Renovated Retail Building, Prime
For Sale
$795,000
21770 US-98, Foley, AL 36535
4,716 SF Retail For Sale 21770 US-98
Property Size4,716 SF
Lot Size0.69 Acres
Price / SF$168.58
Days on Market618
Property Features for 21770 US-98
General Information
Standard status
Active
Property type
Other retail properties, Individual retail properties, Other investment properties, Retail properties & Spaces, Investment properties
Size
4,716 SF
Elevators
N/A
Lot size
0.69 Acres
Building Details
Year Renovated
2021
Buildings
1
Stories
1
Listed By:
Paul Salter
(850) 564-0120
Added: Feb 6, 2025
Changed: Mar 16
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 4,716 square foot retail building located in Foley, Alabama. The property is situated less than half a mile from the Foley Beach Express, providing high visibility and accessibility. The building was completely renovated between 2020 and 2021 and is move-in ready. The property is zoned B2 & B3, allowing for diverse uses including retail, office, warehouse, and restaurant options. The property sits on a 0.69-acre lot. The zoning allows for a wide array of potential uses, including retail spaces, offices, warehouse facilities, and restaurants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,746
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,014,920
$1.0M
Cap Rate 7%
$724,943
$724.9K
Cap Rate 9%
$563,844
$563.8K
Market Conditions
NOI Build-Up for 4,716 SF
Gross rent
$79.2K $16.80/SF
− Vacancy
−$6.7K −$1.43/SF
EGI
$72.5K $15.37/SF
− OpEx
−$21.7K −$4.61/SF
NOI
$50.7K $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%
$1,014,920
Cap Rate 7%
$724,943
Cap Rate 9%
$563,844
Alternative Uses
Best Use
Retail
$724.9K
$634.3K – $845.8K
NOI $50,746 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$992.3K – $1.32M
NOI $79,387 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Other retail property - 4,716 SF Retail For Sale 21770 US-98
Where is this other retail property located?
The property is located at 21770 US-98 Foley, AL.
What is the asking price?
The asking price for this property is $795,000.
