3026 Cottage Hill RdMobile, AL 36606

Property Details for 3026 Cottage Hill Rd

Year built

1997

Lot size

0.38 AC

Property size (Sq ft)

2,707 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

29 09 30 3 001 053.XXX

APU

2909303001053XXX

Description

This exceptional investment opportunity presents a 2,700 square foot, single-story building situated on a 0.35-acre lot in Mobile, Alabama. Currently vacant, this property, located at 3026 Cottage Hill Road, boasts a convenient location just east of the northeast corner of Cottage Hill Road and Bel Air Boulevard, behind a newly constructed Circle K. The building, constructed in 1975, is zoned R-3, permitting multifamily use. Previously utilized as a convenience store, a use variance is no longer applicable, restricting future use to multifamily residential. The property offers significant potential for conversion into apartments or a single-family rental, given its size and zoning. The asking price is $110,000, translating to $40.74 per square foot. The lot dimensions are approximately 100' x 150' x 94' x 180'. This fee-simple ownership opportunity presents a compelling investment prospect for those seeking a multifamily project in a desirable Mobile location. The property features a single unit and is offered as an owner/user investment with a NNN lease type. The parcel number is R022909303001053. This is a vacant property with significant upside potential for the right investor.

• CAP approach

  CAP return

  Valuation

  6%

  $538,934

  6.5%

  $497,477

  7%

  $461,943

• Comparable approach

  Method

  Valuation

  Relative Method

  $461,702

  Geo Method

  $484,950

• Alternative Use

  Use

  Valuation

  Residential

  $419,641

  Hospitality

  $384,389

  Educational

  $319,807

  Medical

  $330,805

  Retail

  $497,477

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.669

Longitude

-88.117

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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