
456 / 458 N Section Street
Prime Section Street Investment | Multi-Tenant Income + Value-Add Opportunity
Marketing description
Prime Section Street investment opportunity featuring contiguous buildings across two separately platted parcels, currently operating as multi-tenant space with approximately 45% occupancy and one tenant in place, offering immediate income with significant upside through lease-up and repositioning. Existing tenant in place providing current income on a month-to-month basis, with expressed willingness to enter into a new lease, offering a buyer the opportunity to secure stabilized income. Positioned on highly trafficked Section Street with 111 feet of frontage and strong visibility just minutes from downtown Fairhope, the property features high ceilings and a flexible layout including open service/shop space along with a suite configured with four private offices, supporting a variety of retail, office, or service-based uses. The property includes 456 and 458 N Section Street (PPIN #57306 and #11239) and is being offered together, providing scale and future flexibility. Pro forma NOI estimated at $90,000 based on projected lease-up of current vacancy and market rental assumptions following planned improvements; operating expenses are estimated and buyer to verify all financials during due diligence. Contractor renovation scope available upon request outlining value-add potential. Property is being sold as-is. Buyer to verify all measurements, zoning, and permitted use during due diligence.
Investment highlights
- Value-add investment opportunity with in-place income and significant upside
- Approximately 45% occupied, offering immediate lease-up potential
- Existing tenant paying $4,100/month with opportunity to formalize new lease
- Pro forma NOI estimated at $90,000 based on lease-up and market rental assumptions
- Pro forma cap rate approximately 6.4% upon stabilization
- High-visibility location with 111 feet of frontage on Section Street
- Flexible layout featuring high ceilings, open service/shop space, and 4-office suite configuration
- Suitable for retail, office, or service-based users
- Two separately platted parcels included (456 & 458 N Section Street)
- Renovation scope available outlining clear value-add strategy
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