21,142 +/- Sq Ft Retail Center For Sale
Retail | 6.98% CAP | 19,110 SqFt
Marketing description
21,142 SF Retail/Office Strip Center For Sale
857 Downtowner Blvd | Mobile, AL
Wise 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 workspace
Investment 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 Summary
Offering Price: $899,000
Cap Rate: 6.98%
Annual Gross Rental Income: $99,429.96
Net Operating Income (NOI): $62,744.96
Annual Operating Expenses: $36,685.00
Annual Operating Expenses
- 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
857 Downtowner Blvd offers investors immediate cash flow with substantial upside through lease-up, converting month-to-month tenants to long-term leases, and increasing rental rates over time.
Listing information deemed reliable but not guaranteed. Buyer to verify all information to their satisfaction during the due diligence period.
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