737 Memorial DrBessemer, AL 35022

Property Details for 737 Memorial Dr

Year built

1970

Lot size

1.19 AC

Property size (Sq ft)

7,258 SF

Zone code

O1

Property type

Healthcare properties

Property subtype

Medical offices

APN

38-00-19-1-005-007.000

APU

3800191005007000

Description

This exceptional 6,500 square foot medical office building in Bessemer, Alabama, presents a compelling investment opportunity. Located on a 1.19-acre lot, the property boasts a prime location directly across from UAB Medical West, ensuring high visibility and accessibility. Built in 2020, the Class B building features a high-quality medical build-out, abundant parking, and easy access from AL-11 and I-20. Currently fully leased to high-quality tenants, including UAB Medical West Imaging and Birmingham Hematology, the property generates a gross annual income of $185,000 and a net operating income of $135,000, resulting in a current cap rate of 15.9%. Leases expire October 21, 2024. The single-story building is ideal for both owner-users and investors seeking a strong return in a thriving medical campus environment. The property's strategic location benefits from the proximity of UAB and the relocation of Birmingham Hematology, further enhancing its long-term value and potential. This is a rare opportunity to acquire a well-maintained, high-performing medical office building in a rapidly growing area. The property is zoned for medical use and offers significant potential for future growth and appreciation. The asking price is $595,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,535,099

  6.5%

  $1,417,014

  7%

  $1,315,799

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,182,256

  Geo Method

  $1,415,746

• Alternative Use

  Use

  Valuation

  Residential

  $1,757,098

  Hospitality

  $1,609,492

  Educational

  $1,339,078

  Medical

  $1,385,131

  Retail

  $2,083,011

Location Insight

City

Bessemer

County

Jefferson

State

Alabama

Latitude

33.3738

Longitude

-86.9888

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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