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Hillside Office Plaza 224 1st St N 19,854 SF 90% Leased Office Building Alabaster, AL 35007 $3,103,448 ($156.31/SF) 7.25% Cap Rate
Investment Highlights
- 26,600 vehicles per day and seamless connectivity to I-65.
- Less than one mile from Shelby Baptist Medical Center.
- Average household incomes exceeding $112,000 within a 5-mile radius.
Executive Summary
Multi-tenant medical office building located in the heart of Alabaster’s booming healthcare corridor, surrounded by top providers and amenities along the prestigious Main Street Medical Mile. Acquisition pricing presents a compelling discount to today’s medical office construction costs, creating significant intrinsic value from day one. Prominently positioned on Highway 31 with visibility to over 26,600 vehicles per day and seamless connectivity to I-65. Located in a high-income trade area with average household incomes exceeding $112,000 within a 5-mile radius, supporting strong patient volumes and tenant performance. Less than one mile from Shelby Baptist Medical Center, a regional destination drawing over 51,000 patient visits annually, driving traffic and reinforcing the area’s medical ecosystem.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
19,854 SF
Building Class
B
Year Built
2000
Price
$3,103,448
Price Per SF
$156.31
Cap Rate
7.25%
NOI
$225,000
Percent Leased
90%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,927 SF
Building FAR
0.33
Lot Size
1.40 AC
Zoning
B1 - Business
Parking
110 Spaces (5.54 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
The suite includes a waiting room with an adjoining receptionist office, three offices, a breakroom, a large open area, storage, and data rooms.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,929 SF | Office | Full Build-Out | Now |
1st Floor
| Size |
| 1,929 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Floor
| Size | 1,929 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
The suite includes a waiting room with an adjoining receptionist office, three offices, a breakroom, a large open area, storage, and data rooms.
Property Taxes
| Parcel Number | 13-7-35-4-001-020-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $473,020 |
Property Taxes
Parcel Number
13-7-35-4-001-020-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$473,020
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Hillside Office Plaza | 224 1st St N
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