1550 Government St Mobile, AL 36604

Property Details for 1550 Government St

Year built

1986

Lot size

3.84 lot acres

Property size

8,957 SF

Property type

Commercial land

APN

29 10 21 4 001 027.XXX

APU

2910214001027XXX

Description

This exceptional investment opportunity presents a 42,510-square-foot Aldi grocery store located at 1550 Government Street in Mobile, Alabama, within the Mobile MSA. The property sits on a 4.85-acre lot and boasts a strong 100% occupancy rate with a current lease expiring May 31, 2035, offering a remaining term of 10.5 years. The absolute triple-net (NNN) lease, assumed by Aldi in September 2024, includes four 5-year renewal options and a corporate guarantee from Aldi, Inc., eliminating landlord responsibilities. The property generates a substantial net operating income (NOI) of $414,473, resulting in a compelling 5.25% cap rate. Built in 1985, the building benefits from its high-traffic location on Government Street, experiencing over 26,200 vehicles per day. The surrounding area features a strong tenant mix including Walgreens, Starbucks, and others, and enjoys a high average household income of $105,708 within a one-mile radius. The property's proximity to Murphy High School (2,000 students) and Ladd-Peebles Stadium (40,000 seats) further enhances its appeal. The asking price is $7,894,714. This Aldi location serves a densely populated area with over 105,426 people residing within a five-mile radius, ensuring consistent customer traffic and strong financial performance. The store's façade will undergo renovations to reflect current Aldi branding. This is a rare opportunity to acquire a well-established, high-performing grocery store investment with a long-term lease and significant upside potential.

Location Insight

City

Mobile

County

Mobile

State

Alabama

Longitude

-88.0754

Latitude

30.6805

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments