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    Atmore Restaurant on Highway 21 Title is generated by Realmo AI

    2989 Highway 21, Atmore, AL 36502

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    Claim this Listing
    For Sale
    $280,000

    Fully equipped restaurant for sale in Atmore, Alabama.

    Type:Commercial/Industrial
    Added:
    Jun 27, 2025
    Days on Market:
    343
    Last Refresh:
    Apr 7 at 8:04 pm

    Property Features for 2989 Highway 21

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Bub Gideons
    Bub Gideons

    Listing agent Bub Gideons License #93778

    Listing office PHD Realty, LLC

    Listing date Jun 27, 2025

    Source Exitrealty

    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 PHD Realty, LLC

    HighLights

    • Prime location on Hwy 21 with high traffic volume near I‑65, Wind Creek Casino, and Atmore Urgent Care.
    • SBA HUBZone location offering potential federal contracting advantages.
    • Established restaurant in business since 1997 with seating for 80 and a loyal customer base.
    • Fully equipped kitchen including a 6‑burner gas stove, fryers, refrigeration, and prep stations.
    • Recent upgrades including 2 new A/C units, a new under‑counter cooler, updated tables/chairs, upgraded plates, and a 2023 storage shed.
    • Atmore's significant economic growth with $4.8B+ in investments since 2020.

    Overview

    This fully equipped restaurant is located on Highway 21 in Atmore, Alabama, within a high-traffic corridor. In business since 1997, the restaurant has a loyal customer base. The dining area is split into two sections with seating for 80 patrons. The kitchen is equipped with a 6-burner gas stove, fryers, refrigeration units, and prep stations. An asphalt parking lot provides parking with two entrances. The restaurant is currently open Monday through Saturday for lunch and dinner, and Sunday for lunch. Recent upgrades include two new A/C units, a new under-counter cooler, updated tables and chairs, upgraded plates, and a 2023 storage shed. The property is located approximately 4 minutes from I-65, Wind Creek Casino & Hotel, and Atmore Urgent Care, and 10 minutes from the Alabama-Florida state line. Highway 21 sees 10,862 vehicles per day, a 3% increase since 2022. Robinsonville Road sees 1,911 vehicles per day, while Woods Road sees 2,415 vehicles per day. The property is located in an SBA HUBZone, a federal program designed to stimulate economic development and job growth in designated areas. Atmore has seen over $4.8 billion in investments since 2020, with key growth including three new buildings in Atmore Industrial Park, land added near Highway 21 and I-65 for expansion, and the I-65 Business Park being actively marketed.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Daycare Center Bed & Breakfast Nursing Home Nursing Home Restaurant Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Atmore
    County
    Escambia
    State
    Alabama
    Longitude
    -87.489706
    Latitude
    31.066569

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    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped restaurant for sale in Atmore, Alabama.
    Where is this conventional restaurant located?
    The property is located at 2989 Highway 21 Atmore, AL.
    What is the asking price?
    The asking price for this property is $280,000.
    What are key features of this property?
    This property features: Prime location on Hwy 21 with high traffic volume near I‑65, Wind Creek Casino, and Atmore Urgent Care.; SBA HUBZone location offering potential federal contracting advantages.; Established restaurant in business since 1997 with seating for 80 and a loyal customer base.
    (251) 359-6523
    We can help!
    Listing Contact
    Bub Gideons
    Bub Gideons
    Real Estate License ID: 93778
    Learn More
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    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.

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    2989 Highway 21, Atmore, AL 36502
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