Property profile

602 Azalea Rd Mobile, AL 36609

FOR SALE
Investment properties
Property ID
US03-0484201
18,424 SF 0.84 ac lot Built 1987
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 17,985-square-foot retail/warehouse property in Mobile, Alabama, presents a significant investment opportunity. Located at 602 Azalea Rd, 36609, this single-story, 1987-built building sits on a 1.26-acre lot and boasts ±240 feet of frontage on Azalea Road, a high-traffic area with 13,628 vehicles per day (2022 data). The property is zoned B3 and features a ±8,062 square foot retail space divisible into four storefronts, each with its own restrooms and access. The adjacent ±9,923 square foot warehouse includes two 12-foot ground-level roll-up doors, 14-foot eave height, and a 20-foot center height. Currently vacant, this REO property offers immense potential for various uses, including office, retail, or warehouse operations. The asking price is $1,100,000, translating to $61.16 per square foot. This prime location and versatile space make it an ideal investment for savvy buyers seeking high-return potential in a thriving Mobile market. The property's size and configuration offer flexibility for a variety of business models. Don't miss this chance to acquire a substantial commercial property in a high-demand area.

Property profile

Verified
Property type Investment properties
Use group STORE/OFFICE (MIXED USE)
Year built 1987
Total area 18,424 SF
Lot 0.84 ac (36,634 SF)
APN 28 07 35 1 002 077.003
UPID US03-0484201

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
  • Property Management Company
  • Business Management Consultant
  • Furniture & Home Goods Home Decor Store

Location

602 Azalea Rd Mobile, AL 36609
Mobile metro Census 3202 MOBILE, AL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.00M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.16M
Blend (final) Blend
$1.00M

Owner & transaction history

since 2024
Last sale
$1.0M
2 recorded transactions
2024
$1.1M
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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