For Sale
$679,000
531 W Laurel Ave, Foley, AL 36535
Apartment buildings
Property Size3,743 SF
Lot Size0.50 Acres
Price / SF$181.41
Days on Market205
Property Features for 531 W Laurel Ave
General Information
Standard status
Active
Size
3,743 SF
Lot size
0.50 Acres
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Ryals Realty, Inc
Listed By:
Alla Nikitina · License #108869
(251) 923-6475
Source:
Coastalalabamahomesforsale
Added: Mar 26
Changed: Oct 4
Last Checked: Oct 16 at 10:52AM
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 Ryals Realty, Inc
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Investment Insights
Based on property information with market context.
Key Highlights
- Prime location: Steps from Foley Downtown, close to schools, medical facilities, and essential services.
- Consistent Income: Property is 100% occupied as a 55+ community.
- Updated Systems: Renovated in 2018 with updated electrical, plumbing, sprinkler, and smoke detector systems.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,509
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,180
$610.2K
Cap Rate 7%
$435,843
$435.8K
Cap Rate 9%
$338,989
$339.0K
Market Conditions
NOI Build-Up for 3,743 SF
Gross rent
$58.4K $15.60/SF
− Vacancy
−$2.9K −$0.78/SF
EGI
$55.5K $14.82/SF
− OpEx
−$25.0K −$6.67/SF
NOI
$30.5K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,180
Cap Rate 7%
$435,843
Cap Rate 9%
$338,989
Alternative Uses
Best Use
Apartment 5plus
$435.8K
$381.4K – $508.5K
NOI $30,509 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$900.1K
$787.6K – $1.05M
NOI $63,008 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
Where is this apartment building located?
The property is located at 531 W Laurel Ave Foley, AL.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Prime location: Steps from Foley Downtown, close to schools, medical facilities, and essential services.; Consistent Income: Property is 100% occupied as a 55+ community.; Updated Systems: Renovated in 2018 with updated electrical, plumbing, sprinkler, and smoke detector systems.
