Downtown Mobile Office
For Sale
Contact for pricing
549 CONGRESS ST, Mobile, AL 36603
Fully furnished, Class-A office space in downtown Mobile, AL.
Property Size1,024 SF
Price / SF$239.26
Days on Market90
Property Features for 549 CONGRESS ST
General Information
Standard status
Active
Size
1,024 SF
Class
A
Property subtype
Office
Zoning
T-4
Building Details
Year Built
1965
Year Renovated
2024
Buildings
1
Stories
1
Listing Agency:
Milling Commercial Realty Inc
Listed By:
Andrew McDonald Jr. · License #000156510
Source:
Crexi
Added: May 22
Changed: Aug 8
Last Checked: Aug 8 at 7:04AM
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 Milling Commercial Realty Inc
Investment Insights
Based on property information with market context.
Available for sale is a ±1,024 square foot, fully furnished, Class-A quality office space located at 549 Congress Street in Downtown Mobile, AL. This modern, well-appointed suite features private offices, conference room(s), and a dedicated break room/kitchen area. The property is thoughtfully designed to support a professional and efficient work environment. Maintained in excellent condition, the space offers a true turnkey opportunity for a wide range of office users. Convenient free street parking and a prime downtown location further enhance this exceptional offering.
Key Highlights
- Fully furnished, Class‑A office space (±1,024 SF) - turnkey opportunity.
- Prime downtown Mobile location at 549 Congress Street.
- Features private offices, conference room(s), and a dedicated break room/kitchen.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,236
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,720
$284.7K
Cap Rate 7%
$203,371
$203.4K
Cap Rate 9%
$158,178
$158.2K
Market Conditions
NOI Build-Up for 1,024 SF
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.
Gross rent
$22.7K $22.20/SF
− Vacancy
−$3.8K −$3.66/SF
EGI
$19.0K $18.54/SF
− OpEx
−$4.7K −$4.63/SF
NOI
$14.2K $13.90/SF
Area
Mobile, AL
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,720
Cap Rate 7%
$203,371
Cap Rate 9%
$158,178
Alternative Uses
Best Use
Office B
$203.4K
$178.0K – $237.3K
NOI $14,236 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.3K
$227.7K – $303.7K
NOI $18,219 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 36603, AL
8,184
Population
3,880
Households
2.1
Avg Household Size
38
Median Age
12%
College-Educated
79%
High-School Grad
3.8 sq mi
ZIP Area
2,154
Density / Sq Mi
$27,083
Median Household Income
$24,688
Median Earnings
$704
Median Rent
$107,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully furnished, Class-A office space in downtown Mobile, AL.
Where is this office units located?
The property is located at 549 CONGRESS ST Mobile, AL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Fully furnished, Class‑A office space (±1,024 SF) - **turnkey opportunity**.; Prime downtown Mobile location at 549 Congress Street.; Features **private offices, conference room(s), and a dedicated break room/kitchen.**
