STG Mobile, AL
1,694 SF | Industrial Building | Mobile, AL 36619 | $2,394,000 ($1,413/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,394,000
- Property Type
-
Industrial
- Price / Square Foot
- $1,413
Listing Contacts
Alexander Harrold
Verified Profile
- Property Info
Property Overview
Strong National Tenant – In 2022, XPO Logistics, Inc. (NYSE: XPO) divested its North American intermodal business to STG Logistics. XPO reported the intermodal unit had generated $1.2 billion of revenue in 2021. The divested operations (now considered STG Drayage) provides rail brokerage and drayage services; 48 locations and approximately 700 employees. Their leading U.S. drayage capacity of approximately 2,600 contracted independent owner-operators and network have access to an additional 25,000 drayage trucks as well as their long-standing steamship line relationships.
Strategic Port Location – STG is strategically located within the Port of Mobile to serve its intermodal/drayage operations. The Port of Mobile is ranked as one of the top Ports nationally in terms of trade volume and the scope of connectivity at the port allows distributors to reach 50% of the U.S. population within 48 hours of unloading their cargo.
Functional IOS Industrial / Absolute NNN – This newly developed fully secured/lit trucking yard features 112 trailer spaces and a ± 1,814 Sq. Ft. building on ± 5.34 Acres (0.78% Building/Lot Coverage Ratio) allowing for ample outdoor truck parking, storage, and future building expansion potential – quintessential IOS (Industrial Outdoor Storage). Furthermore, STG is operating under an Absolute NNN Lease with no landlord responsibilities and 2.50% Annual Rent Increases through the Initial Term and 3.00% Annual Rent Increases in the Option Periods.
Prime I-10 Location – The subject property is located adjacent to Interstate 10, the primary U.S East-West route that runs over 2,460 miles connecting California, Arizona, Texas, Louisiana, Mississippi, Alabama and Florida. The site’s proximity to the I-10 provides convenient access to nearby transportation hubs such as Brookley Aeroplex/Mobile International Airport.
Strategic Port Location – STG is strategically located within the Port of Mobile to serve its intermodal/drayage operations. The Port of Mobile is ranked as one of the top Ports nationally in terms of trade volume and the scope of connectivity at the port allows distributors to reach 50% of the U.S. population within 48 hours of unloading their cargo.
Functional IOS Industrial / Absolute NNN – This newly developed fully secured/lit trucking yard features 112 trailer spaces and a ± 1,814 Sq. Ft. building on ± 5.34 Acres (0.78% Building/Lot Coverage Ratio) allowing for ample outdoor truck parking, storage, and future building expansion potential – quintessential IOS (Industrial Outdoor Storage). Furthermore, STG is operating under an Absolute NNN Lease with no landlord responsibilities and 2.50% Annual Rent Increases through the Initial Term and 3.00% Annual Rent Increases in the Option Periods.
Prime I-10 Location – The subject property is located adjacent to Interstate 10, the primary U.S East-West route that runs over 2,460 miles connecting California, Arizona, Texas, Louisiana, Mississippi, Alabama and Florida. The site’s proximity to the I-10 provides convenient access to nearby transportation hubs such as Brookley Aeroplex/Mobile International Airport.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Truck Terminal
- Lot Size (sq. ft)
- 217,800 SF
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