Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1113 S US Highway 31 Bay Minette, AL 36507

    View on Map
    Picture of Restaurants at 1113 S US Highway 31, Bay Minette, AL
    For Sale
    $774,821

    2,344 SF Shrimp Basket Bay Minette Net Lease For Sale

    Property size:
    2,344 SF
    Lot size:
    0.36 Acres
    Price / SF:
    $330/SF
    Added:
    Feb 6, 2025
    Days on Market:
    447
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 1113 S US Highway 31

    General Information

    Standard status
    Active
    Property type
    Restaurants, Other retail properties, Individual retail properties, Retail properties & Spaces
    Size
    2,344 SF
    Elevators
    N/A
    Lot size
    0.36 Acres

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Company

    Listing date Feb 6, 2025

    Overview

    Seafood Restaurant Net Lease Opportunity

    This property is a 2,344 square foot restaurant located at 1113 S US Highway 31, Bay Minette, AL 36507. The property is part of an 18-unit seafood chain and sits on a 0.36-acre lot. The restaurant has a long-term net lease, which began August 1, 2016, and continues until July 31, 2030, with seven years remaining on the 14-year lease term. The restaurant includes an outdoor dining patio. The property's location on US Highway 31 has a high traffic count (AADT: 495).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail properties & Spaces

    Suggested Use

    Restaurant Building Supply Dental Office Auto Repair Shop Department Store Food Market Storage Facility Grocery & Convenience Store Garden Center Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bay Minette
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.776747
    Latitude
    30.864432

    Nearby Similar for Sale

    • $299,900
      3,466 SF

      Bay Minette Quadplex For Sale

      Multi-family quadplex in Bay Minette with recent upgrades.
      300 Mcmillan Avenue, Bay Minette, AL 36507
      View Details
    • $499,900
      1,400 SF

      Gulf Shores Parkway Commercial Building

      Updated 1,400 sq. ft. commercial building on corner lot.
      1903 US Highway 31, Bay Minette, AL 36507
      View Details
    • $199,900

      Remodeled Cottage Office in Bay Minette

      Office near courthouse with recent upgrades and ample parking.
      301 1st Street, Bay Minette, AL 36507
      View Details
    • $175,000

      Downtown Commercial Building For Sale

      Commercial building in downtown location, ideal for various businesses.
      122 N Hoyle Avenue, Bay Minette, AL 36507
      View Details
    • $1,250,000

      Bay Minette Commercial Property For Sale

      Prime commercial property with high visibility and accessibility on US Hwy 31.
      251 US Highway 31, Bay Minette, AL 36507
      View Details
    • $549,900
      2,481 SF

      2,481 SF Office Building on 6.5-acre Lot For Sale

      6.75-acre M2-zoned property with 2,481 SF building and versatile potential.
      720 S White Ave, Bay Minette, AL 36507
      View Details
    • $4,900,000
      4,800 SF

      7.58 Ac -.4 Miles From Novelis Plant w/ 4,800 SF metal bldg For Sale

      7.58 acres with metal building near Novelis plant.
      49313 Rabun Rd, Bay Minette, AL 36507
      View Details
    • $4,900,000
      4,800 SF

      7.58 Ac -.4 Miles From Novelis Plant w/ 4,800 SF metal bldg For Sale

      7.58 acres with metal building near Novelis plant.
      49313 Rabun Rd, Bay Minette, AL 36507
      View Details
    • $499,900
      1,392 SF

      Gulf Shores Parkway Commercial Building

      Updated 1,400 sq ft commercial building on corner lot.
      1903 US-31, Bay Minette, AL 36507
      View Details
    • $250,000
      5,395 SF

      5,395 SF Flexible Commercial Space in a Prime Location For Sale

      5,395 SF commercial property with extra lot in Bay Minette, AL.
      904 S US Highway 31, Bay Minette, AL 36507
      View Details
    • $965,000
      16,900 SF

      Bay Minette Hangar with Office

      Hangar with office, storage, and runway access in Bay Minette.
      12301 Airport Rd, Bay Minette, AL 36507
      View Details
    • $1,200,000
      1,565 SF

      1,530 SF Texaco For Sale/Lease

      Newly renovated gas station on 0.47 acres in Bay Minette, AL.
      415 D'Olive Street, Bay Minette, AL 36507
      View Details

    FAQs

    What type of property is this?
    Restaurant - 2,344 SF Shrimp Basket Bay Minette Net Lease For Sale
    Where is this restaurant located?
    The property is located at 1113 S US Highway 31 Bay Minette, AL.
    What is the asking price?
    The asking price for this property is $774,821.
    (850) 564-0120
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!