Property profile

1509 Government St Mobile, AL 36604

OFF-MARKET
Office buildings
Property ID
US03-0013741
31,272 SF 0.72 ac lot Built 1968
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This five-story, 8,450 square foot medical office building at 1509 Government Street in Mobile County, Alabama, offers various suite options for lease. Built in 1968, the property sits on a 0.788-acre lot and features 68 parking spaces. Currently, 6,500 square feet of space is available for lease, with options ranging from smaller private offices (300-1,600 sq ft) on the second and fifth floors to the entire 6,500 sq ft third floor. The building is zoned B-2 and boasts excellent visibility and accessibility due to its prime location on Government Street, close to Downtown Mobile. Lease rates are competitive, ranging from $11 to $15 per square foot annually, with utilities (electricity and water) included. Several suites are move-in ready, including a spacious 1,600 sq ft suite (formerly occupied by Rent Expert) featuring a reception area, conference room, private offices, cubicles, workstations, and a server room. A smaller, 350 sq ft suite on the second floor is also available, offering a bright and convenient location near the elevator. The building's layout is flexible, allowing for customization to meet specific tenant needs. The APN is 2910214003005. This is an exceptional opportunity for medical professionals seeking a well-located, adaptable office space in Mobile.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1968
Total area 31,272 SF
Lot 0.72 ac (31,289 SF)
APN 29 10 21 4 003 005.XXX
UPID US03-0013741

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Construction Company General Contractor
  • Corporate Office
  • Artist
  • Telecommunications Service

Location

1509 Government St Mobile, AL 36604-2027
Mobile metro Census 903 MOBILE, AL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.30M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.08M

Owner & transaction history

since 2023
Last sale
$935,500
6 recorded transactions
2023
$935,500
2010
Price N/A
2006
$1.1M
1969
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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