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    1500 S Mckenzie St Foley, AL 36535

    Source: https://www.saltercompany.com
    For Sale
    $1,707,085

    High-traffic, net-leased seafood restaurant.

    Property size:
    23,208 SF

    Description

    Added:
    Feb 6, 2025
    Days on Market:
    305
    This exceptional investment opportunity presents a 23,208-square-foot Shrimp Basket restaurant located at 1500 S McKenzie St, Foley, AL 36535. The property sits on a 0.537-acre lot and benefits from a high-traffic location with 36,500 cars passing daily. This is one of 18 units in a corporate-owned seafood chain, Artistry Restaurant Group. The restaurant features outdoor seating, a key element of the Shrimp Basket brand. The current lease commenced August 1, 2016, and extends until July 31, 2030, representing 8 years remaining on a 14-year term. The property's strategic location near Tanger Outlets and the Foley Sports Tourism Complex provides significant exposure to a large customer base. This is a rare opportunity to acquire a well-established, net-leased restaurant in a thriving retail area. The asking price is $1,707,085. This property offers a strong investment potential due to its established tenant, long-term lease, and prime location. The property is zoned for commercial use. Further details are available upon request.

    Property Features for 1500 S Mckenzie St

    General Information

    Property type
    Restaurants
    Square Feet
    23,208 SF
    Price / Square Foot
    $73
    Elevators
    N/A
    Lot Size
    23,392 SF

    Building Details

    Year Built
    1991
    Buildings
    1
    Stories
    1

    HighLights

    • Prime Foley, AL location with 36,500 daily passing cars.
    • Strong 18‑unit seafood chain tenant with a long‑term lease.
    • Established restaurant with outdoor seating in high‑traffic area.
    Insight Report Location Intelligence

    Current Use by Public Records

    Shrimp Basket Seafood Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    State
    Alabama
    Longitude
    -87.683935
    Latitude
    30.389966

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    FAQs

    What type of property is this?
    Restaurant - High-traffic, net-leased seafood restaurant.
    Where is this restaurant located?
    The property is located at 1500 S Mckenzie St Foley, AL.
    What is the asking price?
    The asking price for this property is $1,707,085.
    What are key features of this property?
    This property features: Prime Foley, AL location with 36,500 daily passing cars.; Strong 18-unit seafood chain tenant with a long-term lease.; Established restaurant with outdoor seating in high-traffic area.
    (850) 564-0120
    Request Owner's contact information
    1500 S Mckenzie St Foley, AL 36535
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    Realmo Value Estimation

    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.

    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.

    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
    1500 S Mckenzie St Foley, AL 36535
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