1509 Government Street Office Building

Office for Sale
Catylist Listing ID: 30135918
Property Subtypes: Executive Suites, Office Building
Building Size (RSF): 31,326 SF
Gross Land Area: 1.10 Acres
Sale Price: $1,825,000
Unit Price: $58.26 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2018

Overview / Comments

5 Story Multi-Tenant Office Building For Sale on Government Street in Midtown Mobile Priced at a 8% Cap Rate. The building has great visibility off of Government with ample parking behind the building. The building is a total of 31,362 SF with 6,272 SF floor plates. The property is currently 71% occupied with approximately 7,200 SF currently vacant giving a new owner the ability to increase the income on the property.

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: 2910214003005.000
Property Visibility: Excellent
Area Description: The property is located on the south side of Government Street between Interstate 65 and Downtown Mobile. The property is approximately 2.5 miles from the heart of Downtown Mobile and 3.5 miles from Interstate 65.Across the street from the building is a retail development with Winn-Dixie Grocery Store, Starbucks Coffee, Office Depot, and Papa Johns.
Total Number of Buildings: 1
Number of Stories: 5
Roof Type: Flat
Construction/Siding: Block
Passenger Elevators: 2

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,771 73,343 129,267
Median Age: 35.72 36.22 36.2
Households: 6,140 28,889 51,177
The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.