740 Museum DrMobile, AL 36608

Property Details for 740 Museum Dr

Year built

1970

Lot size

3.37 AC

Property size (Sq ft)

42,440 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional retail investment opportunity presents a 42,440 square foot, single-story shopping center located at 740 Museum Dr, Mobile, AL 36608. The property, built in 1970 and extensively renovated in 2022, sits on a 3.37-acre lot and boasts 225 parking spaces. Currently operating at 100% occupancy with six tenants, including Ace Hardware and USA Health, this Class B property offers a strong net operating income (NOI) of $367,689, resulting in a compelling 9.23% capitalization rate. The asking price is $3,985,000, translating to $93.90 per square foot. The property features a diverse tenant mix, including national retail, medical, and general office tenants, with several long-term leases in place. Recent upgrades include facade, interior, and landscaping improvements. The property is zoned B-3 Community Business and benefits from a prime location at the intersection of Spring Hill Ave and Museum Drive, experiencing approximately 81,000 daily vehicles. Its proximity to Interstate 65 and downtown Mobile ensures excellent visibility and accessibility. Rent bumps are included in the lease agreements. This fee-simple ownership opportunity provides investors with a stable, high-performing asset with significant value-add potential. The property's strong tenant lineup and strategic location make it an attractive investment for those seeking stability and appreciation.

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.7052

Longitude

-88.1481

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].