857 Downtowner Boulevard

Description

21,142 SF Retail/Office Strip Center For Sale857 Downtowner Blvd | Mobile, ALWise 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 workspaceInvestment 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 SummaryOffering Price: $899,000Cap Rate: 6.98%Annual Gross Rental Income: $99,429.96Net Operating Income (NOI): $62,744.96Annual Operating Expenses: $36,685.00 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. Buyer to verify all information to satisfaction during contingency period(s). Buyer to verify all information during due diligence.