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Renovated Mixed-Use Downtown Property

357 Congress Street Mobile, AL 36603

357 Congress Street, Mobile, AL, 36603
$399,900
For Sale
Claim this Listing
$399,900

Historic 1875 building, renovated for mixed-use or office space.

Property Size1,335 SF
Lot Size0.14 Acres
Price / SF$299.55
AddedMay 11, 2024
Days on Market796
Last RefreshJul 13 at 6:10 am

Property Features for 357 Congress Street

General Information

Standard status
Active
Size
1,335 SF
Lot size
0.14 Acres
Property subtype
Commercial/Industrial

Building Details

Year Built
1875

Listing office Roberts Realty Group Inc

Listing date May 11, 2024

Source Exitrealty

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 Roberts Realty Group Inc


Investment Insights

Based on property information with market context.

Located in downtown, this renovated property, originally built around 1875, received an award for its adaptive reuse and renovation. Zoned T4 for mixed-use, the 1,335 square-foot building is currently used as an AirBNB, featuring two bedrooms, two kitchenette areas, two bathrooms, a living room with a sleeper sofa, and a laundry room. The layout is also suitable for a professional office space. One side features a separate entrance, a large room, closet, kitchenette, and bathroom. The other side includes a foyer, front room suitable as a reception area, a back private room with a closet, kitchenette access, and bathroom. Both sides access the laundry room off the back deck. The property includes parking space for five cars in the back, with additional street parking available. Renovations include a new roof, double-pane windows, tankless water heater, HVAC system, electrical, and plumbing. The exterior retains Victorian historical qualities, original fireplaces and mantles, hardwood floors, and moldings. The property is located close to restaurants, nightlife, art studios, and Mardi Gras festivities.

Key Highlights

  • Award‑winning, historically accurate renovation with modern amenities (built 1875, renovated for 2024).
  • Zoned T4 for mixed‑use, ideal for Airbnb or professional office space.
  • Two separate units, each with a kitchenette and luxury bathroom.

Local Financial Insights For Office B

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 $29.6k $22.20
− Vacancy −$4.9k −$3.66
EGI $24.7k $18.54
− OpEx −$6.2k −$4.63
NOI $18.6k $13.90
1,335 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%

Alternative Uses

Best Use
Office B
$265.1K
$232.0K – $309.3K (±1% cap)
NOI $18,560 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$158.0K
$138.3K – $184.4K (±1% cap)
NOI $11,062 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$339.3K
$296.9K – $395.9K (±1% cap)
NOI $23,752 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Office Units

Suggested Use

(Bike/Boat/Book/etc) Store Garden Center (Bike/Boat/Book/etc) Store Dental Office Skin Care Clinic (Bike/Boat/Book/etc) Store Veterinary Clinic (Bike/Boat/Book/etc) Store HVAC Service Pet Grooming Service

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

FAQs

What type of property is this?
Office units - Historic 1875 building, renovated for mixed-use or office space.
Where is this office units located?
The property is located at 357 Congress Street Mobile, AL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Award‑winning, historically accurate renovation with modern amenities (built 1875, renovated for 2024).; Zoned T4 for mixed‑use, ideal for Airbnb or professional office space.; Two separate units, each with a kitchenette and luxury bathroom.
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