UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $395
MLS Listing ID 7868163
Annual Tax Amount $10,486
Tax Year 10486
Lot Size 0.317 Acres
Property Sub-Type Mixed Use
Property Description
Discover the investment potential of this waterfront, mixed-use property on highly visible Lemoyne Drive in Dauphin Island, Alabama. Featuring three income-producing condominium units, ground-floor commercial space, a swimming pool, and boat docking facilities, this property offers an attractive combination of established rental income and commercial opportunities.
The building currently includes three rental condominiums: a spacious three-bedroom, two-bath unit on the lower level and two additional two-bedroom, two-bath units upstairs. The ground floor also features commercial space currently utilized by the seller for an established watercraft rental business operating in conjunction with the property's docks.
Generating over $200,000 in annual gross rental income with a cap rate over 7%, this property presents an opportunity for investors seeking an established income-producing waterfront asset on Dauphin Island.
Zoned Resort Commercial (RC), the property benefits from one of Dauphin Island's most flexible zoning classifications, accommodating a variety of potential uses, including residential, multifamily, lodging, retail, and marine-related businesses, subject to applicable zoning requirements and approvals. This versatility creates opportunities for continued rental operations, business expansion, or future redevelopment.
Conveniently located within walking distance of restaurants, shopping, entertainment, and local attractions, the property places residents and visitors near many of the experiences that make Dauphin Island a popular Gulf Coast destination.
Known for its relaxed coastal atmosphere, Dauphin Island offers miles of beaches, a scenic seven-mile bicycle and pedestrian trail, outstanding fishing and boating, birdwatching, and a welcoming small-town community without a single traffic light.
Whether you're looking to expand your vacation rental portfolio, establish a waterfront business, or explore the possibilities of a mixed-use coastal investment, this Lemoyne Drive property offers income, location, and versatility in one waterfront setting.
* Listing Agent and Brokerage make no representation to the accuracy of the listing description, or statements, including any potential deed restrictions, zoning or local regulations, and other matters or record. Buyer to verify all information independently.
Location
State AL
County Mobile - Al
Zoning RC
Direction Drive south across the Dauphin Island Bridge. Turn left on Delchamps Dr, then right on the Lemoyne access rd. The property is on the left.
Rooms
Basement None
Interior
Interior Features Other
Heating Central
Cooling Central Air
Flooring Other
Exterior
Fence Wood
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Waterfront Description Bay Front
View Y/N true
View Water
Roof Type Metal
Total Parking Spaces 14
Building
Lot Description Other
Foundation Concrete Perimeter
Sewer Other
Water Public
Level or Stories Two
Nearby Locations