6512 Grelot RdMobile, AL 36695

This exceptional 9.3-acre property in Mobile, Alabama, presents a unique multifamily development opportunity. Currently featuring a 1,386 square foot office building with an attached two-bedroom, one-bathroom apartment, the site also includes two substantial group homes, a fenced and lighted swimming pool, a basketball court, two large storage sheds/garages, a brick privacy wall, and a covered picnic pavilion. The property boasts paved roads and ample parking (5 spaces). Zoned R-3 for multifamily use, this location offers significant potential for redevelopment. The asking price is $2,000,000, translating to $214,592 per acre and $4.93 per square foot. The existing structures provide immediate income potential or could be repurposed within a larger development plan. This prime real estate is situated at 6512 Grelot Rd, Mobile, AL 36695, offering convenient access to Mobile County amenities. The property's extensive amenities and existing infrastructure make it an attractive investment for developers seeking a turnkey project with significant upside potential. The one-story buildings are situated on a large lot, providing ample space for expansion and future development. This is a rare opportunity to acquire a substantial parcel of land in a desirable location with existing structures and significant development potential.