2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL, 36606 - Available for Sale

Retail For Sale

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ST. FRANCIS PLAZA

2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL 36606

$3,700,000

73,878 SF | Retail

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ST. FRANCUS PLAZA, Food World and Dollar General

Retail Property For Sale

Price:
$3,700,000
Gross Leasable Area:
73,878 SF
Price/SF:
$50.08
Property Type:
Retail
Property Sub-type:
Community Center
Property Use Type:
Investment
Commission Split:
1.5%
Cap Rate:
8.70%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1978
Lot Size:
5 AC
Listing ID
17395050
Last Updated
5 days ago

Find Out More...

Highlights

  • Food World lease guaranreed by Ahold USA Corp (Tenant in occupancy for 33 yrs). Negotiating a renewal lease.
  • Dollar General entered into a new primary lease after CVS sublet expired. Renewed for 5 more years thru 2018.
  • Rent-A-Center has been a tenant for over 21 yrs. Will be entering into a new lease.
  • ABC Liquors is a state owned tenant and guarantees the lease. Will be expanding and enering into a new lease.
  • Advance America has been a tenant for 13 yrs.

Description

An attractive, well maintained community center containing 73,878 sq.ft. Built in 1978 and expanded and refurbished in 2004. New roof over satellite stores in 2002; new roof over supermarket 2005.
Major tenants occupy 84% of center: Food World (Ahold), Dollar General, Rent-A-Center and ABC State Liquor Store.

Situated approx 3 miles west of Downtown Mobile on Government Blvd. (US Hwy #90), the major east/west commercial thoroughfare between downtown Mobile and Interstate I-65, a 6 mile stretch. Immediate area is made up of established residential developments and small retail properties. This is the primary shopping center in the immediate area.

Financial Summary

Major Tenant Information

  • Actual
  • 2013
  • $440,356
  • $440,356
  • $118,387
  • $321,969

Map of 2501 GOVERNMENT BLVD. (US HWY #90), Mobile, AL 36606 (Mobile County)

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Asking Price Index Trends for Mobile, AL Retail For Sale

  Mar 15 vs. 3 mo.
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State
$98+5.6%+6.6%

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ST. FRANCIS PLAZA
  • Retail
  • $3,700,000
  • 73,878 SF