Description

108 Walter Davis Drive is a 47,100-square-foot industrial investment located in Homewood, Alabama, within the Birmingham metropolitan area. The property is fully occupied by SIGMA Corporation under an absolute triple-net lease, providing ownership with a passive income structure and no routine landlord operating responsibility. The lease includes 2% annual rent increases and four five-year extension options.

The asset consists of three buildings on three separate parcels totaling approximately 3.02 acres. The improvements include about 43,600 square feet of warehouse space and 3,500 square feet of office space. Industrial features include a 24-foot clear height, four dock-high doors, three drive-in doors, and 16 surface parking spaces. The buildings were developed in 1979 and renovated in 2000, and the site is zoned I-3 Light Industrial.

The property is approximately 1.4 miles from Interstate 65, where traffic counts exceed 124,000 vehicles per day. Its Homewood location provides access to the broader Birmingham industrial and employment base, while Birmingham-Shuttlesworth International Airport is approximately 10.4 miles away. The site also lies near an active rail corridor and established retail and commercial services along I-65.

The offering price is $2,300,000, or approximately $48.83 per square foot. Current marketed net operating income is $132,490, producing a 5.76% capitalization rate at the asking price. The combination of full occupancy, contractual rent growth, a corporate tenant, functional industrial improvements, and direct interstate access makes 108 Walter Davis Drive a stabilized net-leased investment with long-term income potential.