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VisionAmerica Single Tenant Lease | Alabama

250 STATE FARM PARKWAY, HOMEWOOD, ALABAMA, 35209
$3,133,333

Description

Marcus & Millichap is pleased to present this net leased VisionAmerica located at 250 State Farm Parkway in Homewood, Alabama. VisionAmerica occupies a 10,000 square-foot building at the corner of State Farm Parkway and Wildwood Circle North in one of Birmingham’s most desirable retail trade area.
This property sitting on a 1.84-acre-parcel of land benefits from 179,291 full time residents with a household income exceeding $77,896 annually in the market area.
There are six years remaining on the original 10 Year lease with $2,500 increases in rent every two years, including during the five-year option period.
There are numerous National and Regional retailers in the immediate area including Hilton Garden Inn Hotel, Lowe’s, McAlister’s Deli, Sprint Store, AT&T, Walmart, Sam’s Club, McDonald’s, Moe’s SOuthwest Grill, Planet Fitness, IHOP, Wendy’s, Starbucks and Wells Fargo Home Mortgage among others.

  • Corporate Guarantee – 16 Locations
  • 6+ Years Remaining on the Original 10 Year Lease
  • $2,500 Increases Every 2 Years
  • Over 179,291 Full Time Residents within the Market Area
  • Above Average HHI of $77,896, Annually
  • Traffic Counts Exceed 30,078 Vehicles Per Day
  • Signalized Intersection – at the Corner of State Farm Pkwy and Wildwood Circle N
  • Strong Operational History (Tenant has been here since 1999 – Year Built)

Property Documents

  • Vision-America-Homewood-AL-om-ib
  • City: Homewood
  • State/county: Alabama
  • Zip/Postal Code: 35209
  • Country: United States

Detail

  • Price: $3,133,333

Additional details

  • CAP Rate: 7.50%
  • NOI: $235,000

Features