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    3060 S Mckenzie St Foley, AL 36535

    For Sale
    $4,073,000

    Restaurant property with a long-term lease and expansion potential.

    Property size:
    7,128 SF
    Lot size:
    1.50 Acres

    Property Features for 3060 S Mckenzie St

    General Information

    Size
    7,128 SF
    Lot size
    1.50 Acres

    Source: SRS Real Estate Partners | Fort Lauderdale Agent Patrick Nutt

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

    Overview

    Established Restaurant Property For Sale

    This property is currently occupied by a restaurant tenant who recently signed a new 15-year lease, with options to extend for four additional 5-year periods, indicating a strong commitment to the location. The lease includes 10% rent increases every 5 years throughout the initial term and at the start of each option period. The tenant, First Watch (NASDAQ: FWRG), is a rapidly growing restaurant chain with over 540 locations in 29 states. The property has a size of 7,128 square feet and is located in Foley, AL.
    Insight Report Location Intelligence

    Current Use by Public Records

    Breakfast & diners

    Suggested Use

    Realty agency Restaurant Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6841297
    Latitude
    30.3694171

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    FAQs

    What type of property is this?
    Breakfast & diner - Restaurant property with a long-term lease and expansion potential.
    Where is this breakfast & diner located?
    The property is located at 3060 S Mckenzie St Foley, AL.
    What is the asking price?
    The asking price for this property is $4,073,000.
    What are key features of this property?
    This property features: - Brand new 15-year lease demonstrates tenant commitment.; - 10% rent increases every 5 years provide increasing income.; - Tenant is First Watch (NASDAQ: FWRG), a rapidly expanding restaurant chain.
    (954) 703-3600
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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

    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.

    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
    3060 S Mckenzie St Foley, AL 36535
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