Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3820-3840 Al-59 Foley, AL

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,900,000

    Fully occupied 12,000 SF strip mall on Highway 59.

    Property size:
    12,000 SF
    Lot size:
    1.08 Acres

    Property Features for 3820-3840 Al-59

    General Information

    Size
    12,000 SF
    Lot size
    1.08 Acres

    We can help!

    Listing Contact
    Heather Harp
    Heather Harp
    Source: Moodyscre

    Listing Agent: Heather Harp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Thriving Strip Mall on Highway

    Parkway Plaza is a strip mall strategically positioned along Highway 59. The complex comprises 13 rental spaces, ranging from 450 to over 2000 square feet, creating a versatile retail landscape. The property has a 100% occupancy rate and a tenant mix. This 12,000 square foot property has long-term lessees, easy access, and ample parking. An income producing sign is located on the south end of the property. The building's roof was replaced in 2021, and new flooring was installed the same year. Additionally, all parking lots were upgraded with LED light fixtures in 2022.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Map

    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.69945
    Latitude
    30.3929

    Nearby Similar for Sale

    • $900,000
      2.03 Acres

      Foley Industrial Space For Sale

      Prime commercial space in Foley near Highway 59.
      339 Berry Ave E, Foley, AL 36535
      View Details
    • $320,000

      Luxury RV Lot with Casita

      Premium RV lot with custom casita at Bella Terra Resort.
      464 Portofino Loop, Foley, AL 36535
      View Details
    • $139,000

      Luxury RV Resort Lot

      Upscale RV resort lot with lakefront views and premium amenities.
      709 Lago Way, Foley, AL 36535
      View Details
    • $155,900
      0.07 Acres

      Improved RV Lot in Foley

      RV lot with concrete pad, patio, gazebo, and storage building.
      21240 Miflin Rd, Foley, AL 36535
      View Details
    • $289,500

      Luxury RV Lot with Casita

      Turn-key RV lot with custom casita and covered patio.
      504 Portofino Loop, Foley, AL 36535
      View Details
    • $140,000

      Luxury RV Lot with Gazebo

      Improved RV lot at Bella Terra RV Resort with included golfcart.
      325 Portofino Loop, Foley, AL 36535
      View Details
    • $154,900

      Luxury RV Lot Near Gulf Coast

      Well-maintained RV lot with custom pavilion near Gulf Coast beaches.
      612 Sereno St, Foley, AL 36535
      View Details
    • $239,500

      Luxury RV Lot with Casita

      Premium waterfront RV lot with casita and outdoor kitchen.
      737 Lago Way, Foley, AL 36535
      View Details
    • $1,349,000
      8,468 SF

      Foley Multifamily Investment Opportunity

      Ten remodeled apartment units near Highway 59 in Foley, Alabama.
      606 N Alston St, Foley, AL 36535
      View Details
    • $155,000

      Lakefront RV Lot in Foley

      Premium RV lot with lake views and resort amenities.
      637 Sereno St, Foley, AL 36535
      View Details
    • New
      $139,000
      0.07 Acres

      Improved RV Lot in Foley, AL

      RV lot with amenities near OWA Amusement Park and beaches.
      3065 Griswold Blvd, Foley, AL 36535
      View Details
    • New
      $132,000
      0.07 Acres

      Improved RV Lot Near Attractions

      RV lot with amenities near amusement parks and beaches.
      3061 Griswold Blvd, Foley, AL 36535
      View Details

    FAQs

    What type of property is this?
    Strip mall - Fully occupied 12,000 SF strip mall on Highway 59.
    Where is this strip mall 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: - 100% Occupancy Rate: Demonstrates strong and consistent income generation.; - Strategic Location: Positioned along Highway 59, offering high visibility and accessibility.; - Versatile Retail Landscape: Comprises 13 rental spaces ranging from 450 to over 2000 sqft, attracting a diverse tenant base.
    (251) 533-6677
    Request Owner's contact information
    3820-3840 Al-59 Foley, AL
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3820-3840 Al-59
    Foley, AL
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    3820-3840 Al-59 Foley, AL
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Heather Harp
    Heather Harp
    Real Estate License ID: new
    (251) 533-6677
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.