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Property profile & analytics

740 Museum Dr Mobile, AL 36608

  • Lifestyle centers
  • 42,440 SF
  • 3.37 lot acres
OFF-MARKET
Value Estimation
Location Intelligence

Current Use by Public Records

  • Marr & Friedlander / Attorney
  • Katherine Nobles Spadafora, M.D. / Pediatrician / Doctor
  • Jennifer Black, M.D. / Pediatrician / Doctor
  • John Sands, M.D. / Pediatrician / Doctor
  • Alfred L. Shearer, M.D. / Pediatrician / Doctor

Property Details for 740 Museum Dr

Year built
1970
Lot size
3.37 lot acres
Property size
42,440 SF
Property type
Lifestyle centers
Property subtype
Power centers

Description

This exceptional retail investment opportunity presents a 42,440 square foot, single-story shopping center located at 740 Museum Dr, Mobile, AL 36608. The property, built in 1970 and extensively renovated in 2022, sits on a 3.37-acre lot and boasts 225 parking spaces. Currently operating at 100% occupancy with six tenants, including Ace Hardware and USA Health, this Class B property offers a strong net operating income (NOI) of $367,689, resulting in a compelling 9.23% capitalization rate. The asking price is $3,985,000, translating to $93.90 per square foot. The property features a diverse tenant mix, including national retail, medical, and general office tenants, with several long-term leases in place. Recent upgrades include facade, interior, and landscaping improvements. The property is zoned B-3 Community Business and benefits from a prime location at the intersection of Spring Hill Ave and Museum Drive, experiencing approximately 81,000 daily vehicles. Its proximity to Interstate 65 and downtown Mobile ensures excellent visibility and accessibility. Rent bumps are included in the lease agreements. This fee-simple ownership opportunity provides investors with a stable, high-performing asset with significant value-add potential. The property's strong tenant lineup and strategic location make it an attractive investment for those seeking stability and appreciation.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Mobile
County
Mobile
State
Alabama
Longitude
-88.1481
Latitude
30.7052
More about this property
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