69 St Michael St, Mobile, AL
Restaurant/bar space with FF&E and operating kitchen, available May 2024.
- 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
Listing agent Josh Hall (251) 438-4312
Listing office CRE Mobile (251) 438-4312
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
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 |
Alternative Uses
Current Use by Public Records
Map
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.1047
- Latitude
- 30.681