12865 Saeger Rd Grand Bay, AL 36541

Located in Grand Bay, Alabama, this 57,282 square foot building presents a versatile multi-use potential. Currently configured as a church with three additional rooms used as apartments, this property offers significant versatility. Situated on a 1.08-acre lot on a main road, the building boasts a strong existing income stream and has recently undergone renovations. Features include two full bathrooms with showers, a large gathering area, a kitchen with appliances, a dining area, an office with a restroom, exterior storage rooms, and a covered rear patio. The building is handicap accessible. The four units currently include a church and three apartments, but the property has no restrictions on its use, allowing for conversion into shops, retail space, a school, or other uses. The exterior and interior are undergoing refreshing, resulting in occasional apartment vacancies. The current cap rate exceeds 10%. The potential for additional apartment conversions and the adaptation of storage space into a tenant laundry facility further enhance the investment prospects. This property offers a compelling blend of existing income and significant future development potential in a growing community.