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

    7874 Co Rd 24 Fairhope, AL 36532

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial property available for lease in Fairhope, Alabama.

    Type:Industrial
    Added:
    Aug 29, 2024
    Days on Market:
    600
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 7874 Co Rd 24

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    2019

    Spaces For Lease

    at 7874 Co Rd 24 Contact us

    Suite 1 $5 /Mo

    Size
    875 SF
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Henry Wise

    Listing agent Henry Wise License #AL

    Listing office Wise Living Real Estate, LLC

    Listing date Aug 29, 2024

    Source Crexi

    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 Wise Living Real Estate, LLC

    Overview

    Commercial Property For Lease

    This commercial property, located at 7874 Co Rd 24 in Fairhope, Alabama, is available for lease. The property is classified as a specialty property and other specialty property, suitable for various commercial real estate purposes.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Department Store Kitchen & Bath Showroom Storage Facility (Bike/Boat/Book/etc) Store Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.88889
    Latitude
    30.442806

    Nearby Similar for Lease

    • $25/mo

      Prime Office Space Available

      2,500 sq ft of flexible office space for lease.
      23210 US-98, Fairhope, AL
      View Details
    • $18/mo

      Retail Strip Center on County Road

      Six-suite retail strip center with flexible leasing options.
      9481 Co Rd 32, Fairhope, AL
      View Details
    • Contact for pricing

      2,705 SF Retail For Lease - 361 Commercial Park Dr (Floor 101, Suite A)

      2,705 SF retail space with showroom and warehouse in Fairhope.
      361 Commercial Park Dr, Fairhope, AL 36532
      View Details
    • $12/mo

      Fairhope Commercial Space with Apartment

      Versatile commercial property with income-producing apartment on US Hwy 98.
      10090 US-98, Fairhope, AL
      View Details
    • Contact for pricing

      90 - 1,250 SF Renovated Co-Working Space For Lease (Floor 2, Suite 1201)

      Renovated office suites in Fairhope, Alabama, ranging from 90-1250 SF.
      19605 Greeno Rd, Fairhope, AL 36532
      View Details
    • Contact for pricing

      140 SF Single Office Spaces For Lease in Fairhope (Floor First, Suite 4)

      140 SF office space in Fairhope, AL. Full-service lease.
      766 Middle St, Fairhope, AL 36532
      View Details
    • Contact for pricing

      268 SF Single Office Spaces For Lease in Fairhope

      268 sq ft office space in Fairhope, full-service lease.
      766 Middle St, Fairhope, AL 36532
      View Details
    • Contact for pricing

      1,188 SF Retail property along the Mobile Bay For Lease

      1,188 SF retail space with road frontage along Mobile Bay.
      369 S Mobile St, Fairhope, AL 36532
      View Details
    • Contact for pricing

      132 SF Single Office For Lease in Downtown Fairhope

      132 sq ft office in the heart of Fairhope.
      102 Fairhope Ave, Fairhope, AL 36532
      View Details
    • $16/mo

      Montrose Office Space For Rent

      Office space in a desirable business complex off Hwy 98.
      22873 US Highway 98, Fairhope, AL
      View Details
    • $40/mo

      1,753 - 3,900 SF Office For Lease - 55 N. Section Street - Floor 1st floor, Suite A & B

      Versatile office space in prime Fairhope location.
      55 N Section St, Fairhope, AL 36532
      View Details
    • $250/mo

      41 SF Private Offices & Co-working Space For Lease - 314 Magnolia (Suite 1st Floor)

      41 sq ft office in Fairhope's newest Class A building.
      314 Magnolia Ave, Fairhope, AL 36532
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property available for lease in Fairhope, Alabama.
    Where is this specialty property located?
    The property is located at 7874 Co Rd 24 Fairhope, AL.
    What are key features of this property?
    This property features: Year Built: 2019 (Relatively new construction); For Lease
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Henry Wise
    Real Estate License ID: AL
    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!