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    61 St Joseph St Mobile, AL 36602

    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $18 SF/Yr ($675 /Mo)

    Historic building, 450 sq ft, prime location.

    Lot size:
    450 SF

    Description

    Added:
    Mar 18, 2025
    Days on Market:
    295
    This exceptional 450-square-foot executive suite, located on the 12th floor (Suite 1250) of the prestigious Waterman-Smith Building, presents a unique opportunity in downtown Mobile. The Waterman-Smith Building, a historic landmark constructed in 1947 by the Waterman Steamship Company, boasts 16 floors offering breathtaking views of Bienville Square, the city's vibrant downtown core, and the Mobile River. The building's ground floor is occupied by Wells Fargo, showcasing impressive Art Deco architecture and murals. Access is convenient via St. Joseph and St. Michael Streets, with recently updated elevators in a marble-clad lobby. Significant renovations are underway, including new interior and exterior lighting, and modernized amenities. A rare advantage in downtown Mobile is the inclusion of free parking for tenants (one space per 1,000 square feet, with additional parking available). Currently, below-market lease rates are being offered to attract tenants. This full-service lease, with a term of 3-4 years, includes a yearly rate of $18 per square foot. The suite itself features reception and one private office, ideal for a small business or professional seeking a prestigious address in the heart of Mobile's business district. This is an unparalleled chance to secure a highly desirable space in a landmark building undergoing revitalization.

    Property Features for 61 St Joseph St

    General Information

    Property type
    Coworking space
    Lease Type
    Full Service
    RSF (Rentable sq. ft)
    450 SF
    USF (Usable sq. ft)
    450 SF
    Class
    A
    Total Parking Spaces
    1
    Elevators
    Yes
    Total Rate
    675
    Lease Term
    3-4 Years

    Building Details

    Buildings
    1
    Stories
    14

    HighLights

    • 450 sq ft executive suite in the historic Waterman‑Smith Building, downtown Mobile.
    • Enjoy spectacular city and river views from the 12th floor.
    • Includes free parking and below‑market rent in a newly renovated building.
    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, 450 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: 450 sq ft executive suite in the historic Waterman-Smith Building, downtown Mobile.; Enjoy spectacular city and river views from the 12th floor.; Includes free parking and below-market rent in a newly renovated building.
    (251) 438-4312
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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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