Back to Search
Commercial Building on Highway 98

34397 Highway 98 West Lillian, AL 36549

34397 Highway 98 West, Lillian, AL, 36549
$699,000
For Sale
$699,000

2,200 SF Retail Building For Sale

Property Size2,200 SF
Lot Size1.00 Acre
Price / SF$317.73
Days on Market526

Property Features for 34397 Highway 98 West

General Information

Standard status
Active
Property type
Other retail properties, Individual retail properties, Other office properties, Retail properties & Spaces, Office Spaces
Size
2,200 SF
Net Rentable
2,200 SF
Elevators
N/A
Lot size
1.00 Acre

Building Details

Year Built
1974
Year Renovated
2006
Buildings
1
Stories
1
Listing Office
Listed by Paul
Added: Feb 6, 2025 Checked: Mar 16 at 9:06 am

Investment Insights

Based on property information with market context.

This 2,200 square foot commercial building is located on Highway 98 West in downtown Lillian, Alabama. Zoned B4, this high-visibility property boasts 232 linear feet of frontage on Highway 98. The property features 11,000 square feet of existing gravel parking. Access is provided by a permitted 27-foot-wide driveway. The land is level, improved, and fully usable, with existing perimeter and security lighting. The building itself offers 1700 square feet of heated and cooled space, including a lobby, sales area, three additional offices, a kitchen, and two bathrooms. An oversized double garage/workshop provides additional usable space. A new roof was installed in 2022. Sewer access is available at the property's front. The property's strategic location is only a half-mile from a major boat launch and Perdido Bay, and minutes from the Florida state line, capturing traffic from both states. According to AL DOT, the traffic count is 11,694 vehicles. A recently permitted emergency medical facility is under construction nearby, scheduled for completion in 2025, and a Life Flight landing site is directly across the street. This property is ideal for a variety of businesses, including boat dealerships, car/RV dealerships, and restaurants.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $42.2k $19.20
− Vacancy −$8.0k −$3.65
EGI $34.2k $15.55
− OpEx −$8.6k −$3.89
NOI $25.7k $11.66
2,200 SF · lease $19.20/SF/yr · vacancy 19.00% · expense 25.00%

Alternative Uses

Best Use
Office B
$366.6K
$320.8K – $427.7K (±1% cap)
NOI $25,661 @ 7.0% cap · market cap 3.67%
Second Best
Retail
$338.2K
$295.9K – $394.6K (±1% cap)
NOI $23,673 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$529.1K
$462.9K – $617.2K (±1% cap)
NOI $37,034 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Retail properties & Spaces

Suggested Use

Auto Repair Shop Electrical Service Kitchen & Bath Showroom Nail Salon Dental Office Spa & Massage Center Skin Care Clinic Veterinary Clinic Real Estate Agency Garden Center

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

FAQs

What type of property is this?
Other retail property - 2,200 SF Retail Building For Sale
Where is this other retail property located?
The property is located at 34397 Highway 98 West Lillian, AL.
What is the asking price?
The asking price for this property is $699,000.
Contact an agent
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