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Browse More Listings in Office For Sale, Gadsden, AL or Alabama

Office Property For Sale

American General & Accident Insurance Company

309 West Grand Avenue, Gadsden, AL 35906

Price:
$584,000
Building Size:
4,000 SF
Price/SF:
$146
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Net Lease Investment with 2 years left on lease
Commission Split:
1.5%
Cap Rate:
9.50%
Occupancy:
100%
Tenancy:
Single
Lot Size:
17,500 SF
Find Out More...

Last Verified 10/19/2009 Listing ID 16195033

Highlights

Company Employs 5000 People Nationwide in 150 Offices
Company Has Issued 135000 Life Policies In Excess Of $15 Billion
AM Best Financial Strength Rating A Excellent As Of March 2 2009

Standard & Poors Financial Strength Rating A+ Strong

Description

BANK FINANCING AVAIL. 4,000 sf free-standing brick bldg built to suit. 5000 employees in US in 150 offices is headquartered in Nashville TN. S&P Fin. Strength Rated A+ Strong As Of March 2 2009.

The company has 16 offices in Alabama.

The Company has issued more than 135,000 Life Policies Exceeding $15 Billion
As Of March 2, 2009, The Company had a Financial Strength Rating By Standard & Poors Of A+ Strong, By AM Best Of A Excellent, And By Fitch Of AA- Very Strong.

Monthly Rent $4633.33 Lease Commencement August 15 2006
Lease Expiration August 14 2011
Renewal Option August 15 2011 Through August 14 2016
Option Rent $5217 A Month.

Tenant Carries Insurance At Tenants Sole Cost And Names Landlord With A- Or Higher Rated Company. Tenant Responsible For Paying Property Taxes and all maintenance and repairs and utilities. Landlord responsible for roof foundation and exterior walls Taxes in 2008 were $2069.56 a year

BANK FINANCING AVAIL. Located On Busy Hwy 77 A Main Retail And Commercial Corridor. Area Businesses Include Winn Dixie, Freds, Food World, Western Sizzlin, Walgreens, CVS, 2 Fitness Clubs, C Stores, and 4 Shopping Centers To Name A Few Within About a 1 Mile Radius.

Financial Summary

Major Tenant Information

Actual
Net Operating Income
$55,600

Tenant	SF Occupied	Lease Expired
American General Accident Insurance Co	4,000	8/1/2011

Map of 309 West Grand Avenue, Gadsden, AL 35906 (Etowah County)

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Created 4/15/2009

Additional Information for 309 W Grand Avenue, Gadsden, AL 35906

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

Comparable Properties for 309 West Grand Avenue, Gadsden, AL 35906

Nearby Office properties for saleSearch all commercial real estate for sale

524 West Grand Ave.
$400,000
2,500 SF
526-A West Grand Ave.
$550,000
7,600 SF

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Office Property For Sale - American General & Accident Insurance Company

309 West Grand Avenue, Gadsden, AL, 35906