Century Office Center
$5,800,000
Room Type：Office
Listing ID：441919
Year Built:-
Approx SqFt：90548 Sq.ft
Apartment：- Beds | - Baths | 11 Parking |
Address：3322 Memorial Parkway SW，,
Huntsville, AL 35801
Description
Century Office Center
Multi-tenant, seven Building office park consists of two one-story office buildings, three two-story office buildings, and two three-story office buildings, with a total building area of 106,317 SF, and total rentable SF of 90,548. with high visibility and 661 feet of frontage along Memorial Parkway, Huntsville’s primary commercial corridor.
-Sixty percent of suites have renovated interiors that feature upgraded drywall, trim, and flooring. As vacant spaces are move-in ready, no significant capital expenditures are needed.
-With a parking ratio of 3.54 spaces per 1,000 SF of rentable space, the buildings can suit a variety of different uses.
-The subject’s location, within two miles of three hospitals, appeals to medical professionals.
-Substantial upside potential to increase NOI by more than $150,000 through increased occupancy.
-Attractive in-place cash on cash of 9.09% can be increased to 15.5% by increasing occupancy to 90%.
-Possible eventual exit strategy of tear-down and redevelopment.
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