20 Commerce Ave - Warehouse FOR SALE


Bessemer, AL 35023
$850,000 USD
205-510-9127
20 Commerce Ave, Bessemer, AL for Sale
$850,000 USD
Warehouse - FOR SALE
1/8
null | 8.13% Cap Rate

20 Commerce Ave
Bessemer, AL 35023


HIGHLIGHTS

  • NNN Lease with Minimal Landlord Responsibilities and Annual Increases
  • Below Market Rents Presents Opportunity for Upside at Lease Maturity
  • Industrial Asset Offering Immediate Access to I-20/59 and I-459
  • Situated in a Pro-Business Municipality with Federal Opportunity Zones
  • Proximity to Norfolk Southern and CSX Lines, as well as Birmingham Shuttlesworth International Airport

OVERVIEW

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

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

8.13%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

4

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.26

LAND SF

54,814

ZONING

M-1

APN/PARCEL ID

30-00-29-4-001-013.000

ASK ABOUT THIS PROPERTY

Brian HigdonMarcus & MillichapMore Info
205-510-9127

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Brian HigdonMarcus & MillichapMore Info
205-510-9127

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.