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INVESTMENT HIGHLIGHTS
- 2026 Cap Rate – 10.33% - Rent increases from $225,000 to $240,000 in March of 2026.
- Premiere location - ideally situated at the intersection of 20th Ave East and Hwy 78 which sees over 25,000 Vehicles per day.
- Government-Backed Income – Dependable rental payments supported by the State of Alabama and local government credit.
- Nearly 50 Years of Continuous Tenancy – Walker County Health Department has operated at this location since 1977.
- Sticky Tenancy – No other building in Jasper offers the size or infrastructure necessary for the Health Department.
EXECUTIVE SUMMARY
The Walker County Department of Human Resources has occupied this 30,000-square-foot building in Jasper, Alabama since 1978, establishing nearly five decades of continuous government tenancy. While the current lease technically contains a termination clause, the agency’s reliance on the facility, combined with the lack of comparable alternatives in Jasper, makes early termination highly unlikely. The result is a stable, government-backed income stream in a desirable location with frontage on Highway 78.
Jasper serves as the county seat and anchors the Jasper Micropolitan Statistical Area, which encompasses all of Walker County. It is also part of the broader Birmingham–Cullman–Talladega Combined Statistical Area. The property benefits from outstanding visibility and accessibility along Highway 78 and sits in close proximity to Walker Baptist Medical Center, Walmart, and numerous national retailers. This strategic positioning enhances demand for civic, institutional, and administrative uses, further strengthening the investment profile.
The building itself provides excellent functionality with its 30,000-square-foot footprint, ample surface parking, and infrastructure designed to support administrative operations. These features not only ensure the Department of Human Resources’ ongoing use but also create long-term flexibility for potential conversion to other government, educational, or institutional tenants should the property ever be repositioned.
Jasper serves as the county seat and anchors the Jasper Micropolitan Statistical Area, which encompasses all of Walker County. It is also part of the broader Birmingham–Cullman–Talladega Combined Statistical Area. The property benefits from outstanding visibility and accessibility along Highway 78 and sits in close proximity to Walker Baptist Medical Center, Walmart, and numerous national retailers. This strategic positioning enhances demand for civic, institutional, and administrative uses, further strengthening the investment profile.
The building itself provides excellent functionality with its 30,000-square-foot footprint, ample surface parking, and infrastructure designed to support administrative operations. These features not only ensure the Department of Human Resources’ ongoing use but also create long-term flexibility for potential conversion to other government, educational, or institutional tenants should the property ever be repositioned.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Building Size
30,000 SF
Building Class
B
Year Built/Renovated
1978/2021
Price
$2,015,000
Price Per SF
$67.17
Cap Rate
9.59%
NOI
$193,292
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
15,000 SF
Slab To Slab
10’
Building FAR
0.41
Lot Size
1.66 AC
Zoning
OT - Office Transition District - applied in areas undergoing gradual change from residential to commercial use, especially along major corridors
Parking
93 Spaces (3.1 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Public Administration
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Statewide government office for the state of Alabama founded in 1819.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
Public Administration | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 17-02-10-1-104-002-0010 | Total Assessment | $310,200 |
| Land Assessment | $77,860 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $232,340 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
17-02-10-1-104-002-0010
Land Assessment
$77,860
Improvements Assessment
$232,340
Total Assessment
$310,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1901 Highway 78 E
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