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220 Rice Mine Road NE, Tuscaloosa, AL, 35406

220 Rice Mine Road NE
$2,867,635

Key Information

Cap Rate
7.25%
$ per SF
$426
Tot. SF
6,727
Year Built
2018
Type
Healthcare
NOI
$207,903

Highlights

Tenant & Lease
Smile Doctors — With roughly 600 locations, Smile Doctors is the largest orthodontic operator across the country. They grow their
network of practices by acquiring existing and established practices and opening in new locations with high patient demand. The
practice at this location has been operating and serving patients in the greater Tuscaloosa area for nearly a decade.
Early Lease Extension – The tenant exercised their extension option early, providing confidence in the success of their practice
and demonstrating a long-term commitment to the Tuscaloosa market.
● 2018 Construction Dental Office – The property was specifically built for Smile Doctors in 2018 and offers investors the
opportunity to acquire a Class A medical office with a long-term lease to a national tenant.
● $187 Billion Industry — Dentistry is one of the largest industries in healthcare and grows by an average of 5.3% annually.

Property & Location
● University of Alabama – The property sits just just a few minutes away from the University of Alabama. This gives provides a
massive built-in population of over 35,000 students and is a huge driver of local economic activity. School proximity provides
recurring patient base for dental and orthodontic practices in the area.
● Over 50,000 Cars Per Day – The property sits on Rice Mine Rd, which sees over 50,000 cars per day outside of the property and
is one of Tuscaloosa’s largest thoroughfares for retail and healthcare practices.
● Soaring Population Growth – The population within a 3-mile radius has grown by nearly 20% in the past 6 years, and is projected
to continue expanding.
● Specialized Use & Tenant Investment in Location — It is costly for dental and orthodontic practices to relocate due to having
one of the highest build-out costs across all medical specialties. Practices also tend to stay put due to the difficulty in retaining the
same patients after moving.

Photos

Location

Agents

Broker of Record

Hutt Cooke

License # 000168807-0, 000110253 - 0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203