Listed by Matthews
$1,591,363
Physicians Care Walk-In Clinic
Details
Property Type Office
Sub Type Medical Office
Square Footage 3,180
Cap Rate 7%
NOI $111,395
Lease Expiration 04/06/2033
Remaining Term 6.8
Price per SqFt $500
Year Built 2000
Year Renovated 2022
Buildings 1
Stories 1
Brand New 10-Year NN Lease – Corporate Urgent Care in Booming Birmingham MSA
Investment highlights
- Long-Term Lease Commitment: The tenant, Urgent Team, executed a brand new 10-Year lease after completion of the property’s renovation. This long-term commitment, paired with the tenant's initial investment in the site, underscores their confidence in this specific location’s long-term viability.
- Corporate Guarantee & Regional Strength: Urgent Team is one of the Southeast's largest independent operators of urgent and family care, boasting 85+ locations across five states. The lease features a corporate guarantee, providing an added layer of security from a scaled, professional healthcare provider.
- Passive Income & Minimal Oversight: The NN lease structure is ideal for both local and out-of-state investors. Landlord responsibilities are limited strictly to roof and structure, while the tenant handles taxes, insurance, and CAM reimbursements, ensuring a low-management, "hands-off" investment.
- Prime Retail Corridor & High Visibility: The asset is perfectly positioned on Montgomery Highway, a primary commuter artery seeing over 35,000 vehicles per day. It sits within a high-traffic retail hub anchored by Walmart, Lowe’s, Publix, and Costco. This "daily needs" synergy drives consistent brand awareness and walk-in traffic essential for urgent care success.
- Sticky Healthcare Tenancy: Medical tenants are historically "sticky" due to the massive upfront costs of specialized clinical build-outs and the difficulty of transferring patient bases. This provides the owner with a recession-resistant asset that is unlikely to relocate.
- Birmingham MSA Growth: Located in the Birmingham-Hoover MSA—home to 25% of Alabama's population—the area is experiencing its most significant economic expansion since 2008. Hoover has seen an 8.8% population surge over the last five years, signaling robust long-term demand for healthcare services.
- Affluent Demographics: The property serves a highly desirable demographic, with an average household income exceeding $110,000 within a 1-mile radius. This affluent pocket ensures a strong patient base with high disposable income and quality insurance coverage.
- Medical Cluster Proximity: The site is strategically located near major medical anchors, including UAB Medicine Hoover and Shelby Baptist Medical Center (252 beds). This proximity creates a "medical cluster" effect, where the subject property benefits from the overflow and referral patterns of the region's largest specialty hospitals.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$111,395.00
$9,282.92/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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