Investment Property For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30272795
Property Subtypes: Free-Standing Building, Vehicle Related
Building Size (RSF): 31,000 SF
Gross Building Area: See Agent
Sale Price: $799,000
Unit Price: $25.77 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Palmer's Airport Hyundai
Sale Terms: Cash to Seller
Cap Rate: 6.25%
Average Occupancy Rate: 100
Last Updated: 10/15/2019

Overview / Comments

Rare opportunity to acquire this single tenant, Mobile, Alabama Palmer's Airport Hyundai car dealership investment. The offering provides an investor the opportunity to purchase a stable income stream with below market rent, a recently remodeled building at below replacement cost and excellent local credit with a long term history at the site. The tenant has committed to the site by recently remodeling the exterior of the building, resurfacing the parking lot, upgrading the exterior lighting and has acquired adjacent land which has been developed to accommodate Hyundai's need to carry additional inventory. Additionally, there are plans to upgrade the interior of the facility as well. Property is subject to a ground lease. Please contact listing agent for financials and other pertinent information.

Attachments & Media

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: 2804192000004.000
Retail Clientele: General, Family, Business
Property Located Between: Schillinger Road and Cody Road
Property Visibility: Excellent
Tenancy: Single Tenant

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,817 60,428 129,553
Median Age: 34.55 35.43 36.72
Households: 1,206 24,554 51,774

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