900 Montlimar Dr Mobile, AL 36609-1705
- Medical offices
- 5,240 SF
- 0.74 lot acres
Current Use by Public Records
- Amanda Maddox / Family Practice Physician / Nurse Practitioner
- Donna Heath / Nurse Practitioner
- American Family Care Festival Centre / Walk-In Clinic / X-Ray Lab
Property Details for 900 Montlimar Dr
- Year built
- 1994
- Lot size
- 0.74 lot acres
- Property size
- 5,240 SF
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 28 07 25 2 000 005.006
- APU
- 2807252000005006
Description
This exceptional investment opportunity presents a 4,979 square foot Class A retail building in Mobile, Alabama, currently leased to American Family Care under a new 15-year absolute NNN lease (expiring July 31, 2038). The property boasts a strong 6.18% cap rate and a substantial net operating income (NOI) of $124,972. Situated within Mobile's Festival shopping center (398,441 square feet GLA), this location benefits from high visibility and traffic, positioned near the intersection of I-65 and Airport Boulevard, a major retail corridor with a combined 144,116 vehicles per day. The tenant, American Family Care, is backed by a corporate guarantee, mitigating risk. The lease includes annual rent increases based on CPI, with a 2% floor and no cap, ensuring consistent income growth. Nearby national retailers include Home Depot, Academy Sports + Outdoors, Walk-On's Sports Bistreaux, and JOANN Fabrics, further enhancing the property's desirability and value. The asking price is $2,022,200, representing a price per square foot of $406.15. This is a single-tenant property with a lease commencement date of August 1, 2023, offering a remaining lease term of approximately 13.7 years and a 10-year option. This presents a secure and lucrative investment opportunity in a prime retail location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,400,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,910,000
- 6.5%
- $1,775,000
- 7%
- $1,655,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,665,000
- Geo Method
- $1,945,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,000,000
- Retail
- $1,590,000
- Mixed-Use
- $1,460,000
- Hospitality
- $1,960,000
- Educational
- $1,580,000
- Residential Income
- $1,495,000
- Energy
- $1,685,000
- Income-Based Land
- $1,485,000
- Food Service
- $1,835,000
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.135
- Latitude
- 30.6729
- CBSA code
- 33660
- CBSA name
- MOBILE, AL METROPOLITAN STATISTICAL AREA
