Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    28691 US-98 Daphne, AL 36526

    View on Map
    Picture of Other office properties at 28691 US-98, Daphne, AL
    For Lease
    $15 SF/Yr

    4,014 SF Great Office For Lease in Daphne on US-98

    Added:
    Mar 10, 2025
    Days on Market:
    408
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 28691 US-98

    General Information

    Standard status
    Active
    Property type
    Other office properties, Office Units, Other mixed-use properties, Office properties & Spaces, Mixed-use properties
    Elevators
    N/A
    Lease Type
    NNN
    Rate Type
    Yearly

    Building Details

    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul License #FL BK3105171

    Listing office Salter Commercial, LLC

    Listing date Mar 10, 2025

    Overview

    Daphne Office Space on US-98

    Located on the west side of Highway 98 in Daphne, Alabama, this 4,014 square foot office space benefits from a highly visible location at the signalized intersection of Van Buren Street and US-98. The location provides accessibility as the first intersection south of I-10 with direct access. The building offers office suites of varying sizes, up to a total of 4,014 square feet, accessible from the rear. Suites are offered "as is," allowing for customization. The landlord is open to negotiating tenant improvement allowances or build-to-suit options for qualified tenants. The lease type is NNN, with an annual rate of $15 per square foot. Zoned for office use, the property is located in Baldwin County, Alabama, zip code 36526.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daphne
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.861
    Latitude
    30.61

    Nearby Similar for Lease

    • $27/mo

      Malbis Build-to-Suit Opportunity

      7,200 SF build-to-suit opportunity in a high-growth area.
      0 Papa George St, Daphne, AL
      View Details
    • Contact for pricing

      Daphne Office/Warehouse Space Available

      Clean, well-maintained office/warehouse space in established business park.
      26149 Capital Dr, Daphne, AL
      View Details
    • Contact for pricing

      133 - 322 SF Office For Lease - 1203 US Hwy 98, Second Floor, Suite includes Units G, H

      322 SF office suite on US Hwy 98 in Daphne.
      1203 US Hwy 98, Daphne, AL 36526
      View Details
    • Contact for pricing

      Daphne Office Space Available

      Office space in Daphne with flexible occupancy options.
      1026 Stanton Rd, Daphne, AL
      View Details
    • Contact for pricing

      24,000 SF Warehouse/Shop Buildings For Lease - Baldwin County

      24,000 SF warehouse space for lease in Daphne, Alabama.
      12015 County Road 54, Daphne, AL 36526
      View Details
    • Contact for pricing

      3,500 SF Office/Warehouse Space For Lease (Floor 1, Suite B)

      3,500 SF office and warehouse space for lease.
      8871 Rand Ave, Daphne, AL 36526
      View Details
    • Contact for pricing

      1,552 SF Retail For Lease - Pop Up Location Available

      1,552 SF retail space on US-98 in Daphne, Alabama.
      1903 US-98, Daphne, AL 36526
      View Details
    • Contact for pricing

      1,600 SF Office For Lease - Floor 1, Suite C & D Daphne Executive Center

      1600 sq ft office space in Daphne's Olde Towne.
      2210 Main St, Daphne, AL 36526
      View Details
    • Contact for pricing

      630 SF Old Daphne Small Office For Lease

      Charming, fully furnished 630 sq ft office space in downtown Daphne.
      1695 Guarisco St, Daphne, AL 36526
      View Details
    • Contact for pricing

      1,156 SF Office For Lease - 101B Villa Suites 250-254

      1,156 sq ft office with reception and four offices.
      101 Villa Dr, Daphne, AL 36526
      View Details
    • Contact for pricing

      Daphne Commercial Space on US 98

      Commercial space with large lot and high visibility on US 98.
      1903 Us Highway 98, Daphne, AL, 36526-4371
      View Details
    • $17/mo

      20,335 SF Retail For Lease - Jubilee Square (Floor 1, Suite BB)

      20,335 SF retail space in Daphne's Jubilee Square.
      6850 US-90, Daphne, AL 36526
      View Details

    FAQs

    What type of property is this?
    Office property - 4,014 SF Great Office For Lease in Daphne on US-98
    Where is this office property located?
    The property is located at 28691 US-98 Daphne, AL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    (251) 342-7229
    We can help!
    Listing Contact
    Paul Salter
    Real Estate License ID: FL BK3105171
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!