Current Use by Public Records
- Office Spaces
Property Details for 500 St Michael St
- Property type
- Office Spaces
- Property subtype
- Office Units
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.0487
- Latitude
- 30.6913
