3524 Decatur HwyFultondale, AL 35068

Property Details for 3524 Decatur Hwy

Year built

1987

Lot size

1.36 AC

Property size (Sq ft)

21,484 SF

Zone code

B1

Property type

Office properties

APN

14-00-24-3-002-001.000

APU

1400243002001000

Description

This exceptional three-story, 16,686 square foot office building in Fultondale, Alabama presents a compelling investment opportunity. Located at 3524 Decatur Hwy, this stabilized property boasts 100% occupancy, generating a strong NOI of $91,974 and a 7.36% cap rate. The asking price is $1,250,000, translating to a price per square foot of $74.91. The property features a diverse tenant mix including Chick-fil-A Professional Development Center and Birmingham Podiatry, ensuring a stable income stream. Ample parking is available with 53 spaces on the 1.32-acre lot. Situated in a thriving Jefferson County submarket, this property benefits from a large adjacent residential development currently under construction, promising future growth potential. The current rents are below market, offering significant upside for the new owner. The building's diverse uses, including medical office, storefront, and traditional office spaces, cater to a wide range of potential tenants. This is an ideal acquisition for owner-occupiers seeking a smaller office space or investors looking for a strong return on investment. The price per square foot represents 48% of replacement cost, further highlighting the value proposition.

• CAP approach

  CAP return

  Valuation

  6%

  $4,543,960

  6.5%

  $4,194,424

  7%

  $3,894,822

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,499,528

  Geo Method

  $4,190,669

• Alternative Use

  Use

  Valuation

  Residential

  $5,201,086

  Hospitality

  $4,764,167

  Educational

  $3,963,731

  Medical

  $4,100,050

  Retail

  $6,165,804

Location Insight

City

Fultondale

County

Jefferson

State

Alabama

Latitude

33.6298

Longitude

-86.8061

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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