Mixed-Use Property with
For Sale
Contact for pricing
19220 State Highway 181, Fairhope, AL 36532
Two improved parcels combine professional office space, a residential rental building, and Limited Business zoning.
Property Size2,400 SF
Lot Size1.60 Acres
Price / SF$364.58
Days on Market140
Property Features for 19220 State Highway 181
General Information
Standard status
Active
Size
2,400 SF
Lot size
1.60 Acres
Property subtype
Office, Mixed Use, Land
Zoning
LB
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$54,000
Land Use
mixed-use, commercial, residential
Office Units
1
Building Details
Buildings
2
Stories
1
Tenancy
Single
Listing Agency:
Wise Living Real Estate, LLC
(251) 422-3300
Listed By:
Weston Robles · License #154307-1
Source:
Crexi
Added: Apr 14
Changed: Aug 29
Last Checked: Aug 29 at 7:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wise Living Real Estate, LLC
Investment Insights
Based on property information with market context.
This mixed-use property at 19220 State Highway 181 includes two parcels totaling approximately ±1.6 acres. The front parcel contains a ±1,167 SF commercial office building and 120 feet of highway frontage. A separate rear parcel of approximately 1.06 acres includes a ±1,678 SF building currently used as a residential rental. The rear structure may also support office use or residential occupancy, subject to buyer verification and applicable approvals.
The property is zoned Limited Business (LB) and sits near Walmart in Fairhope, Alabama. Existing infrastructure includes Baldwin EMC power, Fairhope Utilities water service with four meters, and four septic systems serving the buildings and rear land. AT&T internet serves the front parcel, while Comcast is available at the rear. Approximately .75 acres behind the rear building includes utility connections associated with former mobile-home sites. No gas utilities are currently installed.
The property is zoned Limited Business (LB) and sits near Walmart in Fairhope, Alabama. Existing infrastructure includes Baldwin EMC power, Fairhope Utilities water service with four meters, and four septic systems serving the buildings and rear land. AT&T internet serves the front parcel, while Comcast is available at the rear. Approximately .75 acres behind the rear building includes utility connections associated with former mobile-home sites. No gas utilities are currently installed.
Key Highlights
- Approximately ±1.6 acres across two parcels
- Front parcel offers 120 ft. of frontage along State Highway 181
- Front parcel includes a ±1,167 SF commercial office building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,994
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$559,880
$559.9K
Cap Rate 7%
$399,914
$399.9K
Cap Rate 9%
$311,044
$311.0K
Market Conditions
NOI Build-Up for 2,400 SF
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.
Gross rent
$46.1K $19.20/SF
− Vacancy
−$8.8K −$3.65/SF
EGI
$37.3K $15.55/SF
− OpEx
−$9.3K −$3.89/SF
NOI
$28.0K $11.66/SF
Area
Baldwin County, AL
Vacancy
19.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$559,880
Cap Rate 7%
$399,914
Cap Rate 9%
$311,044
Alternative Uses
Best Use
Office B
$399.9K
$349.9K – $466.6K
NOI $27,994 @ 7.0% cap · market cap 3.20%
Second Best
Mixed Use
$317.6K
$277.9K – $370.6K
NOI $22,235 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$577.2K
$505.0K – $673.4K
NOI $40,401 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 36532, AL
36,918
Population
17,502
Households
2.1
Avg Household Size
48
Median Age
50%
College-Educated
94%
High-School Grad
73.2 sq mi
ZIP Area
504
Density / Sq Mi
$86,026
Median Household Income
$46,129
Median Earnings
$1,374
Median Rent
$395,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two improved parcels combine professional office space, a residential rental building, and Limited Business zoning.
Where is this mixed-use property located?
The property is located at 19220 State Highway 181 Fairhope, AL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Approximately ±1.6 acres across two parcels; Front parcel offers 120 ft. of frontage along State Highway 181; Front parcel includes a ±1,167 SF commercial office building
