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.


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


The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.