1550 Government St - Supermarket FOR SALE


Mobile, AL 36604- Midtown Mobile
$7,024,966 USD
1550 Government St, Mobile, AL for Sale
$7,024,966 USD
Supermarket - FOR SALE
1/2
null | 5.9% Cap Rate

1550 Government St
Mobile, AL 36604
Midtown Mobile


HIGHLIGHTS

  • Recent 11-year lease extension
  • 105,426 people live within a five-mile radius
  • Long and successful grocery operating history since 1986
  • Corporate guarantee from Aldi, Inc.
  • Located along Government Street (26,200 VPD)
  • Six-figure average household income within one mile ($105,708)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Aldi property positioned within the Mobile MSA in Mobile, Alabama. In September 2024, Aldi assumed the lease for this location from Winn-Dixie who has been successfully operating since 1986. At the time of assumption, Aldi signed a new 11-year extension through May 2035 demonstrating commitment. The lease is absolute triple net which presents no landlord responsibilities. The lease features four 5-year renewal options and a new corporate guaranty from Aldi. In the coming months, the store façade will be renovated to reflect ALDI branding. The 42,510-square-foot building benefits from its location along Government Street, which experiences over 26,200 vehicles per day. Situated in a densely populated area, the property serves a community of over 105,000 people within a five-mile radius. Additionally, the average household income within one mile is $105,708. The property is surrounded by a strong tenant mix, including Walgreens, Starbucks, Sherwin-Williams, Fresenius, Firestone, and more. It is also in proximity to Murphy High School, with 2,000 students, and Ladd-Peebles Stadium, a 40,000-seat college football venue. ALDI, founded in 1946 in Germany, is a leading global grocery retailer with over 2,000 U.S. stores and more than 11,000 locations worldwide. Known for its streamlined, cost-effective approach, ALDI offers high-quality, private-label products at competitive prices, attracting a loyal customer base. The company is rapidly expanding across the U.S., with plans to reach 2,500 stores by 2024, emphasizing renovated stores and enhanced e-commerce. ALDI is also committed to sustainability, aiming for 100% sustainable packaging for its exclusive brands by 2025.

FOR SALE DETAILS

PRICE

$7,024,966 USD

PRICE/SF

$165 USD /SF

CAP RATE

5.9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ALDI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

195

LAND DETAILS

LAND ACRES

7.12 AC

LAND SF

310,147 SF

ZONING

B2

APN/PARCEL ID

29-10-21-4-001-027

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info

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Randy BlanksteinThe Boulder GroupMore Info

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