Live-Work Office
For Sale
$549,900
23571 Highway 59, Robertsdale, AL 36567
Office space with a kitchen and multiple offices, plus an on-site 3-bedroom, 2-bath home and paved parking lot.
Property Size1,600 SF
Price / SF$343.69
Days on Market176
Property Features for 23571 Highway 59
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
3
Tile, Laminate
Composition Shingle
Other
Building Details
Year Built
1980
Listing Agency:
Inshore Realty LLC
(251) 424-1500
Listed By:
Dean Skipper Jr · License #53032
(251) 747-2603
Source:
Xome
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 4 at 4:12AM
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 Inshore Realty LLC
Investment Insights
Based on property information with market context.
This live-work commercial property includes an office space with a kitchen and several additional offices. The site also has an in-place long-term tenant in a separate home on the property. The home is described as a 3-bedroom, 2-bath residence, and the paved lot provides for parking on-site.
The property has road frontage to Highway 59, supporting business access for tenant or customer use. Public remarks note that the property has previously been used for different businesses, including a veterinary office and a law office.
For buyers or tenants, the configuration offers flexibility to utilize the office portion and the home component as separate spaces, while also accommodating an existing long-term tenant in place. All information should be verified by the buyer during due diligence, and leasing details are referenced as MLS 388034.
The property has road frontage to Highway 59, supporting business access for tenant or customer use. Public remarks note that the property has previously been used for different businesses, including a veterinary office and a law office.
For buyers or tenants, the configuration offers flexibility to utilize the office portion and the home component as separate spaces, while also accommodating an existing long-term tenant in place. All information should be verified by the buyer during due diligence, and leasing details are referenced as MLS 388034.
Key Highlights
- Commercial property in Robertsdale with office space that includes a kitchen and multiple offices
- On‑site 3‑bedroom, 2‑bath home used by an in‑place long‑term tenant (approx. 2,100 SF+/-)
- Year built 1980
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
$18,662
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
3.39%
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%
$373,240
$373.2K
Cap Rate 7%
$266,600
$266.6K
Cap Rate 9%
$207,356
$207.4K
Market Conditions
NOI Build-Up for 1,600 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
$30.7K $19.20/SF
− Vacancy
−$5.8K −$3.65/SF
EGI
$24.9K $15.55/SF
− OpEx
−$6.2K −$3.89/SF
NOI
$18.7K $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%
$373,240
Cap Rate 7%
$266,600
Cap Rate 9%
$207,356
Alternative Uses
Best Use
Office B
$266.6K
$233.3K – $311.0K
NOI $18,662 @ 7.0% cap · market cap 3.39%
Second Best
Mixed Use
$211.8K
$185.3K – $247.1K
NOI $14,823 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$384.8K
$336.7K – $448.9K
NOI $26,934 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 36567, AL
14,620
Population
6,054
Households
2.4
Avg Household Size
39
Median Age
17%
College-Educated
86%
High-School Grad
228.7 sq mi
ZIP Area
64
Density / Sq Mi
$59,763
Median Household Income
$40,276
Median Earnings
$943
Median Rent
$220,400
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?
Live-work space - Office space with a kitchen and multiple offices, plus an on-site 3-bedroom, 2-bath home and paved parking lot.
Where is this live-work space located?
The property is located at 23571 Highway 59 Robertsdale, AL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Commercial property in Robertsdale with office space that includes a kitchen and multiple offices; On‑site 3‑bedroom, 2‑bath home used by an in‑place long‑term tenant (approx. 2,100 SF+/-); Year built 1980
