224 1St StAlabaster, AL 35007

Property Details for 224 1St St

Year built

2001

Construction

WOOD

Lot size

1.40 AC

Property size (Sq ft)

19,854 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

137354001020000

APU

137354001020000

Description

This exceptional two-story, Class A medical office building, totaling 19,854 square feet, is situated on 1.4 acres in Alabaster, Alabama's thriving Medical Mile. Built in 2001, the property boasts 110 parking spaces and offers multiple suites for lease, with one immediately available space of 1,929 square feet. The minimum divisible space is also 1,929 square feet, making it ideal for a variety of medical or traditional office uses. The building features a total of five suites. This prime location within Shelby County benefits from its proximity to major transportation routes, ensuring convenient access for patients and employees. The Medical Mile is experiencing significant commercial growth, attracting a diverse range of businesses and healthcare facilities, creating a vibrant and dynamic environment. This presents a unique opportunity to establish a presence in a rapidly expanding commercial corridor known for its concentration of healthcare providers and related businesses. The property's strategic location and modern amenities make it an attractive option for businesses seeking a high-quality space in a thriving medical hub. The building's Class A designation reflects its superior construction, design, and amenities.

• CAP approach

  CAP return

  Valuation

  6%

  $4,199,208

  6.5%

  $3,876,192

  7%

  $3,599,321

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,234,018

  Geo Method

  $3,872,721

• Alternative Use

  Use

  Valuation

  Residential

  $4,806,478

  Hospitality

  $4,402,708

  Educational

  $3,663,001

  Medical

  $3,788,977

  Retail

  $5,698,002

Location Insight

City

Alabaster

County

Shelby

State

Alabama

Latitude

33.2458

Longitude

-86.8151

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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