1409 Government StMobile, AL 36604

Property Details for 1409 Government St

Year built

1984

Lot size

0.48 AC

Property size (Sq ft)

6,642 SF

Property type

Office buildings

APN

29 10 22 3 002 009.XXX

APU

2910223002009XXX

Description

This 6,584-square-foot, single-story office building in Mobile, Alabama's Midtown area is available for sale at $425,000 ($64.55/SF). Built in 1984, this Class B property sits on a 0.48-acre lot and features 25 parking spaces. The building, zoned B1, is currently vacant but offers excellent potential. Originally designed for two tenants, it presents an opportunity for an investor to lease out one side or for a single user to occupy the entire space. The property boasts a prominent glass storefront on Government Street, providing high visibility. A significant recent improvement includes a new roof installed in October 2023, featuring a two-ply glass felt, tar organic base, and rubber cap, backed by a five-year warranty. Located across from PNC Bank, west of Broad Street, the building benefits from strong traffic counts and convenient surface parking. Its ideal location and layout make it suitable for various professional uses, such as medical or legal practices. The fee-simple ownership offers complete control and potential for significant return on investment. The property requires renovation. The Mobile County property's APN is R022910223002009.

• CAP approach

  CAP return

  Valuation

  6%

  $899,557

  6.5%

  $830,360

  7%

  $771,049

• Comparable approach

  Method

  Valuation

  Relative Method

  $449,544

  Geo Method

  $472,180

• Alternative Use

  Use

  Valuation

  Residential

  $1,029,647

  Hospitality

  $943,151

  Educational

  $784,690

  Medical

  $811,677

  Retail

  $1,220,630

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6808

Longitude

-88.0699

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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