Foley Medical Office Building For
For Sale
$2,800,000
100 Greentree Ln, Foley, AL 36535
Medical Park Office for Sale – Prime Location off HWY 98
Property Size14,613 SF
Lot Size1.98 Acres
Price / SF$191.61
Days on Market561
Property Features for 100 Greentree Ln
General Information
Standard status
Active
Property type
Medical Office Space, Medical centers, Medical space, Office Spaces, Healthcare properties
Size
14,613 SF
Net Rentable
12,765 SF
Class
C
Total Parking Spaces
32
Elevators
N/A
Lot size
1.98 Acres
Building Details
Year Built
2011
Buildings
1
Stories
2
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 3, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This two-story medical office building, constructed in 2011, offers 14,613 square feet of space on a 1.98-acre lot in Foley, Alabama. The building provides 12,765 square feet of rentable space. It is located off Highway 98 in Baldwin County. The building has framed construction and includes 32 parking spaces. The property is located within a federally designated Opportunity Zone, offering potential tax advantages for investors. The location provides easy access to major roadways. The building is suitable for a single-tenant medical practice or group. The property is located near HWY 98.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$174,791
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,495,820
$3.5M
Cap Rate 7%
$2,497,014
$2.5M
Cap Rate 9%
$1,942,122
$1.9M
Market Conditions
NOI Build-Up for 14,613 SF
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.
Gross rent
$324.4K $22.20/SF
− Vacancy
−$33.1K −$2.26/SF
EGI
$291.3K $19.94/SF
− OpEx
−$116.5K −$7.97/SF
NOI
$174.8K $11.96/SF
Area
Baldwin County, AL
Vacancy
10.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,495,820
Cap Rate 7%
$2,497,014
Cap Rate 9%
$1,942,122
Alternative Uses
Best Use
Healthcare Medical
$2.50M
$2.18M – $2.91M
NOI $174,791 @ 7.0% cap · market cap 6.24%
Second Best
Office B
$2.43M
$2.13M – $2.84M
NOI $170,446 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,989 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical Park Office for Sale – Prime Location off HWY 98
Where is this medical office space located?
The property is located at 100 Greentree Ln Foley, AL.
What is the asking price?
The asking price for this property is $2,800,000.
