240 Fern Ave Foley, AL 36535
- Land
Current Use by Public Records
- Land
Property Details for 240 Fern Ave
- Property type
- Land
- Property subtype
- Medical space
Description
This exceptional 12.18-acre commercial land parcel, situated in Foley, Alabama's thriving Medical Overlay District, presents a unique investment opportunity. Located conveniently near South Baldwin Regional Medical Center—currently undergoing a $250 million expansion—this property is ideally positioned to capitalize on Foley's rapid growth, particularly within its expanding healthcare sector. The site boasts approved plans for 88,000 square feet of development, with a parking ratio of 4 spaces per 1,000 square feet. Current building footprints range from 3,500 to 4,500 square feet, though modifications are possible to suit individual needs. The developer will handle all infrastructure installation, including roads, parking, utilities, landscaping, and common areas. Architectural designs will be reviewed to maintain visual consistency. Single or multiple pads are available for purchase, with build-to-suit options also considered. This property is located in an Opportunity Zone and within walking distance of the expanding medical center, making it an attractive investment in a high-growth area with a rapidly aging population. Approximately 3,000 homes have been completed or permitted within the past year in this area. The property has access from both Fern Avenue and Berry Avenue. The asking price is $500,000. APN: 05-54-05-21-3-000-001.000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Foley
- County
- Baldwin
- State
- Alabama
- Longitude
- -87.6776
- Latitude
- 30.4214
