736 Hillcrest RdMobile, AL 36695

Property Details for 736 Hillcrest Rd

Year built

1993

Lot size

1.32 AC

Property size (Sq ft)

3,752 SF

Property type

Retail properties

Property subtype

Banks

APN

28 04 20 4 000 113.001

APU

2804204000113001

Description

This exceptional investment opportunity presents a freestanding, 3,750-square-foot Truist Bank building situated on a substantial 1.32-acre lot in Mobile, Alabama. The property boasts a highly desirable location at the signalized intersection of Hillcrest Road and Airport Boulevard, experiencing a combined daily vehicle traffic count of 53,280. Ample parking and multiple access points cater to customer convenience. The property benefits from a strong demographic profile, with over 130,987 residents within a five-mile radius and proximity to USA Health Providence Hospital, a 349-bed medical facility, less than a mile away. This absolute NNN lease with Truist Financial Corporation, a major financial institution with over $460 billion in assets, offers exceptional security and stability. The lease, originally commencing December 17, 2007, has a remaining term of approximately 1.1 years, with three, 5-year lease options including 1.25% annual rent bumps. The building, constructed in 1998, generates a substantial net operating income (NOI) of $123,094, representing a compelling 7.25% cap rate based on the asking price of $1,698,000. This translates to a price per square foot of $452.80. The property's strong tenant, prime location, and favorable lease terms make it an attractive addition to any investment portfolio. The 100% occupancy rate further underscores the property's value and potential for long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $874,647

  6.5%

  $807,366

  7%

  $749,697

• Comparable approach

  Method

  Valuation

  Relative Method

  $721,239

  Geo Method

  $672,159

• Alternative Use

  Use

  Valuation

  Residential

  $681,044

  Hospitality

  $623,832

  Educational

  $519,021

  Medical

  $536,871

  Retail

  $807,366

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6767

Longitude

-88.1915

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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