7601 Theodore Dawes Rd Theodore, AL 36582-9681

Property Details for 7601 Theodore Dawes Rd

Year built

2003

Lot size

3.56 lot acres

Property size

5,000 SF

Property type

Retail properties

APN

33 09 31 2 000 016.001

APU

3309312000016001

Description

This ±5,021 square foot warehouse, built in 2003 and fully renovated in 2024, sits on a ±6-acre lot in Theodore, Alabama. The property boasts three grade-level doors, an 18-foot ceiling height, and significant outdoor storage capacity (1.93% building-to-lot ratio). Currently 100% occupied by Sunbelt Rentals under a seven-year net lease (commencing March 1, 2024, and expiring February 28, 2031) with a strong corporate guarantee from its parent company, Ashtead Group (BBB credit rating). The lease includes favorable 3% annual rent increases, providing inflation protection. The strategic location, within one mile of Interstate 10, offers convenient access to Brookley Aeroplex/Mobile International Airport and the Port of Mobile, a top-ranked national port with exceptional connectivity. The asking price is $3,423,000, representing a 6.50% cap rate and a price per square foot of $681.74. The property also benefits from the ongoing Port of Mobile deepening project, expected to be completed in the first half of 2025, further enhancing its long-term value. The lease includes three 5-year renewal options. Land value is $13.12 per square foot. The recent renovation included complete facility upgrades (lighting, paint, flooring, bathrooms, showroom, offices), installation of two new roll-up doors, concrete apron, asphalt and crushed concrete yard improvements, new chain-link fencing and gate, and new landscaping.

Location Insight

City

Theodore

County

Mobile

State

Alabama

Longitude

-88.2214

Latitude

30.5692

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments