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    Keller and us 98 road Fairhope, AL 36532

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $1.84 SF/Yr

    High-growth Baldwin County location; excellent development potential.

    Lot size:
    844,401 SF

    Property Features for Keller and us 98 road

    General Information

    Property type
    Other land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    844,401 SF
    USF (Usable sq. ft)
    844,401 SF
    Elevators
    N/A
    Total Rate
    129474.82

    Amenities

    Overview

    Prime Fairhope Development Land

    This 19-acre property is located at the northeast corner of US-98 and Keller Road, offering visibility and accessibility. Situated midway between Fairhope and Foley, it provides access to both cities within a 20-minute drive. The site, encompassing 844,401 square feet, allows for commercial, industrial, or agricultural developments. Baldwin County is one of the fastest-growing counties in Alabama and the nation. The property is available for lease at an annual rate of $50,000 to $80,000 per acre, which translates to a monthly rate of $1.84 per square foot. The location along Alabama's Coastal Connection (US Highway 98) ensures high traffic volume and exposure.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    HighLights

    • High‑visibility 19‑acre site at US‑98 & Keller Rd intersection in rapidly growing Baldwin County, AL.
    • Exceptional development or agricultural potential, offering easy access to Fairhope and Foley.
    • Annual lease rates range from $50,000 to $80,000 per acre.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Fairhope
    State
    Alabama
    Longitude
    -88.180506
    Latitude
    30.582053

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    FAQs

    What type of property is this?
    Land - High-growth Baldwin County location; excellent development potential.
    Where is this land located?
    The property is located at Keller and us 98 road Fairhope, AL.
    What is the lease rate?
    The lease rate is $1.84 SF/Yr.
    What are key features of this property?
    This property features:
    (251) 471-1000
    Request Owner's contact information
    Keller and us 98 road Fairhope, AL 36532
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Keller and us 98 road Fairhope, AL 36532
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    We can help!
    Listing Contact
    Paul Salter
    (251) 471-1000
    Learn more
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