617 Bessemer Super HwyBirmingham, AL 35228

Property Details for 617 Bessemer Super Hwy

Year built

1985

Lot size

6.50 AC

Property size (Sq ft)

71,914 SF

Zone code

B2

Property type

Retail properties

Property subtype

Strip malls

APN

30-00-23-4-008-002.000

APU

3000234008002000

Description

This exceptional 65,750 square foot shopping center in Birmingham, AL, presents a compelling investment opportunity. Located on a 6.5-acre lot at 617 Bessemer Super Hwy, Midfield, AL 35228, this Class B, multi-tenant property boasts 100% occupancy with 11 tenants under a modified lease structure. Built in 1985 and renovated in 1986, the property generates a strong Net Operating Income (NOI) of $346,031, representing a 9.75% cap rate at an asking price of $3,550,000 ($53.99/sq ft). The property benefits from excellent visibility and accessibility, situated along a major retail corridor with over 21,200 vehicles passing daily. Four points of ingress and egress provide convenient access. The property's strategic location within the Birmingham MSA serves a substantial population of approximately 119,000 within a 5-mile radius. Two additional parking lot leases further enhance revenue streams. This fee-simple ownership offers a stabilized investment with long-term retail tenants. The property's strong performance and prime location make it an attractive addition to any portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $22,358,884

  6.5%

  $20,638,968

  7%

  $19,164,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $29,519,456

  Geo Method

  $35,349,412

• Alternative Use

  Use

  Valuation

  Residential

  $17,409,742

  Hospitality

  $15,947,231

  Educational

  $13,267,909

  Medical

  $13,724,212

  Retail

  $20,638,968

Location Insight

City

Birmingham

County

Jefferson

State

Alabama

Latitude

33.4533

Longitude

-86.9237

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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