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407 S 4th St 2,023 SF Office Building Gadsden, AL 35901 $596,253 ($294.74/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Lease: Fully leased to Surgical Dermatology Group with a 12-year NN+ lease, approximately 9 years remaining with 2.5% annual increases.
- Large Guarantor: Lease guaranteed by Aqua Dermatology, the Southeast’s largest and most comprehensive full-service skin care provider.
- Close to Major Hospital: In close proximity to the 281-bed Riverview Regional Medical Center, enhancing tenant synergy.
- Established Tenant: Surgical Dermatology Group provides comprehensive dermatology at 9 locations across Alabama.
- Prime Medical Hub Location: Situated in Gadsden, Alabama, surrounded by complementary medical clinics.
EXECUTIVE SUMMARY
Randall Commercial Group, LLC is pleased to offer for sale a single-tenant medical investment property located in Gadsden, Alabama. This investment opportunity is fully leased to Surgical Dermatology Group, which signed a 12-year NN+ lease in 2022 with approximately 9 years remaining. The lease is guaranteed by Aqua Dermatology, the largest and most comprehensive full-service skin care provider in the Southeast (Source:https://www.aquadermatology.com/). The property is situated in a prime medical hub,surrounded by numerous complementary medical clinics and in close proximity to the 281-bed Riverview Regional Medical Center.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
2,023 SF
Building Class
C
Year Built
1976
Price
$596,253
Price Per SF
$294.74
Cap Rate
7.50%
NOI
$44,719
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,023 SF
Building FAR
0.10
Lot Size
0.48 AC
Opportunity Zone
Yes
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PROPERTY TAXES
| Parcel Number | 15-02-09-1-000-145.000 | Improvements Assessment | $46,560 |
| Land Assessment | $17,940 | Total Assessment | $64,500 |
PROPERTY TAXES
Parcel Number
15-02-09-1-000-145.000
Land Assessment
$17,940
Improvements Assessment
$46,560
Total Assessment
$64,500
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407 S 4th St
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