580 Providence Park Dr E - Medical FOR SALE


Mobile, AL 36695- Thornhill
$9,200,000 USD
714-356-2682
580 Providence Park Dr E, Mobile, AL for Sale
$9,200,000 USD
Medical - FOR SALE
1/8
null | 6.32% Cap Rate

580 Providence Park Dr E
Mobile, AL 36695
Thornhill


HIGHLIGHTS

  • 77% Occupied By Forefront Management, LLC dba Advanced Dermatology & Skin Care Centre and Advanced Care Pharmacy
  • Value-Add Opportunity Through Build-Out and Lease-Up of Remaining Vacant Space
  • Main Hub for Advanced Dermatology & Skin Care Centre – One of Forefront Dermatology’s Top-Producing Clinics Serving All of Mobile County and South MS
  • Built-To-Suit Facility for Tenant in 2015 and Expansion of Additional Space in 2025
  • Forefront Lease Is Guaranteed by Forefront Dermatology –Forefront Is The Largest, Most Diversified Dermatology Group Practice In The US
  • Property Is Strategically Located Next To Ascension Providence Hospital: A 349-Bed Hospital With 24/7 Emergency Care Level III Trauma Center

OVERVIEW

Cook Commercial Partners is pleased to present the Forefront Dermatology facility (dba Advanced Dermatology & Skin Care Centre) located in Mobile, Alabama. This two-story, 21,012-square-foot medical office building was built-to-suit in 2015 for Advanced Dermatology & Skin Care Centre and features high-quality construction tailored for medical use. The property is currently 77% occupied, with Forefront Management, LLC leasing approximately 74% of the space and Advanced Care Pharmacy occupying an additional 3%. Forefront Dermatology recently expanded into 4,330 additional square feet and extended its lease through January 31, 2032. The lease includes attractive 1.50% annual rental increases and one 5-year renewal option, providing stable long-term income growth. This offering presents investors with a well-located, cash-flowing medical asset anchored by a strong tenant, along with value-add upside through the lease-up of the remaining 5,039 square feet (23%) of vacant space. Forefront is the largest, most diversified dermatology group practice in the US, with over 250+ clinic locations across 26 states. Forefront Dermatology enables its partner physicians to enjoy the financial and personal rewards of private practice, along with the professional support of a large, successful, physician-led dermatology practice.

FOR SALE DETAILS

PRICE

$9,200,000 USD

PRICE/SF

$438 USD /SF

CAP RATE

6.32%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advanced Dermatology & Skin Care Centre

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

77

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

B-3: Community Business

APN/PARCEL ID

28-04-20-3-000-008.048

ASK ABOUT THIS PROPERTY

Kassidy SevillaCook Commercial PartnersMore Info
714-356-2682

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

Kassidy SevillaCook Commercial PartnersMore Info
714-356-2682

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