11.52 acres retail land available in mobile, al
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Development Opportunity Mobile, Alabama
The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of considering the acquisition of this Investment Property and is not to be used for any other purpose or made available to any other person without the express written consent of Prudential Cooper & Co., Inc. The material is based in part upon information obtained from the Seller and in part upon information obtained by Prudential Cooper & Co., Inc. from sources they deem to be reliable. Summaries contained herein of any legal documents are not intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Prospective purchasers should make their own investigations, projections, and conclusions. It is expected that prospective investors will conduct their own independent due diligence concerning the Property, including such engineering inspections as they deem necessary to determine the condition of the Property and the existence or absence of any potentially hazardous material used in the construction or maintenance
of the building or located at the land site. No representations expressed or implied are made as to the foregoing matters by Prudential Cooper & Co., Inc.
28+/- Acres
Prudential Cooper & Co., Inc., as Exclusive Agent, is pleased to present the following Development Opportunity for sale. The following pages contain the information needed for the sale of this property, and we encourage you to contact us to discuss it in more detail.
Angela McArthur Senior Sales Associate Retail Investment Sales (251) 639-4007 OFC (251) 300-3377 Direct Line (251) 591-3168 Cell [email protected] Tony Cooper, CCIM Vice-President Qualifying Broker (251) 639-4007 OFC (251) 300-3371 Direct Line (251) 422-8666 Cell [email protected]
Parcel Property Frontage Sq Ft +/- Usable *
Price Per Acre Price per square foot
Price
A
16 Acres +/-
850’ +/-
Pending
Pending
Pending
B* 11.52 450 +/- 8.8 $173,611.11 $3.99 $2,000,000
* Area contains a floodway consisting of 3.63 acres, area lying outside of the floodway consist of 5.00 acres ac-cording to a study conducted by Rester and Coleman Engineers, Inc. without enclosing the floodway. According to their calculations after containing the floodway a net gain of 1.93+/- can be achieved. All reports are available and are subject to verification and review by buyer at buyers risk.
Mobile, Al. THE OPPORTUNITY
Mixed use development opportunity on Airport Blvd.
Total Size: 11.52 +/- Acres
LOCATION North side of Airport Blvd. just East of Schillinger Rd.
DEVELOPMENT HIGHLIGHTS
450 +/- FF on Airport Last large development site remaining on Airport Blvd. Strong Location on a major thoroughfare near a signalized intersection
with excellent visibility and access. 33,000 +/- CPD 103,526 Est. Pop—5 Mile $70,675 Ave. HH Inc.—5 Mile Site is poised for Development
Utilities: Natural Gas—8 in Main Water—12 in Main Sewer—8 in located to the front of the property Challenged by a floodway dividing the property in two parcels, previous engineering and reporting has identified the following solution to development.
Development can be divided into 2 parcels: Parcel B—Ideal for multi-family or business park Parcel A-Ideal for Large Retail
ZONING— Property is located in the city and is zoned B3
Community business districts- These districts are composed of land and structures used to furnish, in addition to the retail goods and services found in neighborhood business districts, such less frequently needed goods as clothing and automobiles--the wider range of retail goods and services to satisfy all the household and personal needs of the resi-dents of a group or community of neighborhoods. Light or heavy distribution uses may be allowed. Usually located on a thoroughfare or near the intersection of two (2) thoroughfares, these districts are large and are within convenient driv-ing distance of the group of neighborhoods they will serve. The district regulations are designed to permit the develop-ment of the districts for their purpose in a spacious arrangement.
Parcel B Parcel A
Pending
Parcel B
Consisting of 11.52 Acres with 8.8 Acres usable, site work will leave approximately 7.8 acres develop-able. Boasting 450 +/- Front Feet this land is poised for development in rapidly growing West Mobile. The natural environment created by the wetlands in the back can be utilized effectively as walking paths and amenities for a multi-living development or as retention in a business development. Out-parcel availability will boost frontage usage as leased property.
450’
1,24
6’ +
/-
450’
Angela McArthur Senior Sales Associate Retail Investment Sales (251) 639-4007 OFC (251) 300-3377 Direct Line (251) 591-3168 Cell [email protected]
Tony Cooper, CCIM Vice-President Qualifying Broker (251) 639-4007 OFC (251) 300-3371 Direct Line (251) 422-8666 Cell [email protected]
Parcel A
Consisting of 17.9 Acres +/- with 16.1 Acres +/- usable, site work will leave approximately 14.1 acres /- developable. Boasting 980 +/- Front Feet this land is poised for development in rapidly growing retail corridor. With an estimated 123,000 sq. ft. of site coverage and above average rents of $17—$22 per square foot, this land is last parcel of size avail-able on Airport Blvd. Out-parcel availability will boost frontage usage as leased property.
661’
900 +/-
980’
Demographics
Radius Est. ‘07 Pop. Avg. HH Inc. 1 Mile 4,406 $73,033 3 Miles 38,104 $67,880 5 Miles 103,526 $70,675
33,000 CPD
Angela McArthur Senior Sales Associate Retail Investment Sales (251) 639-4007 OFC (251) 300-3377 Direct Line (251) 591-3168 Cell [email protected]
Tony Cooper, CCIM Vice-President Qualifying Broker (251) 639-4007 OFC (251) 300-3371 Direct Line (251) 422-8666 Cell [email protected]
Pendin
g
Location Map Property is located in the City of Mobile on Airport Blvd. West of the Inter-state in the rapidly growing “West Mobile” submarket.
5.85 Miles to I-65 9.59 Miles to I-10 via Schillinger Rd.
TOPOGRAPHY MAP
Parcel B
Parcel A
3.6
AC
+/-
AERIAL