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    61 St Joseph St Mobile, AL 36602

    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $18 SF/Yr ($3,000 /Mo)

    Historic building, 2,000 sq ft, prime location.

    Lot size:
    2,000 SF

    Description

    Added:
    Mar 18, 2025
    Days on Market:
    296
    This exceptional 2,000 square foot executive suite/coworking space, located on the 5th floor (Suite 500) of the historic Waterman-Smith Building, offers a prestigious address in the heart of downtown Mobile, Alabama. The Waterman-Smith Building, a 1947 landmark, boasts 16 floors with stunning views of Bienville Square, the downtown area, and the Mobile River. The building features a grand, marble-covered lobby with recently updated elevators and entrances on both St. Joseph and St. Michael Streets. The ground floor is occupied by Wells Fargo, showcasing impressive Art Deco architecture and murals. This suite provides a wide-open floor plan with one private, walled-off office and expansive windows along the south side, offering captivating views of the square/park. The building's new owner has undertaken significant renovations, including new interior and exterior lighting and modernized amenities. A significant benefit is the inclusion of free parking for tenants (one space per 1,000 square feet, with additional parking available), a rare amenity in downtown Mobile. Currently, below-market lease rates are being offered to attract tenants. This full-service lease, available for a 3-4 year term, presents a unique opportunity for businesses seeking a prime downtown location with exceptional features and amenities. The lease rate is $18 per square foot annually.

    Property Features for 61 St Joseph St

    General Information

    Property type
    Coworking space
    Lease Type
    Full Service
    RSF (Rentable sq. ft)
    2,000 SF
    USF (Usable sq. ft)
    2,000 SF
    Class
    A
    Elevators
    Yes
    Total Rate
    3000
    Lease Term
    3-4 Years

    Building Details

    Buildings
    1
    Stories
    14

    HighLights

    • 2,000 sq ft of executive suites/coworking space in a historic downtown Mobile landmark building.
    • Enjoy stunning views of Bienville Square, downtown, and the Mobile River from the 5th floor.
    • Free parking (1 space per 1,000 sq ft) and below‑market rates currently offered.
    Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    State
    Alabama
    Longitude
    -88.119376
    Latitude
    30.687383

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    FAQs

    What type of property is this?
    Coworking space - Historic building, 2,000 sq ft, prime location.
    Where is this coworking space located?
    The property is located at 61 St Joseph St Mobile, AL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 2,000 sq ft of executive suites/coworking space in a historic downtown Mobile landmark building.; Enjoy stunning views of Bienville Square, downtown, and the Mobile River from the 5th floor.; Free parking (1 space per 1,000 sq ft) and below-market rates currently offered.
    (251) 438-4312
    Request Owner's contact information
    61 St Joseph St Mobile, AL 36602
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    61 St Joseph St Mobile, AL 36602
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