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About This Home
This 0-bedroom, 0-bathroom commercial at 1112 Gene Reed Road in Birmingham, AL is listed for $4,980,000 ($573 per sqft). Built in 1985, the home offers 8,696 sqft of living space on a 1.21 acres lot.
Absolute NNN lease. Tenant vascular surgery center recently acquired by Grandview Health. Lease start date 10/6/21 for 10 year term with 2% annual rent increases. Current annual rent is $248,959.34 There are 5 renewal options for 3 years each. Tenant responsible for all operating expenses plus structural repairs.
Value add opportunity with 1,162 sf surplus building (former pharmacy) that could be separated from main lease and then rented by to another tenant. Based on an 80% improvement to total property ratio and MOB average cost seg percentages, first year bonus depreciation could be in the range of $1,593,000 to $2,390,400, depending on buyer's tax professional's advice.
Key Features
- Built in 1985
- 1.21 acre lot
Property Details
Monthly Cost Estimate
$26,634/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1112 Gene Reed Road
Birmingham, AL 35235
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 1112 Gene Reed Road is listed at $4,980,000 ($573/sqft). The estimated monthly payment is $21,580 based on 20% down at 6.5% interest.
Key features include: Built in 1985, 1.21 acre lot.
This property is listed by Denise Evans and can be reached at 2053103799 or denise@butlerevansrealestate.com.