6554 Aaron Aronov DrFairfield, AL 35064

  • Healthcare properties
  • 5,654 SF
For Sale
$939,485 View listing

Property Details for 6554 Aaron Aronov Dr

Year built
1994
Lot size
0.98 AC
Property size (Sq ft)
5,654 SF
Zone code
B2
Property type
Healthcare properties
Property subtype
Medical offices
APN
30-00-14-1-012-001.007
APU
3000141012001007

Description

This exceptional investment opportunity presents a 5,093-square-foot Class A retail building in Fairfield, Alabama, currently leased to American Family Care, Inc. under a new 15-year Absolute NNN lease commencing August 1, 2023, and expiring July 31, 2038. The property boasts a strong 7.21% cap rate and a substantial net operating income (NOI) of $67,737. The lease includes annual rent bumps tied to CPI increases, with a 2% floor and no cap, ensuring consistent income growth. The tenant, American Family Care, Inc., provides a corporate guarantee, mitigating risk. The building enjoys a highly visible location on Aaron Aronov Drive, experiencing an impressive 16,595 average annual daily traffic (AADT) in 2022. Its strategic proximity to Miles College (1.7 miles) and Lawson State Community College (2.9 miles) further enhances its appeal and potential for long-term success. The property offers a compelling investment proposition with minimal landlord responsibilities due to the Absolute NNN lease structure. The asking price is $939,485, translating to a price per square foot of $184.47. This represents a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential. The lease also includes a 10-year option.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,195,846
    6.5%
    $1,103,858
    7%
    $1,025,011
  • Comparable approach

    Method
    Valuation
    Relative Method
    $920,980
    Geo Method
    $1,102,869
  • Alternative Use

    Use
    Valuation
    Residential
    $1,368,783
    Hospitality
    $1,253,798
    Educational
    $1,043,145
    Medical
    $1,079,021
    Retail
    $1,622,670
6554 Aaron Aronov Dr, Fairfield, Alabama

Location Insight

City
Fairfield
County
Jefferson
State
Alabama
Latitude
33.4719
Longitude
-86.921
CBSA code
13820
CBSA name
BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$12,671
$59,720
$152,880
$212,600
-
$298,600
$764,400
$1,063,000

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