Institutional Property Advisors Brokers $48.4M Sale Of Retail Property In Birmingham, AL
500 Inverness Corners, Birmingham, Alabama 35242, United States
$48,400,000
$155/SF
Building Size
311,000 SF
Asset Type
Retail
Closing
Aug 2, 2022
About this deal
AI
The retail property located at 500 Inverness Cors in Birmingham, AL has been sold for a total price of $48,400,000. The property spans approximately 311,000 square feet, resulting in a price per square foot of $156.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $48,400,000
- Square Footage: 311,000
- Price per Square Foot: $156
- Address: 500 Inverness Cors, Birmingham, AL
- Market: Birmingham, AL
Zach Taylor of Institutional Property Advisors represented the parties involved in this transaction as the broker.
The retail sale at 500 Inverness Corners, Birmingham, Alabama 35242, United States in Hoover, Alabama sold for $48.4M in 2022. The building is 311,000 square feet, implying about 155 per square foot on the published price. Zachary (Zach) Taylor, Institutional Property Advisors, Marcus & Millichap appear on the sale alongside Institutional Property Advisors, Marcus & Millichap. This page is the Hoover, Alabama file for the 500 Inverness Corners, Birmingham, Alabama 35242, United States retail sold: pricing, party profiles, and other closed retail comps from the same Hoover sit in the Market section below. Filter that Hoover retail set by closing date to see what else sold near 500 Inverness Corners, Birmingham, Alabama 35242, United States around 2022. Published consideration for 500 Inverness Corners, Birmingham, Alabama 35242, United States is $48.4M, dated 2022. Cite this Institutional Property Advisors Brokers $48.4M Sale Of Retail Property In Birmingham, AL sale when underwriting similar retail product around Hoover, Alabama.
Players
Hoover Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93