Great Investment Directly on Hwy 59 SALE or LEASE

Office for Sale
Sale Pending
Catylist Listing ID: 30024375
Property Subtypes: Mixed Use, Office Building
Status: Pending
Building Size (RSF): 2,616 SF
Gross Building Area: See Agent
Sale Price: $229,000
Unit Price: $87.54 PSF
Ceiling: 8 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: Insurance Center
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 6/7/2017

Overview / Comments

Great investment with producing rental income. Directly on busy Hwy 59, nestled into old oaks. Older building with a new addition In 08. Can operate as 2 separate businesses with separate entrances. Two different business can occupy. 8 offices, 2 b/r, break room, kitchen, nice lobby, tons of storage. Current tenant paying 1600 a month on a triple net lease with a 30 day lease renewable month to month lease. Also available for lease in 30 days.

Current Tenants

Tenant Business Name Insurance Center
Contact Title business owner
Industry Type Finance and Insurance
Is Renting? Yes
SF of Space Occupied 2,616 SF

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Baldwin County Revenue Commission
Tax ID/APN: 117506
Property Located Between: I-10 & Hwy 104
Property Visibility: Excellent
Highway Access: On Hwy 59
Airports: Mobile, AL and Pensacola, FL
Site Description: Level corner lot
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,616 SF
Year Built: 1940
Year Renovated: 2005
Roof Type: Gable
Construction/Siding: Vinyl Siding, Wood Frame
Exterior Description: Charming cottage style. Large Porch.
Parking Type: Surface
Parking Description: On site in front of building.
Total Parking Spaces: 10
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Internet Access: Cable, DSL, Satellite
Interior Description: Divided office space - 8 total - 2 B/R, breakroom, kitchen, plenty of storage.
Zoning Description: Commercial - offices - general - 6300
Lot Frontage: 75'
Lot Depth: 141'
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None
Land Ownership: Deeded
Legal Description: Attached

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,663 20,677
Median Age: 34.32 36.37
Households: 3,984 7,519


Photograph of Listing Agent

Connie Glassford

Roberts Brothers, Inc. Gulf Coast CMLS Member


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