Marcus and Millichap is pleased to present the opportunity to acquire the property located at 20 Commerce Ave, in the Birmingham, Alabama suburb of Bessemer. The building is 100 percent leased to Royal Brass & Hose, a mobile equipment distributor with 11 locations. The property is situated on 1.26 acres of and resides in the Commerce Industrial Park just off the I-20 corridor allowing access to Birmingham and Atlanta. The Bessemer submarket benefits from extensive rail access, including nearby Norfolk Southern and CSX lines, as well as proximity to Birmingham Shuttlesworth International Airport.
The purchase of this offering presents an investor with the opportunity to acquire a fully occupied industrial asset in a well-positioned location along the I-20 corridor with below-market rents and a credit tenant. At the current list price of $850,000, the investment generates an in-place net operating income of $70,000 with 3 percent increases, and 2 years remaining following a recent two-year extension. The current lease rate of $7/SF NNN is below market presenting additional upside at lease maturity