Investment Opportunity: Premium Midtown Office Building
Income opportunity with current lease expiring 4.30.2031
Marketing description
Property Overview:
This fully renovated historic office building is strategically located on Springhill Avenue and offers 2,951 sq ft of professional office space in a prime Midtown Mobile location. The property combines historic architectural features with comprehensive modern upgrades completed in 2022. It is surrounded by professional offices and retail within Midtown Mobile’s established commercial corridor. The location provides convenient access to Downtown Mobile, I-10, and surrounding neighborhoods. Its high-visibility position and proximity to Downtown Mobile make it well-suited for legal, medical, accounting, real estate, financial planning, and other professional office users seeking a move-in ready space with strong visibility and historic character.
Key Property Features:
Size: 2,951 SF
Private Offices: 5
Additional Rooms: 3 rooms + 1 full bath on second floor (ideal for conference, file storage, or expansion)
Restrooms: 3 (including ADA-compliant)
Kitchen: Fully renovated
Flooring & Interior: Original hardwood floors, high ceilings, elegant trim details
Parking: Ample on-site and adjacent gravel lot parking
Accessibility: ADA-compliant restrooms and ramp-accessible deck
Zoning: B-1 (Buffer Business)
DTC = 14,680
Renovations (Completed 2022):
Kitchen and bathroom upgrades (including ADA compliance)
New lighting throughout
Full interior and exterior paint
Landscaping and privacy fencing
Rear parking pad installation
Deck with ADA ramp
Investment highlights
Great opportunity for an income producing asset. Current lease is with Specialized Alternatives for Families and Youths of Alabama, Inc. (SAFY of Mobile). SAFY strengthens families and communities through foster care services, behavioral health services, and family support services for youth.
- Lease commencement is June 1, 2026, and ends on May 31, 2031.
- Modified Gross Lease with 3% increases per year.
- Year one gross income: $33,198.75
- Year five gross income: $37,365.48
Estimated Cap Rate: 7.49%
- Gross Average Income: $35,220.00
- Annual Operating Expenses: $3,385.00
- Net Operating Income (NOI): $31,835.00
- Purchase Price / Value: $425,000
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