Modern Academy of Cosmetology 505 N Seminary St 8,600 SF Office Building Florence, AL 35630 $1,910,246 CAD ($222.12 CAD/SF)

We are pleased to exclusively offer for sale this single-tenant, net-leased office building located at 505 N Seminary St in Florence, Alabama. The property is 100% leased
to Modern Academy of Cosmetology, a locally owned private school founded in 2017 offering a full range of cosmetology specialties. In 2024, the building underwent a
comprehensive $715,000 demolition, renovation, and custom buildout. Capital improvements include a new roof, insulation, HVAC units, tankless water heaters, gas
piping, upgraded plumbing (including new sewer line to the parking lot and water supply lines), new cabinets, updated electrical panels and wiring, new flooring, and
fresh interior and exterior paint.
The building consists of approximately 8,600 net rentable square feet and is situated on a fee simple parcel. The current lease commenced on October 15, 2024, and
carries a 10-year primary term with one 5-year renewal option. The lease features 10% rental increases every five years. The landlord is responsible for taxes, insurance,
roof, and structure, while the tenant covers all utilities, routine building maintenance, and HVAC repairs.
Florence is the largest city in the metropolitan area known as “The Shoals,” which also includes Muscle Shoals, Sheffield, and Tuscumbia, spanning Colbert County and
Lauderdale County. Florence serves as the primary economic hub of northwestern Alabama. As of 2026, Florence’s population is approximately 42,716, with the broader
MSA totaling approximately 156,000 residents — reflecting growth of more than 5% since the 2020 Census. The region continues to benefit from its proximity to
Huntsville (approximately 60 miles east) and Nashville (approximately 120 miles north), two of the fastest-growing cities in the United States.
This investment opportunity offers stable, long-term cash flow backed by a committed tenant that has made significant capital investments into the property, aligning
tenant and landlord interests for long-term success.