531 W Laurel Ave Foley, AL 36535
531 W Laurel Ave, Foley, AL, 36535
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For Sale
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Apartment buildings
Property Size3,743 SF
Lot Size0.50 Acres
Price / SF$181.65
Days on Market660
Property Features for 531 W Laurel Ave
General Information
- Standard status
- Active
- Size
- 3,743 SF
- Lot size
- 0.50 Acres
- Property subtype
- Hospitality, Mixed Use, Multifamily, Senior Living
Building Details
- Year Built
- 1925
Listing Agency
Ryals Realty Inc.
(251) 923-6475
Listed by
Alla Nikitina · License #AL 000111590-0
Source
Crexi
Added: Sep 26, 2024 Checked: Jul 15 at 10:17 pm
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.
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.
Local Financial Insights For Apartment 5plus
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 | $58.4k | $15.60 |
| − Vacancy | −$2.9k | −$0.78 |
| EGI | $55.5k | $14.82 |
| − OpEx | −$25.0k | −$6.67 |
| NOI | $30.5k | $8.15 |
3,743 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
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 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Love Lady Center ...
Medical Clinic
Wright Chandra C
Law Firm
Murchison & Howard LLC
Law Firm
Similar For Sale Nearby
FAQs
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 $679,900.
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.
