Turnkey Restaurant in Downtown
69 St Michael St Mobile, AL 36602
69 St Michael St, Mobile, AL, 36602
$399,000
For Sale
$399,000
1,500 SF Turn-key Restaurant For Sale in Downtown Mobile
Property Size1,500 SF
Price / SF$266
Days on Market526
Property Features for 69 St Michael St
General Information
- Standard status
- Active
- Property type
- Restaurants, Other retail properties, Individual retail properties, Retail properties & Spaces
- Size
- 1,500 SF
- Net Rentable
- 1,298 SF
- Elevators
- N/A
Building Details
- Buildings
- 1
- Stories
- 1
Listing Office
(850) 564-0120
Listed by
Paul
(850) 564-0120
Added: Feb 6, 2025 Checked: Mar 16 at 9:06 am
Investment Insights
Based on property information with market context.
This 1,500 square-foot restaurant is located on St. Michael Street in downtown Mobile, Alabama. Its location provides access to a business district near the Battle House Hotel and the RSA Building. The property benefits from walkability, placing it within reach of over 500 businesses employing more than 6,500 individuals. The space is equipped as a turnkey restaurant and bar, including all furniture, fixtures, and equipment (FF&E), and a fully operational kitchen. The property is available for immediate occupancy in May 2024. The net usable space is 1298 square feet. The property is suitable for restaurant and bar use.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.5k | $21.00 |
| − Vacancy | −$1.3k | −$0.84 |
| EGI | $30.2k | $20.16 |
| − OpEx | −$7.6k | −$5.04 |
| NOI | $22.7k | $15.12 |
1,500 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$324.0K
$283.5K – $378.0K
NOI $22,680 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$283.6K
$248.2K – $330.9K
NOI $19,854 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail properties & Spaces
Similar For Sale Nearby
Similar Off Market Nearby
- Don's Catering Services — 273 n broad st, mobile, al 36603
- C C's Classic Catering — 511 St Anthony St, Mobile, AL 36603
FAQs
What type of property is this?
Restaurant - 1,500 SF Turn-key Restaurant For Sale in Downtown Mobile
Where is this restaurant located?
The property is located at 69 St Michael St Mobile, AL.
What is the asking price?
The asking price for this property is $399,000.
