754 Main St - Medical FOR SALE


Gardendale, AL 35071
$916,026 USD
813-210-7741
754 Main St, Gardendale, AL for Sale
$916,026 USD
Medical - FOR SALE
1/2
null | 7.75% Cap Rate

754 Main St
Gardendale, AL 35071


HIGHLIGHTS

  • This is a triple-net lease investment opportunity featuring a purpose-built facility.
  • The property offers attractive investment-grade corporate backing through EssilorLuxottica (Euronext: EL).
  • The property is located adjacent to Gardendale High School with immediate proximity to surrounding residential neighborhoods.

OVERVIEW

Marcus & Millichap is pleased to present 754 Main St, Gardendale, Alabama—a single-tenant medical office building occupied by Southern Focus Vision Center and managed by TeamVision, LLC, part of the EssilorLuxottica family. This is a triple-net lease investment opportunity featuring a purpose-built facility constructed in 2005 that has continuously operated since 2006. The property offers attractive investment-grade corporate backing through EssilorLuxottica (Euronext: EL)—the world's largest eyewear company with approximately $32B in annual revenue, 200,000+ employees, and 17,600+ retail locations globally. The property is located adjacent to Gardendale High School with immediate proximity to surrounding residential neighborhoods providing a built-in patient base. The lease provides built-in 2% annual rent escalations throughout the primary term, providing a hedge against inflation and predictable NOI growth. The tenant holds two five-year renewal options, providing potential for over 16 years of total lease term. The property benefits from premium demographics in the immediate trade area with a 3-Mile Average Household Income of $97,188, representing a +40% premium over the Birmingham Average Household Income of $69,447.?

FOR SALE DETAILS

PRICE

$916,026 USD

PRICE/SF

$316 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-2 and R-4

APN/PARCEL ID

14-00-13-3-003-029.000

ASK ABOUT THIS PROPERTY

Christopher BiusoMarcus & MillichapMore Info
813-210-7741

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Christopher BiusoMarcus & MillichapMore Info
813-210-7741

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