Satsuma
Real Estate
Local pays big bucks for buildings in Mobile
A local restaurant chain owner paid $3 million for the buildings at 358 and 360 Dauphin St., in Mobile, and plans to open a restaurant in the vacant commercial space, according to Realtors. Pratt Thomas of Merrill P. Thomas Co., represented the seller, an international company based in Australia. John Vallas of Vallas Realty worked for the buyer. The purchase features two commercial units on the ground floor and 8 apartment units above. The historic properties are part of the Lower Dauphin Street District and were revitalized in 2015 for an estimated $3 million. The properties are across from the Cathedral Basilica of the Immaculate Conception and Cathedral Plaza. Lupercalia Art Gallery occupies the other commercial unit.
Here’s where home prices are increasing the fastest in the Mobile area
Following the coronavirus pandemic, demand for real estate soared, causing home prices to skyrocket. And though rising interest rates have slowed the market over the last year, prices are still increasing in many places, including Mobile. Stacker used data from Zillow to determine the cities in the Mobile metro area...
A piece of Jimmy Buffett history hits the market
An out-of-town buyer paid $350,00 for a 5,500-square-foot warehouse on 5 acres on Bobby Lowe Road in Theodore and plans to use the land for a salvage yard, according to Pete Riehm of CRE Mobile. A Midtown Mobile property where singer songwriter Jimmy Buffett recorded his first songs has been...
Plan in works to convert downtown Mobile office tower to apartments
Plans are being drawn up to convert a 13-story downtown Mobile office building at the foot of Government Street to apartments, an executive at a commercial real estate company confirmed on Wednesday. Gavin Bender Sr., a broker and consultant at Bender Real Estate Group, confirmed that reports emerging on social...
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