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    8388 AL-59 Foley, AL 36535

    Source: https://www.saltercompany.com
    For Sale
    $1,670,000

    Thriving Foley location, high-traffic area.

    Property size:
    9,910 SF

    Description

    Added:
    Feb 10, 2025
    Days on Market:
    300
    This exceptional 9,218 square foot shopping center, situated on 1.0997 acres in Foley, Alabama's rapidly growing Baldwin County, presents a compelling investment opportunity. Located just one mile from major retailers like Lowe's, Home Depot, and Chick-fil-A, and minutes from Tanger Outlets and OWA Theme and Water Parks, this property boasts excellent visibility and accessibility. The center features five stores and ample parking (55 spaces). With 153 feet of road frontage on Highway 59 and a 36,000 vehicles per day traffic count, this location ensures high consumer traffic. Currently, the center generates rental income at $13.78 per square foot, significantly below market rates of $16.00-$18.00 per square foot, offering immediate potential for increased revenue. Further value-add opportunities exist through lease conversions to NNN leases, monetizing the monument sign, and the potential sale of the Lamar sign. The property is in excellent condition, having undergone recent renovations. All information should be independently verified by the buyer.

    Property Features for 8388 AL-59

    General Information

    Property type
    Other retail properties
    Square Feet
    9,910 SF
    Price / Square Foot
    $168
    Total Parking Spaces
    54
    Elevators
    N/A
    Net Rentable
    9,015 SF
    Lot Size
    47,903 SF

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    1

    HighLights

    • 9,218 sq ft shopping center in Foley, Alabama's rapidly growing Baldwin County.
    • Prime location near major retailers like Lowe's and Home Depot, plus Tanger Outlets.
    • Significant value‑add potential: increase rents, convert leases, and monetize signage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail properties

    Map

    City
    Foley
    State
    Alabama

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    FAQs

    What type of property is this?
    Other retail property - Thriving Foley location, high-traffic area.
    Where is this other retail property located?
    The property is located at 8388 AL-59 Foley, AL.
    What is the asking price?
    The asking price for this property is $1,670,000.
    What are key features of this property?
    This property features: 9,218 sq ft shopping center in Foley, Alabama's rapidly growing Baldwin County.; Prime location near major retailers like Lowe's and Home Depot, plus Tanger Outlets.; Significant value-add potential: increase rents, convert leases, and monetize signage.
    (850) 564-0120
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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
    8388 AL-59 Foley, AL 36535
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