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500 St Michael St Mobile, AL 36602

Net Lease, Credit Tenant, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a single-story, 8,500-square-foot Class A creative office building in Downtown Mobile, Alabama. Located at 500 St. Michael Street, within the historic De Tonti Square district, this property is fully occupied by a credit-rated national tenant, Automation + Controls Engineering (ACE), a subsidiary of a company generating nearly $150 million in annual sales. The building benefits from a triple-net (NNN) lease structure, offering minimal landlord responsibilities. ACE's lease includes annual rent bumps, ensuring consistent income growth. With five years remaining on the lease term, this investment provides a strong return with predictable cash flow. The property has recently undergone renovations, enhancing its appeal and functionality. De Tonti Square is a vibrant nine-block district encompassing approximately 28 acres, featuring a mix of office buildings, restaurants, shops, and galleries. This prime location offers excellent visibility and access to a diverse community. The property's strong tenant, favorable lease terms, and desirable location make it an attractive investment opportunity. The Net Operating Income (NOI) is $85,075.

Highlights

  • 8,500 SF Class A creative office building in Downtown Mobile's De Tonti Square.
  • Fully occupied by credit-rated national tenant (ACE) with a NNN lease and annual rent increases.
  • Five-year lease remaining, generating $85,075 NOI.
  • Recently renovated building in a vibrant, nine-block historic district with diverse amenities.

Property Details for 500 St Michael St

Property type
Office properties, Office space
Square Feet
8,500 SF
Class
A
Stories
1
Units
1

Location Insight

City
Mobile
County
Mobile
State
Alabama
Latitude
30.69134527
Longitude
-88.04872717

FAQs

What type of property is this?
Office property - Net Lease, Credit Tenant, High NOI
Where is the office property located?
The property is located at 500 St Michael St Mobile, AL.
What are key features of this property?
This property features: 8,500 SF Class A creative office building in Downtown Mobile's De Tonti Square.; Fully occupied by credit-rated national tenant (ACE) with a NNN lease and annual rent increases.; Five-year lease remaining, generating $85,075 NOI.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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500 St Michael St
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