6554 Aaron Aronov DrFairfield, AL 35064
- Healthcare properties
- 5,654 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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