Canadian Seller Sells ALDI-Occupied Retail Property In Mobile Alabama To Michigan Investment Firm For $6.3M
1550 Government Street
$6,300,000
$148/SF
Building Size
42,510 SF
Asset Type
Retail
Closing
Jul 17, 2025
About this deal
AI
A retail property located at 1550 Government Street in Mobile, AL, was recently sold. The asset, occupied by ALDI, spans 42,510 square feet and was sold for $6,300,000, which equates to approximately $148 per square foot. The property benefits from over 10 years remaining on its triple-net lease and is situated in a retail-rich environment, surrounded by additional retailers such as Walgreens, Dollar Tree, and Starbucks.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,300,000
- Square Footage: 42,510
- Address: 1550 Government Street
- Market: Mobile, AL
- PPSF: $148
- Seller: Canadian
- Buyer: Michigan-based investment firm
- Broker Representatives: Randy Blankstein & Jimmy Goodman - The Boulder Group
The transaction was arranged by The Boulder Group, a brokerage firm based in Chicago. The representatives for this deal were Randy Blankstein and Jimmy Goodman, who facilitated the sale between the Canadian seller and the Michigan-based investment firm. The successful transaction underscores the strategic positioning of the property within a vibrant retail market.
On the Map
$6,300,000
$148/SF
Retail
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Players
Mobile Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93