1971 Government St - Freestanding FOR SALE


Mobile, AL 36606- Rickarby
$2,523,000 USD
949-412-1616
1971 Government St, Mobile, AL for Sale
$2,523,000 USD
Freestanding - FOR SALE
1/11
null | 7% Cap Rate

1971 Government St
Mobile, AL 36606
Rickarby


HIGHLIGHTS

  • CSL Plasma, a strong investment-grade tenant and subsidiary of $14.8B global biotech leader CSL, operates 350+ locations with 17,000+ employees.
  • Long-term lease with over 9 years remaining and two 5-year renewal options offers up to 19 years of stable, secure income.
  • Triple net lease with CSL Plasma offers ease of management, tenant-covered expenses, and is ideal for passive investors and 1031 exchanges.
  • Lease includes 10% rent increases every 5 years, offering growing income, increased cash flow, and inflation protection.
  • Multi-tenant retail investment offers tax benefits through depreciation and cost segregation. Adjacent to 14,000-students University of South Alabama
  • Centrally located in Mobile, AL MSA, the site serves Southwest Alabama and Southeast Mississippi, with 112,000+ residents and 48,000+ household nearby

OVERVIEW

ALABAMA BROKER OF RECORD.... SPENCER AKIN....License No. 000083270-0 Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in a 2-Tenant retail building anchored by CSL Plasma. Located in the heart of Mobile, Alabama, this investment offers stable cash flow, minimal landlord responsibilities, and strong real estate fundamentals in a central, high-traffic location. The property is anchored by CSL Plasma, a wholly owned subsidiary of CSL—a global biotechnology leader with annual revenues exceeding $14.8 billion as of 2024. CSL Plasma is one of the world’s largest collectors of human plasma, operating over 350 locations across the U.S. and Europe with a workforce of more than 17,000 employees. As a mission-driven enterprise specializing in life-saving therapies for immune diseases, vaccines, and iron deficiencies, CSL represents a highcredit, investment-grade tenant ideal for long-term ownership. CSL Plasma signed a 15-year lease commencing in 2019, with the current term running through December 2034. The lease includes two (2), five (5)-year renewal options, offering up to 19 years of total potential lease term. With 10% rental increases every five years, the lease structure ensures a growing income stream, acts as a hedge against inflation, and supports long-term value appreciation. CSL Plamsa is structured as a Triple Net (NNN) lease, with the tenant responsible for property taxes, liability insurance, and common area maintenance expenses including landscaping and parking lot. The minimal landlord obligations make this asset ideal for passive investors or those seeking a 1031 exchange. The asset also presents strong tax advantages through enhanced property depreciation and cost segregation analysis, further bolstering investment returns. As a multi-tenant retail asset, it delivers additional flexibility and long-term utility. Strategically located at 1971 Government Street, the property lies adjacent to the University of South Alabama, the Gulf Coast’s flagship university with 14,000+ students and 5,500+ employees supporting two hospitals and a cancer research center. This prime location is central to the Mobile MSA, which serves a broad trade area extending into Southwest Alabama and Southeast Mississippi. Mobile is the fourth-largest municipality in Alabama, home to the state’s only saltwater port and a key logistics hub. The immediate area boasts 112,000+ residents and over 48,000 households within a 5-mile radius, ensuring continued demand and relevance for CSL’s services in the local and regional economy.

FOR SALE DETAILS

PRICE

$2,523,000 USD

PRICE/SF

$495 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CSL Plasma

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

2.5 AC

LAND SF

108,900 SF

ZONING

-

APN/PARCEL ID

29-10-28-2-001-058

ASK ABOUT THIS PROPERTY

Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

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Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.