1509 Government StMobile, AL 36604

Property Details for 1509 Government St

Year built

1968

Lot size

0.72 AC

Property size (Sq ft)

31,272 SF

Property type

Office properties

Property subtype

Office buildings

APN

29 10 21 4 003 005.XXX

APU

2910214003005XXX

Description

This five-story, 8,450 square foot medical office building at 1509 Government Street in Mobile County, Alabama, offers various suite options for lease. Built in 1968, the property sits on a 0.788-acre lot and features 68 parking spaces. Currently, 6,500 square feet of space is available for lease, with options ranging from smaller private offices (300-1,600 sq ft) on the second and fifth floors to the entire 6,500 sq ft third floor. The building is zoned B-2 and boasts excellent visibility and accessibility due to its prime location on Government Street, close to Downtown Mobile. Lease rates are competitive, ranging from $11 to $15 per square foot annually, with utilities (electricity and water) included. Several suites are move-in ready, including a spacious 1,600 sq ft suite (formerly occupied by Rent Expert) featuring a reception area, conference room, private offices, cubicles, workstations, and a server room. A smaller, 350 sq ft suite on the second floor is also available, offering a bright and convenient location near the elevator. The building's layout is flexible, allowing for customization to meet specific tenant needs. The APN is 2910214003005. This is an exceptional opportunity for medical professionals seeking a well-located, adaptable office space in Mobile.

• CAP approach

  CAP return

  Valuation

  6%

  $4,235,312

  6.5%

  $3,909,519

  7%

  $3,630,268

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,116,550

  Geo Method

  $2,223,126

• Alternative Use

  Use

  Valuation

  Residential

  $4,847,804

  Hospitality

  $4,440,562

  Educational

  $3,694,495

  Medical

  $3,821,555

  Retail

  $5,746,992

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6796

Longitude

-88.073

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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