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- LoopNet Team
318 Hamer Rd
Owens Cross Roads, AL 35763
Absolute Triple Net Property Strong Cash Flow · Health Care Property For Sale · 40 Beds
INVESTMENT HIGHLIGHTS
- Strong cash flow on an absolute triple net 10 year lease. Over an 8% cap rate over the term of the lease.
- 3 Buildings & 3 Portable Buildings for a total of 21,667 SF consisting of classrooms, dorm rooms, recreational areas, dining hall, storage
- Lease term is 10 years with 5 year option and current term begins 3/1/2020 with 2.5% escalators in the lease for annual rent.
- The facility has been continuously operated since 1996 at this location. Tenant is a national company with almost 50 locations.
- Proposed 8,453 SF dorm addition is to be constructed by 6/1/2020 weather permitting.
- Tenant responsible for all repair/maintenance/replacement. Tenant pays property tax and insurance directly.
PROPERTY FACTS
| Property Type | Health Care | Building Size | 21,537 SF |
| Property Subtype | Rehabilitation Center | No. Beds | 40 |
| Building Class | B | No. Stories | 1 |
| Lot Size | 14.00 AC | Year Built/Renovated | 1965/1999 |
| Property Type | Health Care |
| Property Subtype | Rehabilitation Center |
| Building Class | B |
| Lot Size | 14.00 AC |
| Building Size | 21,537 SF |
| No. Beds | 40 |
| No. Stories | 1 |
| Year Built/Renovated | 1965/1999 |
ABOUT 318 HAMER RD , OWENS CROSS ROADS, AL 35763
Residential Treatment Facility- Owens Cross Roads is currently a 40-bed residential behavioral healthcare facility for children and has been in operation at this location since 1996. The facility was originally constructed in 1965 with subsequent additions in 1995 and 1999 and is located on an approximate 14+/- acre campus. The facility is comprised of 3 building that total 21,667 SF. Building 1 is a 4,259 SF dorm building; building 2 is an 11,141 SF classroom, dorm, dining hall and recreation building. Building 3 is a 3,750 SF recreational center/gym. The property is comprised of three separate but contiguous tracts. A proposed 8,453 SF dormitory addition is being scheduled to be constructed by June 1, 2020, weather permitting. The lease term is ten years with a five year option. The current term begins March 1, 2020. There are 2.5% annual escalators in the lease for the annual rent.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $425,860 | |
| Land Assessment | $67,500 | Total Assessment | $493,360 |
PROPERTY TAXES
ZONING
| Zoning Code | Commercial (Estate Residential and Special District) |
| Commercial (Estate Residential and Special District) |
