Turnkey Restaurant in Downtown
For Sale
$399,000
69 St Michael St, Mobile, AL 36602
1,500 SF Turn-key Restaurant For Sale in Downtown Mobile
Property Size1,500 SF
Price / SF$266
Days on Market616
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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
Listed By:
Paul Salter
(850) 564-0120
Added: Feb 6, 2025
Changed: Mar 16
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,680
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,600
$453.6K
Cap Rate 7%
$324,000
$324.0K
Cap Rate 9%
$252,000
$252.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$31.5K $21.00/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$30.2K $20.16/SF
− OpEx
−$7.6K −$5.04/SF
NOI
$22.7K $15.12/SF
Area
Mobile, AL
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,600
Cap Rate 7%
$324,000
Cap Rate 9%
$252,000
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,921
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 36602, AL
910
Population
802
Households
1.1
Avg Household Size
56
Median Age
45%
College-Educated
91%
High-School Grad
3.9 sq mi
ZIP Area
233
Density / Sq Mi
$35,000
Median Household Income
$48,523
Median Earnings
$596
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
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
Frequently Asked Questions
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.
