Rare Birmingham Office & Warehouse Investment Oportunity

Office for Sale
Also listed as Industrial
Catylist Listing ID: 30530206
Property Subtypes: Executive Suites, Governmental, Flex Space, Office Building
Building Size (RSF): 49,000 SF
Gross Land Area: 3.53 Acres
Sale Price: $3,000,000
Unit Price: $61.22 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Beacon
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 9.45%
Last Updated: 11/1/2020

Overview / Comments

+ Tenants: Alabama Department of Corrections (ADOC), Birmingham Sports Academy, Nonprofits, Tax/ Real Estate Professionals, etc.

+ Located on Beacon Parkway, just off the intersection of Valley Avenue and Green Springs Highway and just minutes from Interstate 65, the Property sits at the perfect location between downtown Birmingham and the suburbs to the south.

+ 3-story masonry building with 2 entrances - located on both the first and second floors for ease of entry.

+ The building was renovated in 2010 and 2016 with new electrical work and new HVAC installed.

+ 6,000 SF warehouse included in property sale; current tenant is a training facility.

+ Ample parking with 152 spaces within private lot just for building tenants

+ Located in Historically Underutilized Business Zone (HUBZone)

• NOI: $258,593.31 (8.62% cap)

Current Tenants

Tenant Business Name Alabama Department of Corrections (ADOC)
Website URL http://www.doc.state.al.us
Is Renting? Yes
SF of Space Occupied 12,000 SF
Escalations 3% Annual increase
Options Two, 5-year options
Tenant Notes Used as a training center for its new officers. Only 1 training center in Birmingham, AL.

Additional Details

Nearest MSA: Birmingham-Hoover
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 2900142001009000
Zoning: B2
Property Visibility: Good
Highway Access: I-65
Total Number of Buildings: 2
Number of Stories: 3
Typical SF / Floor: 13,000 SF
Year Renovated: 2016
Parking Type: Surface
Total Parking Spaces: 152
Passenger Elevators: 1
Internet Access: Fiber Optic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,727 94,322 217,381
Median Age: 31.66 35.1 37.41
Households: 7,159 41,081 91,661


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