10 Springdale BlvdMobile, AL 36606

Property Details for 10 Springdale Blvd

Year built

1993

Lot size

1.01 AC

Property size (Sq ft)

19,233 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

28 06 24 1 000 005.003

APU

2806241000005003

Description

This Mobile, Alabama industrial property, located at 10 Springdale Blvd, 36606, presents a compelling value-add investment opportunity. The 20,069 square foot building, constructed in 1993 and renovated in 2014, sits on a 41,818 square foot lot and features a 25-foot ceiling height. The two-story structure, built with tilt-up concrete panels and a reinforced concrete slab, boasts a mix of office and warehouse space. The first floor encompasses approximately 19,000 square feet, including offices, a cooler room, commercial kitchen, sales and display areas, and processing and warehouse space. A 29,700 cubic foot cooler (+35°) is also included. The second floor offers an additional 1,069 square feet of heated and cooled space, potentially usable as office space or an apartment, plus 4,013 square feet of mezzanine storage. Three loading docks and 25 parking spaces are available. Currently, the property is 20% occupied by ten tenants in a gross lease arrangement, generating a net operating income (NOI) of $72,000, with a 4.80% cap rate. The property is zoned B-3 Community Business and is strategically located minutes from I-10 and I-65. The building was previously used by a food manufacturer and currently houses three commissary kitchens, each with existing tenants. The seller may consider a short-term lease of approximately 6,000 square feet. The asking price is $1,500,000, representing $74.74 per square foot. This fee simple ownership offers significant potential for increased revenue and return on investment.

Location Insight

City

Mobile

County

Mobile

State

Alabama

Latitude

30.6876

Longitude

-88.1239

CBSA code

33660

CBSA name

MOBILE, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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