500 St Michael St Mobile, AL 36602
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Net Lease, Credit Tenant, High NOI
Property size:
8,500 SFProperty 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
Listing Agency: Jones Aur Listing Agent: Reid Lanigan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 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.
