Fully Leased Office Biulding For Sale

Office for Sale
Catylist Listing ID: 30181386
Property Subtypes: Office Building
Building Size (RSF): 6,481 SF
Gross Building Area: 7,451 SF
Gross Land Area: 23,000 SF
Sale Price: $550,000
Unit Price: $84.86 PSF
Ceiling: 8 ft.
Property Use Type: Investment
Building Name: 4321 Midmost Drive
Class of Space: Class C
Usable Size (USF): 6,481 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/15/2018

Overview / Comments

Subject location has been self managed for more than 10-years. There has been little to no increases in rent during that time. The site is well located just off Airport Blvd. in a professional business area. The subject currently has five (5) tenants.
each having approximately 1,100 square feet.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $3,551 (Annual)
Tax Value Land $90,900
Tax Value Improvements $192,300
Assessed Value - Total($) $283,200 (Annual)
Potential Rental Income $66,000 (Annual)
Gross Operating Income $48,000 (Annual)
Net Operating Income $36,200 (Annual)

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: R022807261000027.
Zoning: B-3
Property Located Between: Airport Blvd and Midmost Drive
Property Visibility: Good
Site Description: Well located in the middle of other office buildings.
Area Description: Professional office use.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,100 SF
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick
Parking Ratio: 6.5 (per 1000 SF)
Parking Type: Surface
Parking Description: Next to building shared. Each unit having approximately 6 spaces each.
Total Parking Spaces: 40
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: Business / retail
Lot Frontage: 100
Lot Depth: 230
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: LLC
Legal Description: Downtown West Unit 2 Resub of Lot 27

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,697 87,014 198,500
Median Age: 33.3 36.06 36.56
Households: 4,580 36,245 80,347
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.