INVESTMENT PROPERTY - MOBILE, AL

Retail-Commercial for Sale
Catylist Listing ID: 30375405
Property Subtypes: Free-Standing Building
Building Size (RSF): 3,471 SF
Gross Land Area: 37,149 SF
Sale Price: $733,889
Unit Price: $211.43 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: TitleMax Building
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 12/13/2019

Overview / Comments

Investment property located at the intersection of Moffett Road and Shelton Beach Road in Mobile, AL. The property is fully leased, and is offered at a CAP Rate of 9%. The building is approximately 3,471 square feet, positioned on a site of approximately .85 acres, with 42 parking spaces. Prominent pylon signage exists.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,143 (Annual)
Net Operating Income $65,870 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name TitleMax
Is Renting? Yes
Current Rent $65,870 PSF (Annual)
Lease Expiration 7/2021
Escalations 3% increase 8/1/20 to $67,846/yr

Additional Details

Nearest MSA: Mobile
County: Mobile
Taxing Authority: Mobile County
Tax ID/APN: 28-01-02-3-000-078.03
Zoning: B-2
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Moffett Road
Traffic/Vehicle Count: 37,120
Highway Access: Direct access from Moffett Road, approximately 2 miles West of I-65
Airports: Mobile Regional Airport
Site Description: The corner site, consisting of approximately .85 acres, has access from Moffett Road, Shelton Beach Road, and the adjacent shopping center.
Area Description: Commercial developed area
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,471 SF
Property Condition: Good
Year Built: 1983
Year Renovated: 1994
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 42
Parking Ratio: 12 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking area with 42 spaces
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Improved as office / retail / commercial space
Zoning Description: B-2 / City of Mobile
Lot Frontage: 142
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,907 58,132 174,025
Median Age: 35.07 35.29 35.84
Households: 1,549 22,868 70,396

Contact

Photograph of Listing Agent

Jeff Barnes

Stirling Properties Mobile Mobile, AL
Gulf Coast CMLS Member
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