Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Store Along Mobile Bay Title is generated by Realmo AI

    369 S Mobile St, Fairhope, AL 36532

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail space with road frontage along Mobile Bay.

    Type:Land, Mixed Use, Retail
    Property size:
    1,188 SF
    Price / SF:
    $1,262/SF
    Added:
    Aug 29, 2024
    Days on Market:
    643
    Last Refresh:
    May 12 at 9:32 pm

    Property Features for 369 S Mobile St

    General Information

    Standard status
    Active
    Size
    1,188 SF
    Property subtype
    Land, Mixed Use, Retail

    Building Details

    Year Built
    1945

    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

    HighLights

    • Prime location along Mobile Bay with 154' of road frontage.
    • Previously approved for a mixed‑use building with residential condos above retail space (plans available).
    • Suitable for retail use, previously operated as a sno‑cone business and other retail spots.
    • Site has no fuel tanks and a full release from ADEM on environmental.
    • Located in Fairhope.
    • Building built in 1945.

    Overview

    A retail store situated along Mobile Bay, featuring 154 feet of road frontage, is available. The 1,188 square-foot space has been previously occupied by Ice Ice Baby Sno-Cones, among other retail businesses in Fairhope. The site was previously approved for a mixed-use building that would include residential condos above the retail space. Plans are available upon request. The site has no fuel tanks and a full release from ADEM on environmental.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ice Ice Baby ... Grocery & Convenience Store

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.914681
    Latitude
    30.5176734

    Nearby Similar for Sale

    • $1,298,000
      6,400 SF

      Prime Commercial Land in Fairhope

      2.1-acre B-2 zoned property in a high-growth commercial corridor.
      10413 State Highway 104, Fairhope, AL 36532
      View Details
    • $1,298,000

      Prime Commercial Land in Fairhope

      2.1-acre B-2 zoned property in a high-growth commercial corridor.
      10413 Hwy 104, Fairhope, AL 36532
      View Details
    • $485,000
      2,549 SF

      Fairhope Property with Versatile Space

      2.5 acres, 2,549 sq ft home, and 40' x 100' slab.
      10590 County Road 32, Fairhope, AL 36532
      View Details
    • $164,500

      Improved RV Lot in Fairhope

      RV lot with pergola, outdoor kitchen, and community amenities.
      22267 Lot 17 Fairhope Motorcoach Loop, Fairhope, AL 36532
      View Details
    • $689,000

      Versatile Corner Property in Fairhope

      5.55-acre corner lot with high visibility and development potential.
      10441 County Road 48, Fairhope, AL 36532
      View Details
    • $225,000

      Fairhope Acre with Commercial Access

      One-acre lot with commercial access on Greeno Road.
      19441 Greeno Road, Fairhope, AL 36532
      View Details
    • $135,000

      Upscale RV Lot in Fairhope

      Class A motor coach lot with pergola near Fairhope.
      22123 Lot 42 Resort Blvd, Fairhope, AL 36532
      View Details
    • $2,499,900

      Fairhope Land with Development Potential

      3.35 acre lot near downtown Fairhope with development potential.
      313 Greeno Road, Fairhope, AL 36532
      View Details
    • $195,000

      Residential Lots in Upscale Development

      Premier Fairhope residential lots in an upscale, insulated development.
      250 Mount Pleasant Boulevard, Fairhope, AL 36532
      View Details
    • $489,990

      Nine Acres Ready for Development

      Fairhope land with utilities, no restrictions, development potential.
      9590 County Road 34, Fairhope, AL 36526
      View Details
    • $189,000

      Upscale RV Lot in Fairhope

      Class A motor coach lot in gated community near downtown.
      22364 Lot 49 Fairhope Motorcoach Loop, Fairhope, AL 36532
      View Details
    • $475,000

      Residential Lot in Fairhope, AL

      Last remaining and largest lot in the neighborhood.
      641 Hermitage Court, Fairhope, AL 36532
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with road frontage along Mobile Bay.
    Where is this retail space located?
    The property is located at 369 S Mobile St Fairhope, AL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Prime location along Mobile Bay with **154' of road frontage**.; Previously approved for a mixed‑use building with residential condos above retail space (plans available).; Suitable for retail use, previously operated as a sno‑cone business and other retail spots.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Henry Wise
    Real Estate License ID: AL
    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

    Thank You for Inquiry
    369 S Mobile St, Fairhope, AL 36532
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!