Office Medical
Southern Focus Vision Center
754 Main St, Gardendale, AL 35071
Listing Price: $916,025
Investment Overview
Property Overview
Marcus & Millichap presents a single-tenant, net-leased medical office property at 754 Main St in Gardendale, Alabama, within the Birmingham-Hoover MSA. The 2,900 SF building sits on 1.29 acres and has been continuously occupied by Southern Focus Vision Center since 2006, leased to Team Vision, LLC on a triple net (NNN) basis with approximately 6 years remaining on the primary term (expiring 5/31/2032), two five-year renewal options, and 2% annual rent escalations; the tenant is backed by EssilorLuxottica (Euronext: EL), the world's largest eyewear company with ~$32B in annual revenue and 17,600+ retail locations globally. Situated immediately adjacent to Gardendale High School in an affluent trade area with a 3-mile average household income of $97,188 (a 40% premium over the Birmingham MSA average), the property benefits from strong access via I-65 (97,580+ VPD) and Decatur Hwy (15,000+ VPD) near national retailers such as Publix, Walmart, and CVS, offering investors a long-term, corporate-backed net lease investment with built-in rent growth in a strong Birmingham-area submarket.
Southern Focus Vision Center
Investment Highlights
- Single Tenant Net Lease Medical Office: 2,900 SF freestanding building on 1.29 acres, purpose-built in 2005/2006 for Southern Focus Vision Center
- 7.75% Cap Rate on in-place NOI of $70,992; offered at $916,025 ($315.87/SF)
- Built-In Rent Growth: 2% annual rent escalations throughout the primary term, growing NOI and cap rate to 8.55% by lease end
- Continuously Operating Since 2006: Nearly 20-year operating history at this location demonstrates strong tenant commitment to the site
- Affluent, Growing Trade Area: 3-mile average household income of $97,188, a 40% premium over the Birmingham MSA average ($69,447)
- Built-In Patient Base: Immediately adjacent to Gardendale High School and close to Gardendale Elementary and Bragg Middle School, plus UAB Medicine nearby
- Located in the Birmingham-Hoover MSA: Alabama's largest metro area (1.2M population) with a diversifying economy in healthcare, biotech, and advanced manufacturing
Broker of Record
-
Eddie Greenhalgh
Senior Managing Director Investments
Financing By
Listing Price: $916,025
Investment Highlights
- Single Tenant Net Lease Medical Office: 2,900 SF freestanding building on 1.29 acres, purpose-built in 2005/2006 for Southern Focus Vision Center
- 7.75% Cap Rate on in-place NOI of $70,992; offered at $916,025 ($315.87/SF)
- Built-In Rent Growth: 2% annual rent escalations throughout the primary term, growing NOI and cap rate to 8.55% by lease end
- Continuously Operating Since 2006: Nearly 20-year operating history at this location demonstrates strong tenant commitment to the site
- Affluent, Growing Trade Area: 3-mile average household income of $97,188, a 40% premium over the Birmingham MSA average ($69,447)
- Built-In Patient Base: Immediately adjacent to Gardendale High School and close to Gardendale Elementary and Bragg Middle School, plus UAB Medicine nearby
- Located in the Birmingham-Hoover MSA: Alabama's largest metro area (1.2M population) with a diversifying economy in healthcare, biotech, and advanced manufacturing
Investment Overview
Property Overview Marcus & Millichap presents a single-tenant, net-leased medical office property at 754 Main St in Gardendale, Alabama, within the Birmingham-Hoover MSA. The 2,900 SF building sits on 1.29 acres and has been continuously occupied by Southern Focus Vision Center since 2006, leased to Team Vision, LLC on a triple net (NNN) basis with approximately 6 years remaining on the primary term (expiring 5/31/2032), two five-year renewal options, and 2% annual rent escalations; the tenant is backed by EssilorLuxottica (Euronext: EL), the world's largest eyewear company with ~$32B in annual revenue and 17,600+ retail locations globally. Situated immediately adjacent to Gardendale High School in an affluent trade area with a 3-mile average household income of $97,188 (a 40% premium over the Birmingham MSA average), the property benefits from strong access via I-65 (97,580+ VPD) and Decatur Hwy (15,000+ VPD) near national retailers such as Publix, Walmart, and CVS, offering investors a long-term, corporate-backed net lease investment with built-in rent growth in a strong Birmingham-area submarket.
Broker of Record
-
Eddie Greenhalgh
Senior Managing Director Investments
Financing By
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