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    Turn-Key Restaurant Space For Sale Title is generated by Realmo AI

    69 St Michael St, Mobile, AL

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    Restaurant/bar space with FF&E and operating kitchen, available May 2024.

    Type:RETAIL
    Property size:
    1,500 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $266/SF
    Added:
    Apr 25, 2024
    Days on Market:
    781
    Last Refresh:
    May 20 at 9:25 pm

    Property Features for 69 St Michael St

    General Information

    Standard status
    Active
    Size
    1,500 SF
    Lot size
    0.03 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Josh Hall
    Josh Hall

    Listing agent Josh Hall

    Listing office CRE Mobile

    Listing date Apr 25, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CRE Mobile

    HighLights

    • Turn‑key restaurant/bar space, including FF&E and operating kitchen
    • Excellent walkability to over 500 businesses with more than 6,500 employees
    • Located on St. Michael Street, near the Battle House Hotel and RSA Building
    • Available May 2024
    • 1,500 SF restaurant
    • SALE PRICE: $399,000

    Overview

    This 1,500 square foot restaurant is located on St. Michael Street, near the Battle House Hotel and the RSA Building. The location offers excellent walkability to over 500 businesses with more than 6,500 employees. This is a turn-key restaurant and bar space, including FF&E and an operating kitchen. It will be available in May 2024. Taxes are $1,800 and insurance is $1,500.

    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 (±1% cap)
    NOI $22,680 @ 7.0% cap · market cap 5.68%
    Second Best
    Retail
    $283.6K
    $248.2K – $330.9K (±1% cap)
    NOI $19,854 @ 7.0% cap · market cap 4.98%
    Theoretical Best
    Office A
    $381.3K
    $333.6K – $444.8K (±1% cap)
    NOI $26,688 @ 7.0% cap · market cap 6.69%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Map

    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.1047
    Latitude
    30.681

    FAQs

    What type of property is this?
    Turn key restaurant - Restaurant/bar space with FF&E and operating kitchen, available May 2024.
    Where is this turn key 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.
    What are key features of this property?
    This property features: Turn‑key restaurant/bar space, including FF&E and operating kitchen; Excellent walkability to over 500 businesses with more than 6,500 employees; Located on St. Michael Street, near the Battle House Hotel and RSA Building
    (251) 438-4312 Call to check price and availability
    More about this property
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