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Listed price in listed location currency (USD).
$4,980,000

000

MLS® 168855

  • Key Facts
  • Description
  • Map

Key Facts

Type Office
Levels Commercial Sale
Size 8696 sqft
Garage No
Maintenance Fees 
Taxes $27,208
Days Active 211
Approx. Age 1985
Avg. Price Per Sqft $572
MLS® Number 168855

Property Address: 1112 Gene Reed Rd, Birmingham, AL, 35235-2405

Average square foot calculated using Size range provided by listing agent.

Description

Absolute NNN lease. Tenant is a vascular surgery center recently acquired by a local hospital group. Lease start date 10/6/21 for 10 year term with 2% annual rent increases. Current annual rent is $244, 077.79. At expiration of initial 10-year term there are 5 renewal options for 3 years each. Tenant responsible for all operating expenses plus structural repairs. Desirable investment because experts estimate that medical office buildings generate a higher percentage of bonus depreciation than other investment types, typically in the 40% to 60% range. Buyers must confirm with their own tax professionals, but if the estimates are accurate, then based on an 80% improvement to total property ratio, first year bonus depreciation would be in the range of $1, 593, 000 to $2, 390, 400 Site visits, nor contact with tenant, permitted except as arranged by listing agent.
MLS® Number168855
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1985
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

May 20, 2025List Date
$4,980,000List Price
  • Commute

Commute

Starting Address
Destination Address
1112 Gene Reed Rd, Birmingham, AL

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