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Merchants Plaza 3 Properties Offered at $11,900,000 in Mobile, AL
Investment Highlights
- Historic downtown Mobile landmark revitalized through a multimillion-dollar adaptive reuse program
- Luxury multifamily residences achieving strong occupancy and premium rental rates
- Unique mixed-use layout offering income stability, long-term value potential, and rare additional developable area
- Established Class A tenant roster featuring long-term leases
- Prime position at St. Joseph and St. Francis Streets
Executive Summary
Rising prominently at the intersection of St. Joseph and St. Francis Streets, Merchants Plaza offers investors the rare opportunity to acquire one of downtown Mobile’s most iconic mixed-use assets. Originally developed in 1929 as the region’s first true skyscraper, the property underwent a comprehensive, multimillion-dollar revitalization that preserved its historic character while delivering modern finishes and functionality for today’s residents and commercial users. This blend of authenticity and contemporary design has positioned the building as a premier destination within Mobile’s continually strengthening urban core.
The residential component features well-appointed luxury units with polished concrete flooring, exposed brick, high ceilings, and curated interior details that consistently attract strong renter demand. With occupancy holding at a high level and average in-place rents among the top tier of the market, the multifamily segment offers meaningful stability and long-term income-growth potential.
Complementing the residential performance is a collection of established commercial tenants, including regional law firms, a financial institution, and a national telecommunications provider. These occupiers contribute nearly one million dollars in annual rent revenue, supported by long-term commitments that reinforce the building’s durable income profile and enhance underwriting certainty for prospective buyers.
Merchants Plaza also benefits from its walkable location within the heart of downtown Mobile. The building is surrounded by cultural institutions, hospitality destinations, government buildings, restaurants, entertainment venues, and waterfront attractions that continue to attract new residents and employers to the area. The property’s combination of proven operational performance, historic architectural appeal, and placement within a revitalized urban district creates a compelling opportunity for investors seeking a high-quality mixed-use asset with both stability and future upside.
The residential component features well-appointed luxury units with polished concrete flooring, exposed brick, high ceilings, and curated interior details that consistently attract strong renter demand. With occupancy holding at a high level and average in-place rents among the top tier of the market, the multifamily segment offers meaningful stability and long-term income-growth potential.
Complementing the residential performance is a collection of established commercial tenants, including regional law firms, a financial institution, and a national telecommunications provider. These occupiers contribute nearly one million dollars in annual rent revenue, supported by long-term commitments that reinforce the building’s durable income profile and enhance underwriting certainty for prospective buyers.
Merchants Plaza also benefits from its walkable location within the heart of downtown Mobile. The building is surrounded by cultural institutions, hospitality destinations, government buildings, restaurants, entertainment venues, and waterfront attractions that continue to attract new residents and employers to the area. The property’s combination of proven operational performance, historic architectural appeal, and placement within a revitalized urban district creates a compelling opportunity for investors seeking a high-quality mixed-use asset with both stability and future upside.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Third Party Reports
- Title and Insurance
- Miscellaneous
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Merchants Plaza
56 St. Joseph St, Mobile, AL 36602 |
Multifamily | 57,789 SF | 2020 | - |
| 106 Saint Francis St, Mobile, AL 36602 | Office | 73,212 SF | 1955 | - |
| 111 Saint Michael St, Mobile, AL 36602 | Office | 50,000 SF | 1955 | - |
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Sale Advisor
Sale Advisor
Steven McMahon, Associate Broker
Steven McMahon was born in Mobile, and raised in Fairhope. He is a graduate of Fairhope High School and The University of Alabama, with a Business degree in Finance, with a concentration in Real Estate.
Steven is a member of the Mobile and Baldwin County Association of Realtors, and is active in local civic organizations. He has been a licensed real estate agent since 2004, and handles all ranges of brokerage, tenant representaion, site acquisition for single and multi-family projects as well as industrial properties and build-to-suit projects.
Steven is a member of the Mobile and Baldwin County Association of Realtors, and is active in local civic organizations. He has been a licensed real estate agent since 2004, and handles all ranges of brokerage, tenant representaion, site acquisition for single and multi-family projects as well as industrial properties and build-to-suit projects.
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