PRICE REDUCED! 7,285 Professional Office - Midtown

Office for Sale
Catylist Listing ID: 30269759
Property Subtypes: Office Building
Building Size (RSF): 7,285 SF
Gross Building Area: See Agent
Gross Land Area: 0.66 Acres
Sale Price: $539,000
Unit Price: $73.99 PSF
Property Use Type: Investment
Building Name: 7,285sf Professional Office - Midtown
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 9.2%
Last Updated: 5/14/2020

Overview / Comments

3213 Executive Park Circle was recently leased to a investment advisory business and the five-year lease term started 7/1/19 and expires on 6/30/24. The tenant has a one-time right to terminate the lease after the 36th month. If that termination right is not exercised at that time, then it becomes void. The lease features five one-year renewal options with annual escalations. Please contact the listing broker for the investment package.

The 7,285sf freestanding office building centrally located in the Mobile (midtown) market. The building features (29) private offices, (3) conference rooms, (3) storage closets, (2) supply rooms, (2) computer rooms, (5) rest rooms, kitchen/break room, lobby/reception area and parking for 35 vehicles. The property is convenient to all parts of the city via U.S. Highway 90, Airport Blvd., Cottage Hill Road and I-65. Proximate to retail, financial services, food/beverage service, professional office and residential neighborhoods. Zoned B-2.

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: 2909510004200.003
Zoning: B-2
Property Located Between: Airport Blvd. and U.S. Highway 90
Property Visibility: Good
Highway Access: Executive Park Circle to Cottage Hill Road to Airport Blvd. to I-65
Airports: Mobile Aeroplex at Brookley 6.9 miles - Mobile Regional Airport 8.0 miles
Site Description: The property is located in a professional office park towards the end of a cul-da-sac. Improvements are situated on a 0.66-acre parcel with surface parking for 35 vehicles. The property is landscaped.
Area Description: The property is situated among many professional office buildings that are proximate to retail/shopping malls,financial serves, restaurants and residential neighborhoods. Nearby thoroughfares provide convenient access to all parts of the city.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,285 SF
Year Built: 1993
Year Renovated: 1994
Construction/Siding: Brick
Exterior Description: Single story brick building with shingled roof.
Parking Type: Surface
Parking Description: Surface parking for 35 vehicles. Limited on-street parking available.
Total Parking Spaces: 35
Interior Description: The building features (29) private offices, (3) conference rooms, (3) storage closets, (2) supply rooms, (2) computer rooms, (5) rest rooms, kitchen/break room, lobby/reception area. Hardwood floors, drop ceiling.
Zoning Description: B-2
Lot Frontage: 123.5'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,790 85,972 186,308
Median Age: 34.21 36.04 36.75
Households: 3,872 35,623 76,320


Photograph of Listing Agent

David Dexter

NAI Mobile Gulf Coast CMLS Member
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