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    500 St Michael St Mobile, AL 36602

    Sponsored
    For Sale
    Contact for pricing

    Net Lease, Credit Tenant, High NOI

    Property size:
    8,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a single-story, 8,500-square-foot Class A creative office building in Downtown Mobile, Alabama. Located at 500 St. Michael Street, within the historic De Tonti Square district, this property is fully occupied by a credit-rated national tenant, Automation + Controls Engineering (ACE), a subsidiary of a company generating nearly $150 million in annual sales. The building benefits from a triple-net (NNN) lease structure, offering minimal landlord responsibilities. ACE's lease includes annual rent bumps, ensuring consistent income growth. With five years remaining on the lease term, this investment provides a strong return with predictable cash flow. The property has recently undergone renovations, enhancing its appeal and functionality. De Tonti Square is a vibrant nine-block district encompassing approximately 28 acres, featuring a mix of office buildings, restaurants, shops, and galleries. This prime location offers excellent visibility and access to a diverse community. The property's strong tenant, favorable lease terms, and desirable location make it an attractive investment opportunity. The Net Operating Income (NOI) is $85,075.

    Property Features for 500 St Michael St

    General Information

    Property type
    Office space
    Square Feet
    8,500 SF
    Class
    A

    Building Details

    Stories
    1
    Units
    1

    HighLights

    • 8,500 SF Class A creative office building in Downtown Mobile's De Tonti Square.
    • Fully occupied by credit‑rated national tenant (ACE) with a NNN lease and annual rent increases.
    • Five‑year lease remaining, generating $85,075 NOI.
    • Recently renovated building in a vibrant, nine‑block historic district with diverse amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Mobile
    County
    Mobile
    State
    Alabama
    Longitude
    -88.04872717
    Latitude
    30.69134527

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    FAQs

    What type of property is this?
    Office space - Net Lease, Credit Tenant, High NOI
    Where is this office space located?
    The property is located at 500 St Michael St Mobile, AL.
    What are key features of this property?
    This property features: 8,500 SF Class A creative office building in Downtown Mobile's De Tonti Square.; Fully occupied by credit-rated national tenant (ACE) with a NNN lease and annual rent increases.; Five-year lease remaining, generating $85,075 NOI.
    Request Owner's contact information
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    Mobile, AL 36602
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    Realmo Value Estimation

    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.

    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.

    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
    500 St Michael St Mobile, AL 36602
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