Restaurant in Historic
213 McKenzie Street, Foley, AL 36535
For Sale
$875,000
The sale combines the operating restaurant, its furnishings and equipment, and the building.
Property Size2,160 SF
Price / SF$405.09
Days on Market179
Property Features for 213 McKenzie Street
General Information
Standard status
Size
Property subtype
Restaurant
Commercial Hood
Equipment Included
Additional Details
Furnished
Business Included
Currently Operating
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
RE/MAX of Orange Beach
(251) 981-2400
Listed By:
Kimberly T Kelly · License AL #78150
(251) 228-2115
Source:
Karenroserealestate
Added: May 18
Changed: Nov 12
Last Checked: Nov 12 at 1:41AM
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 RE/MAX of Orange Beach
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Investment Insights
Based on property information with market context.
The restaurant occupies a 2,160-square-foot commercial building constructed in 1918. Recent work includes a replacement roof, HVAC updates, a new hood vent motor, and an expanded prep kitchen with added plumbing and electrical. The sale includes the operating business, furniture, fixtures, equipment, established branding, and goodwill.
Located at 213 McKenzie Street in downtown Foley, the property has city-owned parking at the front, rear, and side. The surrounding downtown area includes parks, shopping, festivals, and community events.
Located at 213 McKenzie Street in downtown Foley, the property has city-owned parking at the front, rear, and side. The surrounding downtown area includes parks, shopping, festivals, and community events.
Key Highlights
- 2,160‑square‑foot building dating to 1918
- Sale includes the real estate, operating restaurant, furniture, fixtures, equipment, branding, and goodwill
- Recent improvements include a new roof, updated HVAC, hood vent motor, and expanded prep kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,004
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,080
$520.1K
Cap Rate 7%
$371,486
$371.5K
Cap Rate 9%
$288,933
$288.9K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$36.8K $17.04/SF
− Vacancy
−$2.1K −$0.99/SF
EGI
$34.7K $16.05/SF
− OpEx
−$8.7K −$4.01/SF
NOI
$26.0K $12.04/SF
Area
Baldwin County, AL
Vacancy
5.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$520,080
Cap Rate 7%
$371,486
Cap Rate 9%
$288,933
Alternative Uses
Best Use
Specialty Retail
$371.5K
$325.1K – $433.4K
NOI $26,004 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$519.4K
$454.5K – $606.0K
NOI $36,361 @ 7.0% cap · market cap 4.16%
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
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Home Improvements & Furnishings 2%
Regions Bank
Shops & Services
8,923 visits/mo
0.4 miles
Chevron
Shops & Services
4,627 visits/mo
0.4 miles
Truist
Shops & Services
3,568 visits/mo
0.0 miles
Napa Auto Parts
Shops & Services
810 visits/mo
0.2 miles
Badcock Home Furniture & More
Home Improvements & Furnishings
364 visits/mo
0.4 miles
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
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?
Conventional restaurant - The sale combines the operating restaurant, its furnishings and equipment, and the building.
Where is this conventional restaurant located?
The property is located at 213 McKenzie Street Foley, 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: 2,160‑square‑foot building dating to 1918; Sale includes the real estate, operating restaurant, furniture, fixtures, equipment, branding, and goodwill; Recent improvements include a new roof, updated HVAC, hood vent motor, and expanded prep kitchen
