Us-98 Fairhope, AL 36532
- Lifestyle centers
- 6,000 SF
- 8.90 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 0 Us-98
- Lot size
- 8.90 lot acres
- Property size
- 6,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A, 6,000 square foot shopping center in Fairhope, Alabama presents a compelling investment opportunity. The property boasts 100% occupancy across four units with a stable, multi-tenant lease structure featuring a remaining term of 10 years and a net lease type. Situated on an 8.9-acre lot (with an additional 1 acre currently generating rental income and 4 acres ready for development or subdivision), this two-story building enjoys a highly desirable location on US-98, benefiting from heavy traffic and high visibility. The property's strategic position near the proposed intersection of HWY 181 and HWY 98 is projected to see over 10,000 vehicles daily, further enhancing its potential. The current cap rate stands at 5.00%, and the asking price is $1,150,000. The property includes a billboard generating additional rental income. Owner financing is available for qualified buyers at 5.5% interest (terms apply). The property's APN is 05-56-05-22-0-000-018.001 and is zoned COMMERCIAL. This stabilized investment offers significant upside potential for long-term growth and income generation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fairhope
- County
- Baldwin
- State
- Alabama
- Longitude
- -87.8531
- Latitude
- 30.42
