Magnolia Place Office Space

Office for Sale
Sale Pending
Catylist Listing ID: 30186365
Property Subtypes: Business Park, Office Building
Status: Pending
Condo? Yes
Building Size (RSF): 1,050 SF
Gross Land Area: 0.70 SF
Sale Price: $89,900
Property Use Type: Vacant/Owner-User
Building Name: Magnolia Park Office Condo
Class of Space: Class B
Usable Size (USF): 1,002 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/11/2019

Overview / Comments

Creole style with drive-up parking. Offering 3 office/condos for sale or lease $89,900 each.

A2 features reception with adjoining small receptionist office, Large Interior/Windowed Office 1 or Conference, Office 2 Interior, Office 3 Windowed, 2 restrooms and lots of storage.

B2 features reception, 2 Offices all windowed with built -in, 3rd office/conference, Storage with built-in, breakroom and rr. Office is well appointed with chair-railing, all new neutral paint and carpet accented with white finishes.

Expenses are $225/mthly Association Dues. Association handles all upkeep of the roof, dumpster cost, parking, landscaping, exterior maintenance and pays Fire & Casualty Insurance. Each Condo owner handles their own Yearly taxes at $900.00 and any interior cost ie phone, internet, power, janitorial and water.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $902 (Annual)
Tax Value Land $50,000
Tax Value Improvements $61,900
Assessed Value - Total($) $114,900 (Annual)
Potential Rental Income $13,200 (Annual)
Gross Operating Income $13,200 (Annual)
Net Operating Income $9,598 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Mobile
County: Mobile
Taxing Authority: Mobile County Revenue Commission
Tax ID/APN: R022808341002015.002
Is Condo?: Yes
Zoning: B1
Property Located Between: Airport and Cottage Hill Rd
Property Visibility: Good
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 1,050 SF
Year Built: 1984
Construction/Siding: Brick
Exterior Description: Creole Style
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: B1
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Unit A-2 Magnolia Park Office Condo a Condo ACC to that certain declaration of condo together with exhibits thereto including bylaws of Magnolia Park Office Condo Unit Owners

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,290 84,293 182,808
Median Age: 37.46 36.13 36.92
Households: 6,300 36,157 74,216

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