Capital City Residential Portfolio

For Sale

15 Mimosa Drive, Montgomery, AL 36109

This Montgomery property for sale is located at 15 Mimosa Drive. The current listed sale price for Capital City Residential Portfolio is $2,750,000. Capital City Residential Portfolio is situated on a lot that is 1 acre in size.

Contacts

broker

Steven Paulsen

Open Market CRE

Property Details

  • Property Type Multi-Family
  • Property Size 31,770 SF
  • Units 23
  • Lot Size 1 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Multi-Tenant
  • Date Updated Nov 8, 2024
Montgomery, Alabama, centrally located in the Sun Belt region, offers an advantageous location for businesses and residents alike. Positioned 153 miles from Atlanta, Georgia International Airport via Interstate 85, it provides convenient access to major transportation hubs. The city is also within a short drive of Birmingham, located 92 miles to the north, and the port city of Mobile, situated 169 miles away. Moreover, Montgomery's proximity to renowned Gulf Coast beaches, such as Pensacola, Navarre, and Destin, allows for easy weekend trips to the scenic shores of the Gulf of Mexico. As the capital of Alabama, Montgomery boasts a vibrant economic environment that has garnered multiple Chamber of Commerce awards for excellence. The city's "Imagine a Greater Montgomery" initiative showcases its commitment to shaping a new vision for the future. Montgomery's economic development strategy focuses on nurturing regional talent, diversifying the economy, transforming the city's image, and fostering a diverse and empowered community. The area is driven by several key economic factors, including Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution centers, the Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transportation and logistics, Dow Chemical, and Conner Industries, META Data Centers, among others. Additionally, the Port of Mobile, the ninth largest port in the nation, contributes significantly to the state's economic growth. The port facilitates the export of various goods, including containers, coal, laminate, flooring, iron, steel, frozen poultry, chemicals, soybeans, and lumber products. Montgomery's unwavering focus is on attracting large corporations, capitalizing on its diverse and highly skilled workforce. The city is dedicated to expanding air services, improving passenger traffic, and enhancing overall travel experience. Major initiatives supporting this vision are already underway, fortified by robust economic policies that include low taxes and attractive incentives, ultimately yielding greater economic benefits for businesses and residents alike.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • Highly Aggressive Returns | Well Above Market
  • Value Add Opportunity | Further Renovations Strategy
  • Priced Well Below Replacement Value | $87 Per Sq Foot
  • Attractive Day One Returns With Upside
  • Fully Occupied Section 8 Voucher Rental Portfolio
  • Tenants Maintain Lawn Service and Pest Control
  • Montgomery Alabama is Capital City of Alabama
  • Award Winning Chamber of Commerce | Great Place to do Business
  • Strategic Ability to Sell Individually Into Historically Strong Single Family Market
  • Alabama Historically Low Real Estate Tax State
  • Notable Economic Drivers | Hyundai Plant, Maxwell-Gunter AF Base, META Data Center,
  • State Capitol of Alabama, Alabama State University, Amazon, Alfa Insurance

Getting around

  • 65/100

    Walk Score ®

  • 30/100

    Transit Score ®

  • 37/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Montgomery, AL
  • Neighborhood Downtown Montgomery
  • Zip Code 36109

Points of Interest

  • Circle K

    0.30 miles

  • BP

    0.58 miles

  • Exxon

    0.60 miles

  • Chevron

    1.28 miles

  • Blink

    1.45 miles

  • Citgo

    1.76 miles

  • Entec

    2.03 miles

  • Z-Tec

    2.04 miles

  • Murphy USA

    2.06 miles

  • Pacecar

    2.08 miles

  • One Commerce Street Parking

    0.35 miles

  • Chamber of Commerce Parking

    0.37 miles

  • Lot 5

    7.56 miles

  • Lot 1

    7.64 miles

  • DoubleTree by Hilton Hotel Montgomery Downtown

    0.30 miles

  • Staybridge Suites Montgomery - Downtown

    0.42 miles

  • SpringHill Suites

    0.48 miles

  • Renaissance Montgomery Hotel & Spa at the Convention Center

    0.50 miles

  • Embassy Suites Montgomery Hotel & Conference Center

    0.60 miles

  • Stay Lodge

    1.99 miles

  • Red Roof Inn Montgomery Midtown

    2.20 miles

  • Destiny Inn

    3.31 miles

  • America's Best Inns & Suites

    3.74 miles

  • Hilton Garden Inn Montgomery East

    3.78 miles

  • Walmart Supercenter

    2.17 miles

  • Base Exchange

    2.86 miles

  • Commissary

    2.91 miles

  • Walmart Neighborhood Market

    2.93 miles

  • ALDI

    5.16 miles

  • TJ Maxx

    5.31 miles

  • Eastdale Mall

    5.82 miles

  • Publix

    7.63 miles

  • Ross

    7.73 miles

  • Target

    7.76 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Steven Paulsen

Open Market CRE