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Downtown Foley Commercial Property

106 W Myrtle Ave Foley, AL 36535

106 W Myrtle Ave, Foley, AL, 36535
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Prime commercial property in downtown Foley, offering diverse possibilities.

Property Size4,351 SF
Price / SF$149.39
AddedMay 20
Days on Market58
Last RefreshJul 15 at 3:30 pm

Property Features for 106 W Myrtle Ave

General Information

Standard status
Active
Size
4,351 SF
Property subtype
OFFICE

Listing office Re/Max On the Coast

Listing date May 20, 2026

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Re/Max On the Coast


Investment Insights

Based on property information with market context.

Located in downtown Foley, at the corner of W Myrtle Ave and S Alston St, this commercial property offers a central location with visibility and accessibility in a growing business district. The 4,351-square-foot building, previously used as a medical office, presents an opportunity for investors, developers, or business owners to renovate the existing structure. Zoned B-1 (Central Business District), the property allows for retail, dining, office, service, hospitality, entertainment, and mixed residential/commercial concepts. This downtown location provides possibilities for projects or investments.

Key Highlights

  • Prime downtown Foley location at the corner of W Myrtle Ave and S Alston St with excellent visibility and easy access.
  • Zoned B‑1 (Central Business District) allowing for retail, dining, office, service, hospitality, entertainment, and mixed residential/commercial uses.
  • 4,351‑square‑foot building suitable for renovation and redevelopment.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $96.6k $22.20
− Vacancy −$9.9k −$2.26
EGI $86.7k $19.94
− OpEx −$34.7k −$7.97
NOI $52.0k $11.96
4,351 SF · lease $22.20/SF/yr · vacancy 10.20% · expense 40.00%

Alternative Uses

Best Use
Healthcare Medical
$743.5K
$650.6K – $867.4K (±1% cap)
NOI $52,044 @ 7.0% cap · market cap 8.01%
Second Best
Office B
$725.0K
$634.4K – $845.8K (±1% cap)
NOI $50,750 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.05M
$915.5K – $1.22M (±1% cap)
NOI $73,243 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

South Baldwin Children's ... Pediatrician Reed Rusty MD Pediatrician Kelsey Smith Physician Dr. Sallyann Ganpot Pediatrician Dr. Warner Wiggins Pediatrician

Suggested Use

Parking Lot & Garage (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Catering Service (Bike/Boat/Book/etc) Store Pet Grooming Service Tech Support Center (Bike/Boat/Book/etc) Store Computer & Electronic Repair Tanning Salon

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

Similar Off Market Nearby

  • Dykes Veterinary Clinic — 512 W Laurel Ave, Foley, AL 36535

FAQs

What type of property is this?
Medical Office Space - Prime commercial property in downtown Foley, offering diverse possibilities.
Where is this medical office space located?
The property is located at 106 W Myrtle Ave Foley, AL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime downtown Foley location at the corner of W Myrtle Ave and S Alston St with excellent visibility and easy access.; Zoned B‑1 (Central Business District) allowing for retail, dining, office, service, hospitality, entertainment, and mixed residential/commercial uses.; 4,351‑square‑foot building suitable for renovation and redevelopment.
Contact an agent
(251) 213-8504 Call to check price and availability
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