1550 Broad St Mobile, AL 36605-1816

Property Details for 1550 Broad St

Year built

1985

Lot size

0.98 lot acres

Property size

8,400 SF

Property type

Retail properties

APN

29 11 36 0 002 095.XXX

APU

2911360002095XXX

Description

This exceptional investment opportunity presents a 10,288 square foot warehouse located at 1550 S Broad St, Mobile, AL 36605. The property, built in 1985 and situated on a 0.98-acre lot, is currently leased to the County of Mobile Sheriff's Department under an absolute NNN lease with a remaining term of four years (expiring August 30, 2028), followed by a five-year option. The tenant, boasting an AA credit rating, utilizes the space for tactical, canine, and intelligence divisions. Significant recent renovations, totaling approximately $400,000, include a new roof (with a 10-year transferable material and weather tightness warranty), new office space, upgraded mechanical systems, and new fencing and gates. The lease features attractive 1.5% annual rent increases and a 10% increase at the option renewal. The property generates a strong net operating income (NOI) of $88,572, resulting in a 6.75% cap rate. The strategic location provides excellent access to I-10, a major thoroughfare with over 75,490 vehicles daily, and serves a 5-mile population of 83,054 residents. This is a rare opportunity to acquire a secure, high-yield investment with a credit-worthy tenant and significant upside potential. The property is zoned commercial and consists of a single, one-story building.

Location Insight

City

Mobile

County

Mobile

State

Alabama

Longitude

-88.0615

Latitude

30.6556

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments