Merchants Plaza 3 Properties Offered at $11,900,000 in Mobile, AL

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 the modern finishes and functionality required by 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 exhibiting polished concrete flooring, exposed brick, large ceiling heights, and curated interior details that consistently draw strong renter demand. With occupancy holding at a high level and average in-place rents among the top tier of the market, the multifamily portion offers meaningful stability and long-term income growth potential. Complementing the residential performance is a collection of established commercial tenants that include 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.