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    1971 Government St Mobile, AL 36606

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    20,365 SF retail building in Mobile, Alabama.

    Building Details

    Year built
    1992

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    Listing Contact
    Scott De Young
    Source: Farislee

    Listing Agent: Scott De Young

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

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    Property Insight Report

    Overview

    Retail Building Anchored by CSL

    This 20,365 SF retail building is anchored by CSL Plasma and located in Mobile, Alabama. The property benefits from its central, high-traffic location. CSL Plasma, a subsidiary of CSL with annual revenues exceeding $14.8 billion as of 2024, is a major collector of human plasma with over 350 locations across the U.S. and Europe. CSL Plasma signed a 15-year lease commencing in 2019, with the current term running through December 2034, and includes two 5-year renewal options. The lease features 10% rental increases every five years. Structured as a Triple Net (NNN) lease, CSL Plasma is responsible for property taxes, liability insurance, and common area maintenance. The asset offers tax advantages through enhanced property depreciation and cost segregation analysis. The property is strategically located at 1971 Government Street, adjacent to the University of South Alabama, which has over 14,000 students and 5,500 employees supporting two hospitals and a cancer research center. The location is central to the Mobile MSA, serving Southwest Alabama and Southeast Mississippi, with over 112,000 residents and over 48,000 households within a 5-mile radius. Mobile is the fourth-largest municipality in Alabama and a key logistics hub. The multi-tenant retail asset delivers additional flexibility and long-term utility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ATM Atm Derek J. Colston, ... Pharmacy Judith E. Carstarphen, ... Pharmacy CSL Plasma Medical Clinic Teague Brothers Carpet Cleaning Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    Coinstar Kiosk - Bitcoin ATM, Korbets Square, Westwood Square, 2030 Plaza, Glen Air

    Location Insight

    • Map
    • Local Demand
    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.0867404
    Latitude
    30.6755862

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    FAQs

    What type of property is this?
    Shopping center - 20,365 SF retail building in Mobile, Alabama.
    Where is this shopping center located?
    The property is located at 1971 Government St Mobile, AL.
    What are key features of this property?
    This property features: - Anchored by CSL Plasma, a wholly-owned subsidiary of CSL, a global biotechnology leader with $14.8B in annual revenue, providing a high-credit, investment-grade tenant.; - Long-term lease with CSL Plasma extending through December 2034, plus two (2) five-year renewal options, offering up to 19 years of potential lease term.; - Triple Net (NNN) lease structure with CSL Plasma, minimizing landlord responsibilities and ideal for passive investors or 1031 exchanges.
    (949) 933-7958
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    1971 Government St Mobile, AL 36606
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    Mobile, AL 36606
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1971 Government St Mobile, AL 36606
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    Listing Contact
    Scott De Young
    Real Estate License ID: 01889050
    (949) 933-7958
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