Corner Lot Office & Retail
7 S Florida Street Mobile, AL 36607
7 S Florida Street, Mobile, AL, 36607
$899,900
For Sale
$899,900
Renovated building with 10' ceilings, multiple treatment/office rooms, and 45 parking spaces on a corner intersection.
Property Size5,600 SF
Price / SF$160.70
Days on Market98
Property Features for 7 S Florida Street
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1953
Listing agency
Roberts Brothers, Inc Malbis
(251) 454-5830
Listed by
Bill Hinton · License #31087
(251) 454-5830
Source
Xome
Added: Apr 16 Updated: Jul 20 at 7:59PM Checked: Jul 20 at 7:59PM
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 Brothers, Inc Malbis
Investment Insights
Based on property information with market context.
Renovated 5,500 sq. ft. building on a corner lot intersection of two major streets, currently used as a spa and beauty salon. The interior offers 10' ceilings, 3 powder rooms and 2 full baths, plus 15 rooms and 2 break rooms. All trade fixtures remain, and the floorplan can be reconfigured into offices.
The property is positioned for visibility and easy access at the intersection of two major streets with high traffic counts. Outside, there are 45 parking spaces.
Reported improvements include a roof replacement in 2019 and four HVAC systems installed in 2015 (per owner). The listing also notes a 7% cap rate; buyer to verify all information during due diligence.
Address: 7 S Florida Street, Mobile, AL 36607.
The property is positioned for visibility and easy access at the intersection of two major streets with high traffic counts. Outside, there are 45 parking spaces.
Reported improvements include a roof replacement in 2019 and four HVAC systems installed in 2015 (per owner). The listing also notes a 7% cap rate; buyer to verify all information during due diligence.
Address: 7 S Florida Street, Mobile, AL 36607.
Key Highlights
- Renovated 5,500 SF building on a corner lot at the intersection of 2 major streets with high traffic counts
- 10' ceilings with 15 rooms and 2 break rooms, plus 3 powder rooms and 2 full baths
- Spa/beauty salon use with trade fixtures included; floorplan can be reconfigured into offices
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 | $124.3k | $22.20 |
| − Vacancy | −$20.5k | −$3.66 |
| EGI | $103.8k | $18.54 |
| − OpEx | −$26.0k | −$4.63 |
| NOI | $77.9k | $13.90 |
5,600 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.11M
$973.2K – $1.30M
NOI $77,855 @ 7.0% cap · market cap 8.65%
Second Best
Retail
$1.06M
$926.5K – $1.24M
NOI $74,123 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,633 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Spa & wellness properties
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FAQs
What type of property is this?
Spa & wellness property - Renovated building with 10' ceilings, multiple treatment/office rooms, and 45 parking spaces on a corner intersection.
Where is this spa & wellness property located?
The property is located at 7 S Florida Street Mobile, AL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Renovated 5,500 SF building on a corner lot at the intersection of 2 major streets with high traffic counts; 10' ceilings with 15 rooms and 2 break rooms, plus 3 powder rooms and 2 full baths; Spa/beauty salon use with trade fixtures included; floorplan can be reconfigured into offices
