Listed by Sands Investment Group
$925,000
River Region Vision Source - Montgomery, AL
Details
Property Type Office
Sub Type Medical Office
Square Footage 13,542
Cap Rate 11.62%
NOI $107,525
Occupancy 100%
Tenancy Single
Brand/Tenant River Region Vision Source
Lease Type Modified
Lease Term 5
Lease Expiration 01/31/2029
Remaining Term 2.7
Rent Bumps Yes
Lease Options Year-to-Year
Price per SqFt $68
Year Built 1972
Buildings 1
Acreage 0.610
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/17/2024
Vision Source Medical Office | 2% Annual Increases | Montgomery, AL
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 13,542 SF River Region Vision Source property located at 2020 Normandie Drive in Montgomery, AL. The property benefits from surrounding residential neighborhoods and strong daytime traffic patterns, supporting consistent patient volume. The lease permits optometry use and allows subleasing to other medical and professional office tenants, providing enhanced future flexibility, along with 2% annual rent escalations that support steady income growth
Investment highlights
- Located in Alabama’s capital city and supported by major healthcare anchors including Baptist Health and Jackson Hospital, driving sustained demand for medical office and outpatient services.
- The property benefits from surrounding residential neighborhoods and strong daytime traffic patterns, supporting consistent patient volume.
- Strategically located along Normandie Drive, surrounded by medical offices, specialty clinics, and established healthcare users.
- The tenant has operated successfully for 14 years and maintains three locations across Alabama.
- The practice delivers comprehensive, medically driven eye care, combining advanced diagnostic services, specialized treatment programs, and long-term vision management for both routine and complex patient needs.
- The lease features 2% annual rent escalations, providing predictable income growth.
- Priced below replacement cost and well below market rents. The current tenant is paying $8.94/SF gross in a market where medical rents range from $19–$26/SF gross, offering a strong value-add upside.
Listing Contacts
Listed by Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,525.00
$8,960.42/mo
Valuation Metrics
0
DSCR
11.62%
Cap Rate
11.62%
ROI
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