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$899,000
Est. payment /mo
21,142 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 21,142 sqft
Price per Sqft $42
Subdivision Al
MLS Listing ID 399102
Construction Status Resale
Year Built 1978
Lot Size 1.290 Acres
Property Sub-Type Retail
Property Description
21,142 SF Retail/Office Strip Center For Sale857 Downtowner Blvd | Mobile, ALWise Living Real Estate is pleased to present 857 Downtowner Blvd, a multi-tenant retail and office investment opportunity located along one of Mobile's established commercial corridors.Situated on 1.29 acres and zoned B-2, the property consists of 21,142 total square feet with approximately 19,110 rentable square feet divided among nine suites. The center is currently 82.09% occupied, with three vacant suites offering immediate lease-up potential while generating existing cash flow.Recent capital improvements include a new roof and resurfaced parking lot, both completed in 2025, reducing near-term capital expenditure requirements.Suite A is occupied by a medical tenant and is the only tenant currently operating under a long-term lease. The remaining occupied suites are leased on a month-to-month basis, while three suites are currently vacant, providing a new owner with significant upside through lease-up, lease renewals, rental rate increases, and strategic tenant improvements.Available Suites Suite B – 1,500 SF office space* Suite D – 848 SF with an open layout and one private office Suite K – 1,075 SF with large conference and meeting rooms suitable for training, meetings, or collaborative workspaceInvestment Highlights 1.29 Acres* B-2 Zoning 21,142 Total Building SF 19,110 Rentable SF Nine Suites 82.09% Occupied 17.91% Vacant Three Vacant Suites Prime Downtowner Blvd Location New Roof (2025) Resurfaced Parking Lot (2025)Financial SummaryOffering Price: $899,000Cap Rate: 6.98%Annual Gross Rental Income: $99,429.96Net Operating Income (NOI): $62,744.96Annual Operating Expenses: $36,685.00 Property Taxes: $10,885 Insurance: $18,000 Waste Management: $4,200 Common Area Lighting: $1,200 Lawn Care: $2,400. Total Operating Expenses: $36,685. Buyer to verify all information to satisfaction during contingency period(s). Buyer to verify all information during due diligence.
Location
State AL
County Mobile County
Zoning Business/Commercial
Interior
Heating Central
Cooling Central Air
Exterior
Parking Features Common
Utilities Available See Remarks
Garage No
Building
Lot Description Level
Foundation Slab
New Construction No
Construction Status Resale
Others
Senior Community No
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Listed by Wise Living Real Estate, LLC
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