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Property profile & analytics
FOR SALE
Investment properties

602 Azalea Rd Mobile, AL 36609

18,424 SF 0.84 ac lot Built 1987
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US03-0484201
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • FLC Living Property Management Company
  • Sonny Callahan & Associates Business Management Consultant
  • Not Just Dorms Furniture & Home Goods Home Decor Store
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
Hancock Whitney Bank · 1 yrs held
Hancock Whitney Bank
since 2024
Last sale
$1.0M
2 recorded transactions
2024
$1.1M
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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