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Office Medical

Chelsea Medical Plaza

15582 US-280, Chelsea, AL 35043

Listing Price: $3,500,000

Cap Rate
7.68%
Gross SF
14,600
Rentable SF
14,600
Price/Gross SF
$239.73
Occupancy
100.0%
Year Built
2011
Lot Size
2.26 acres

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to purchase the leasehold interest in a 100% occupied medical office building located directly off U.S. Highway 280 in the upscale Metro Birmingham community of Chelsea, Alabama (10 miles southeast of Birmingham). The building is anchored by Brookwood Baptist Health and located adjacent to a new Publix-anchored shopping center. The asset totals 14,600 square feet with 5 tenants, 3 of which are original to the development. Each suite is separately metered with each tenant responsible for utilities and additional expenses resulting in minimal landlord responsibilities. Thirty-eight (38) years remain on the ground lease, with three (3), five (5) year renewal options. This property features frontage and visibility along US Hwy 280 which sees over 36,000 vehicles per day. The tenant mix is designed to promote a collaborative environment between practices in the buildings, which contributes to 0% vacancy throughout the lifetime of the asset. This patient-centric approach describes the trend in which medical service providers favor properties featuring superior amenities located in consumer rich areas. The offering presents an investor an opportunity to enjoy steady cash flows while enhancing value through rent increases at lease renewals for the majority of tenants.

Investment Highlights

  • 100% Leased Investment Opportunity with Minimal Landlord Obligations
  • Beautiful, Well-Maintained Building with Modern Finishes
  • Highway 280 Frontage in Affluent Chelsea Community
  • Quality Tenant Mix Featuring Rent Escalations

Exclusively Listed By

Office Medical

Chelsea Medical Plaza

Listing Price: $3,500,000

Cap Rate
7.68%
Gross SF
14,600
Rentable SF
14,600
Price/Gross SF
$239.73
Occupancy
100.0%
Year Built
2011
Lot Size
2.26 acres

Investment Highlights

  • 100% Leased Investment Opportunity with Minimal Landlord Obligations
  • Beautiful, Well-Maintained Building with Modern Finishes
  • Highway 280 Frontage in Affluent Chelsea Community
  • Quality Tenant Mix Featuring Rent Escalations

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to purchase the leasehold interest in a 100% occupied medical office building located directly off U.S. Highway 280 in the upscale Metro Birmingham community of Chelsea, Alabama (10 miles southeast of Birmingham). The building is anchored by Brookwood Baptist Health and located adjacent to a new Publix-anchored shopping center. The asset totals 14,600 square feet with 5 tenants, 3 of which are original to the development. Each suite is separately metered with each tenant responsible for utilities and additional expenses resulting in minimal landlord responsibilities. Thirty-eight (38) years remain on the ground lease, with three (3), five (5) year renewal options. This property features frontage and visibility along US Hwy 280 which sees over 36,000 vehicles per day. The tenant mix is designed to promote a collaborative environment between practices in the buildings, which contributes to 0% vacancy throughout the lifetime of the asset. This patient-centric approach describes the trend in which medical service providers favor properties featuring superior amenities located in consumer rich areas. The offering presents an investor an opportunity to enjoy steady cash flows while enhancing value through rent increases at lease renewals for the majority of tenants.

Exclusively Listed By

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