6300 Grelot RdMobile, AL 36609

Property Details for 6300 Grelot Rd

Year built

1997

Lot size

11.99 AC

Property size (Sq ft)

78,871 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

28 08 28 3 000 069.XXX

APU

2808283000069XXX

Description

Hillcrest Marketplace, a single-story, 76,364 square foot neighborhood retail center in Mobile, Alabama, presents a compelling investment opportunity. Built in 1997, this property boasts a strong anchor tenant, Winn Dixie, ensuring consistent traffic and visibility. Currently, there is 10,200 square feet of vacant space available, including one sizable unit of 6,200 square feet, ideal for a variety of retail uses. The center is strategically located at 6300 Grelot Rd, Mobile, AL 36609, in Mobile County, benefiting from its proximity to medical facilities, office buildings, storage units, and a car wash, creating a high-traffic area with diverse customer demographics. The property features no elevators, a common characteristic for single-story retail centers. The convenient location and established tenant base make this a prime opportunity for expansion or new business establishment. The available space offers significant potential for growth and profitability within a thriving retail environment. This well-maintained center provides a solid foundation for a successful retail venture. The property's size and location make it an attractive option for businesses seeking high visibility and accessibility in a busy commercial area. The existing anchor tenant provides a stable base for the center's overall performance.

• CAP approach

  CAP return

  Valuation

  6%

  $14,003,900

  6.5%

  $12,926,700

  7%

  $12,003,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,136,680

  Geo Method

  $5,719,080

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $24,299,400

  Retail / Commercial

  $12,746,700

  Hospitality / Lodging

  $9,777,450

  Office

  $13,084,800

  Institutional / Educational

  $13,519,200

  Residential Income

  $15,817,400

  Multifamily

  $17,720,700

  Automotive / Energy

  $11,587,800

  Parking / Income-Based Land

  $3,776,080

  Restaurant / Food Service

  $7,204,450

  Healthcare / Senior Housing

  $13,024,900

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6626

Longitude

-88.1883

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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