Corner Retail
For Sale
$499,900
1903 US Highway 31, Bay Minette, AL 36507
Commercial Sale, Bay Minette, AL
Property Size1,400 SF
Lot Size0.65 Acres
Price / SF$357.07
Days on Market154
Property Features for 1903 US Highway 31
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
WithinCorpLimits
Lot features
Level, Corner Lot
Directions
Heading N on Hwy 59 towards Bay Minette: property is on your R (immediately after red light) across from Coastal Community College.
Subdivision
Baldwin
Standard status
Active
APN
23-05-21-4-000-007.000
Lot size
0.65 Acres
Taxes and HOA fees
Tax Description
150 X 190 BEG AT THE SW COR OF LOT 6 BLK 1 GREEN ACRES SUB UNIT 3 RUN TH ELY 150, NLY 190, WLY 150, SLY 190 TO POB IN THE CITY OF BAY MINETTE SEC 21-T2S-R3E (WD SURVIVORS HIP)
Tax Annual Amount
1738
Legal Description
150 X 190 BEG AT THE SW COR OF LOT 6 BLK 1 GREEN ACRES SUB UNIT 3 RUN TH ELY 150, NLY 190, WLY 150, SLY 190 TO POB IN THE CITY OF BAY MINETTE SEC 21-T2S-R3E (WD SURVIVORS HIP)
Utilities
Heating system
Electric (Heating), Central
Building Details
Year built
1968
Floors in Building
1
Flooring type
Tile
Listing Agency:
Delta Realty LLC
Listed By:
Mark Frenette · License #84039
(251) 937-6789
Added: Jun 3
Changed: Oct 8
Last Checked: Nov 3 at 7:06AM
MLS# 397465
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The retail property includes a 1,400-square-foot building on a 0.652-acre corner lot. Updates were completed in 2022. Interior features include tile flooring, central heating, and electric heat.
The site has 190 feet of highway frontage and occupies a signalized intersection. Coastal Alabama Community College is directly across the road.
The site has 190 feet of highway frontage and occupies a signalized intersection. Coastal Alabama Community College is directly across the road.
Key Highlights
- 1,400‑square‑foot retail building
- 0.652‑acre corner lot with 190 feet of highway frontage
- Signalized intersection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,065
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,300
$301.3K
Cap Rate 7%
$215,214
$215.2K
Cap Rate 9%
$167,389
$167.4K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$23.5K $16.80/SF
− Vacancy
−$2.0K −$1.43/SF
EGI
$21.5K $15.37/SF
− OpEx
−$6.5K −$4.61/SF
NOI
$15.1K $10.76/SF
Area
Baldwin County, AL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,300
Cap Rate 7%
$215,214
Cap Rate 9%
$167,389
Alternative Uses
Best Use
Retail
$215.2K
$188.3K – $251.1K
NOI $15,065 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.7K
$294.6K – $392.8K
NOI $23,567 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 36507, AL
19,608
Population
8,615
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
84%
High-School Grad
343.1 sq mi
ZIP Area
57
Density / Sq Mi
$47,919
Median Household Income
$34,985
Median Earnings
$872
Median Rent
$160,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - A refreshed commercial property sits at a signalized intersection across from a community college.
Where is this retail space located?
The property is located at 1903 US Highway 31 Bay Minette, AL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,400‑square‑foot retail building; 0.652‑acre corner lot with 190 feet of highway frontage; Signalized intersection
