Foley Retail Center Investment
8388 AL-59 Foley, AL 36535
8388 AL-59, Foley, AL, 36535
$1,670,000
For Sale
$1,670,000
9,218 SF Palm Center For Sale - Foley, Alabama
Property Size9,910 SF
Lot Size1.10 Acres
Price / SF$168.52
Days on Market522
Property Features for 8388 AL-59
General Information
- Standard status
- Active
- Property type
- Other retail properties, Individual retail properties, Shopping centers, Retail properties & Spaces
- Size
- 9,910 SF
- Net Rentable
- 9,015 SF
- Total Parking Spaces
- 54
- Elevators
- N/A
- Lot size
- 1.10 Acres
Building Details
- Year Built
- 2008
- Buildings
- 1
- Stories
- 1
Listing Office
(850) 564-0120
Listed by
Paul
(850) 564-0120
Added: Feb 10, 2025 Checked: Mar 16 at 9:06 am
Investment Insights
Based on property information with market context.
This 9,218 square foot shopping center is located in Foley, Alabama, within the rapidly growing Baldwin County. Situated on 1.0997 acres, the property is positioned one mile from major retailers such as Lowe's, Home Depot, and Chick-fil-A, and minutes away from Tanger Outlets and OWA Theme and Water Parks. The center features five stores and provides 55 parking spaces. With 153 feet of road frontage on Highway 59, the location benefits from a traffic count of 36,000 vehicles per day. The property currently generates rental income at $13.78 per square foot, which is below market rates of $16.00-$18.00 per square foot. Value-add opportunities include increasing rents, converting leases to NNN leases, and monetizing the monument sign, as well as the potential sale of the Lamar sign. The property has undergone recent renovations and is in excellent condition.
Local Financial Insights For Retail
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 | $166.5k | $16.80 |
| − Vacancy | −$14.2k | −$1.43 |
| EGI | $152.3k | $15.37 |
| − OpEx | −$45.7k | −$4.61 |
| NOI | $106.6k | $10.76 |
9,910 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,636 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.09M – $2.78M
NOI $166,821 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail properties & Spaces
Similar For Sale Nearby
FAQs
What type of property is this?
Other retail property - 9,218 SF Palm Center For Sale - Foley, Alabama
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.
