1550 Government St Mobile, AL 36604
Property profile & analytics
1550 Government St Mobile, AL 36604
- Commercial land
- 8,957 SF
- 3.84 lot acres
Property ID
US03-0332855
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Cardtronics ATM / Atm
- CDReload - Online Bitcoin ATM / Atm / Crypto Atm
- Phillip D. Cashion, RPH / Pharmacy
- Coinstar Kiosk - Bitcoin ATM / Atm / Currency Exchange Service
- Coinhub Bitcoin ATM Teller / Atm
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $960,000
- AI Estimate
- $880,000
Market price range: $379k - $1.24MMarket price range: $306k - $1.10M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $755,000 Current use
- INDUSTRIAL (GENERAL)
- $1,265,000 Change: +67% Conversion: Moderate
- OFFICE BUILDING
- $975,000 Change: +29% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,279
$117,200
$0.00
$117,200
-
$586,000
$0.00
$586,000
