rents and opportunities for lease bumps. The property offers a pro-forma NOI of $678,251 and a pro-forma cap rate of 9.50%, with an asking price of $7,139,482 ($55/sq ft). Located in a high-traffic area off McClellan Boulevard (approximately 24,020 vehicles per day), the property benefits from its proximity to major retailers such as Lowe's, Walmart, and numerous restaurants, and is approximately six miles from the Northeast Alabama Regional Medical Center. Lease options are available, presenting further flexibility for potential investors. This Class B property is a value-add investment opportunity, offering the potential for significant returns through lease optimization and increased occupancy. The property is available for purchase as a whole or separately.

• CAP approach

  CAP return

  Valuation

  6%

  $27,012,702

  6.5%

  $24,934,802

  7%

  $23,153,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,803,820

  Geo Method

  $24,912,478

• Alternative Use

  Use

  Valuation

  Residential

  $30,919,154

  Hospitality

  $28,321,780

  Educational

  $23,563,388

  Medical

  $24,373,770

  Retail

  $36,654,160

Location Insight

City

Anniston

County

Calhoun

State

Alabama

Latitude

33.7137

Longitude

-85.7856

CBSA code

11500

CBSA name

ANNISTON-OXFORD, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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