Magnolia Place Office Condo

Office for Sale
Catylist Listing ID: 30741768
Property Subtypes: Business Park, Office Building
Condo? Yes
Building Size (RSF): 1,050 SF
Gross Building Area: 4,200 SF
Gross Land Area: 0.70 Acres
Sale Price: $89,900
Property Use Type: Investment, Vacant/Owner-User
Building Name: Magnolia Park Office Condo
Class of Space: Class B
Usable Size (USF): 1,050 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/23/2021

Overview / Comments

Creole style professional office condo available for sale on University Boulevard near Cottage Hill Road. This fully leased first-floor unit is in great shape. Unit B-2 features a flexible layout of three offices, two of which have built-ins. There is also a reception area with break counter, a large storage room, and one restroom with a shower and one without.

The building exterior highlights glass wood entrance doors, wood baseboards, two stage wainscoting throughout, drive up parking, and a marquis for each unit. There are also wrought iron details and exterior archways, which give this property a New Orleans feel at an affordable price.

Owner handles interior repairs and maintenance, and the association takes care of the exterior upkeep. Each unit is separately metered. Please contact Jill Meeks to schedule a showing.

Attachments & Media

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $902 (Annual)
Tax Value Land $50,000
Tax Value Improvements $61,900
Assessed Value - Total($) $114,900 (Annual)
Potential Rental Income $13,200 (Annual)
Gross Operating Income $13,200 (Annual)
Net Operating Income $9,598 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Mobile
County: Mobile
Taxing Authority: Mobile County Revenue Commission
Tax ID/APN: R022808341002015.006
Is Condo?: Yes
Zoning: B1
Property Located Between: Airport and Cottage Hill Rd
Property Visibility: Good
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 2,100 SF
Year Built: 1984
Construction/Siding: Brick
Exterior Description: Creole Style
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: B1
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Unit B-2 Magnolia Park Office Condo a Condo ACC to that certain declaration of condo together with exhibits thereto including bylaws of Magnolia Park Office Condo Unit Owners

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,290 84,293 182,808
Median Age: 37.46 36.13 36.92
Households: 6,300 36,157 74,216

Contact

Photograph of Listing Agent

Jill Meeks

Stirling Properties Mobile Mobile, AL 36602
Gulf Coast CMLS Member
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