602 Azalea RdMobile, AL 36609

Property Details for 602 Azalea Rd

Year built

1987

Lot size

0.84 AC

Property size (Sq ft)

18,424 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

28 07 35 1 002 077.003

APU

2807351002077003

Description

This exceptional 17,985-square-foot retail/warehouse property in Mobile, Alabama, presents a significant investment opportunity. Located at 602 Azalea Rd, 36609, this single-story, 1987-built building sits on a 1.26-acre lot and boasts ±240 feet of frontage on Azalea Road, a high-traffic area with 13,628 vehicles per day (2022 data). The property is zoned B3 and features a ±8,062 square foot retail space divisible into four storefronts, each with its own restrooms and access. The adjacent ±9,923 square foot warehouse includes two 12-foot ground-level roll-up doors, 14-foot eave height, and a 20-foot center height. Currently vacant, this REO property offers immense potential for various uses, including office, retail, or warehouse operations. The asking price is $1,100,000, translating to $61.16 per square foot. This prime location and versatile space make it an ideal investment for savvy buyers seeking high-return potential in a thriving Mobile market. The property's size and configuration offer flexibility for a variety of business models. Don't miss this chance to acquire a substantial commercial property in a high-demand area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,622,915

  6.5%

  $3,344,229

  7%

  $3,105,356

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,178,368

  Geo Method

  $2,030,131

• Alternative Use

  Use

  Valuation

  Residential

  $3,344,229

  Hospitality

  $3,063,296

  Educational

  $2,548,626

  Medical

  $2,636,278

  Retail

  $3,964,530

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6565

Longitude

-88.1483

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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