For Sale
Call for price

500 St Michael StMobile, AL 36602

Net Lease, Credit Tenant, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
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
500 St Michael St, Mobile, Alabama

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500 St Michael St
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