Fully Leased Retail Condo
For Sale
Contact for pricing
27267 Perdido Beach Blvd, Orange Beach, AL 36561
Fully leased retail condominium package with five-suite units available individually within a marina entertainment setting.
Property Size5,900 SF
Price / SF$320.17
Days on Market182
Property Features for 27267 Perdido Beach Blvd
General Information
Standard status
Active
Size
5,900 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
Dolphin Cove Realty LLC
(251) 228-0633
Listed By:
Mitch Holliman · License #75009-1
(251) 979-8155
Source:
Moodyscre
Added: Mar 8
Changed: Aug 15
Last Checked: Sep 5 at 1:23PM
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 Dolphin Cove Realty LLC
Investment Insights
Based on property information with market context.
This offering is a fully leased retail condominium package within SanRoc Cay Marina, designed as a multi-tenant retail configuration. The package includes two units of five suites, totaling approximately 5,900 square feet, and buyers may also purchase Unit 1 or Unit 2 separately. For marketing and due diligence, property virtual tour links are provided in the attached PDF.
SanRoc Cay Marina is a mixed-use destination along Perdido Beach Boulevard, with ground-level shops and restaurants and office and residential condominiums above. The marina provides direct access to the waterfront and supports ongoing activity tied to charter fishing and dolphin cruises, along with a dock store offering boating necessities.
The retail setting includes ample surface and underground parking and features a central courtyard used as a gathering area. The surrounding tenant mix noted in the remarks includes dining and service businesses such as Louisiana Lagniappe, Pelican Grill, Pizza at the Pass, Serenity at the Beach Salon & Spa, and the Tipsy Pelican outdoor bar, with nearby waterfront attractions also referenced in the development description.
SanRoc Cay Marina is a mixed-use destination along Perdido Beach Boulevard, with ground-level shops and restaurants and office and residential condominiums above. The marina provides direct access to the waterfront and supports ongoing activity tied to charter fishing and dolphin cruises, along with a dock store offering boating necessities.
The retail setting includes ample surface and underground parking and features a central courtyard used as a gathering area. The surrounding tenant mix noted in the remarks includes dining and service businesses such as Louisiana Lagniappe, Pelican Grill, Pizza at the Pass, Serenity at the Beach Salon & Spa, and the Tipsy Pelican outdoor bar, with nearby waterfront attractions also referenced in the development description.
Key Highlights
- Fully leased retail condominium package within SanRoc Cay Marina in Orange Beach, AL
- Two retail condominium units totaling approximately 5,900 SF, with five suites across the two units
- Buyers may purchase Unit 1 or Unit 2 separately
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
$63,486
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
3.36%
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%
$1,269,720
$1.3M
Cap Rate 7%
$906,943
$906.9K
Cap Rate 9%
$705,400
$705.4K
Market Conditions
NOI Build-Up for 5,900 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
$99.1K $16.80/SF
− Vacancy
−$8.4K −$1.43/SF
EGI
$90.7K $15.37/SF
− OpEx
−$27.2K −$4.61/SF
NOI
$63.5K $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 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%
$1,269,720
Cap Rate 7%
$906,943
Cap Rate 9%
$705,400
Alternative Uses
Best Use
Retail
$906.9K
$793.6K – $1.06M
NOI $63,486 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,318 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 36561, AL
9,146
Population
16,184
Households
0.6
Avg Household Size
52
Median Age
41%
College-Educated
98%
High-School Grad
16.7 sq mi
ZIP Area
548
Density / Sq Mi
$89,432
Median Household Income
$48,771
Median Earnings
$1,346
Median Rent
$529,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail condominium package with five-suite units available individually within a marina entertainment setting.
Where is this retail space located?
The property is located at 27267 Perdido Beach Blvd Orange Beach, AL.
What is the asking price?
The asking price for this property is $1,889,000.
What are key features of this property?
This property features: Fully leased retail condominium package within SanRoc Cay Marina in Orange Beach, AL; Two retail condominium units totaling approximately 5,900 SF, with five suites across the two units; Buyers may purchase Unit 1 or Unit 2 separately
