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    3820 - 3840 AL-59 Foley, AL 36535

    Source: https://www.saltercompany.com
    For Sale
    $2,900,000

    High-traffic Foley retail center, 13 tenants, 100% occupancy.

    Property size:
    12,000 SF

    Description

    Added:
    Feb 11, 2025
    Days on Market:
    300
    Parkway Plaza, a thriving 12,000 square foot retail center, is ideally situated on Highway 59 in Foley, Alabama. This attractive strip mall boasts thirteen individual rental spaces, ranging in size from 450 to over 2,000 square feet, providing a diverse tenant mix. Currently operating at 100% occupancy, this property benefits from long-term leases, ensuring consistent income generation. The property features ample parking for customer convenience and an income-producing sign located on the south end. Recent improvements include a complete roof replacement in 2021 and new flooring installed the same year. Further enhancing the property's appeal, all parking lot lighting was upgraded to energy-efficient LED fixtures in 2022. The property sits on 1.08 acres and presents a compelling investment opportunity in a high-traffic area. This turnkey operation offers immediate income and potential for future growth. The asking price is $2,900,000.

    Property Features for 3820 - 3840 AL-59

    General Information

    Property type
    Shopping centers
    Square Feet
    12,000 SF
    Price / Square Foot
    $241
    Elevators
    N/A
    Net Rentable
    12,000 SF
    Lot Size
    47,157 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    13

    HighLights

    • High‑traffic Foley location on Highway 59.
    • Thirteen tenant spaces, ranging from 450 to over 2,000 square feet.
    • Recently renovated with new roof, flooring, and LED parking lot lighting.
    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?
    Shopping center - High-traffic Foley retail center, 13 tenants, 100% occupancy.
    Where is this shopping center located?
    The property is located at 3820 - 3840 AL-59 Foley, AL.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: High-traffic Foley location on Highway 59.; Thirteen tenant spaces, ranging from 450 to over 2,000 square feet.; Recently renovated with new roof, flooring, and LED parking lot lighting.
    (850) 564-0120
    Request Owner's contact information
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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

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    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
    3820 - 3840 AL-59 Foley, AL 36535
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