For Sale

Oak Street Health

Birmingham, AL

CAP Rate

6.75%

.76

11,200

sq.ft

Overview

1) Corporate NNN Lease Backed by CVS Health: Corporate NNN lease to Oak Street Health, a wholly owned subsidiary of CVS Health (NYSE: CVS), providing passive ownership. 2) Embedded Rent Growth: A 10% contractual rent increase in just over a year lifts the going-in yield to approximately 7.42% at the list price, delivering built-in NOI growth. 3) True On-Campus Outparcel to Princeton Baptist Medical Center: The property sits as an outparcel to Princeton Baptist Medical Center, a 505-bed regional medical center serving central Alabama. The hospital logs an annual patient base of approximately 53,000 that anchors durable foot traffic and referral activity to the immediate trade area. Recent private investment including additional senior housing and additional medical services underscore the long-term importance of this healthcare hub. 4) Approximately 3 Miles from Downtown Birmingham: Located just west of Downtown Birmingham with direct access via I-20/59 and I-65, connecting the site to Birmingham's core employment base, UAB, and the broader metro population. The location pairs close-in urban accessibility with the stability of an established hospital campus.

Property Data

NOI:

$168,000

Year Built:

1983/2022

Lease Term:

6.2

Lease Type:

NNN

Options:

2 x 5 Year

Increases:

10% Every 5 Years

Location

Property

For Sale

$

2,488,889

Get in touch for more about this property

Featured Agents:

James Anderson - (214) 699-8039

Eric Anderson - (512) 649-4098

Get in Touch

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