1720 Alabama 59 Gulf Shores, AL 36542
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 1720 Alabama 59
- Year built
- 1981
- Property type
- Retail properties
Description
Paradise Isle Shopping Center is an extremely well-located, 100% occupied, multi-tenant shopping center, anchored by a newly built Publix, with a high daily traffic count (DTC 47,000) and excellent visibility and access on Gulf Shores Pkwy (Hwy 59), the main corridor to Gulf Shores and Orange Beach from the I-65 and I-10 interstates. This shopping center is in a prime location within 1.5 miles from the Gulf Shores bustling strip of tourist attractions and hotels. The property is located on 4.3 acres and the buildings have a total of 46,780 sf with a projected net operating income at $371,600. The property is zoned BG – General Business District and is intended to provide locations for a mixture of commercial, service, lodging, multi-family, and other compatible uses serving community needs. Property Attributes: * Publix – completely rebuilt in 2024 and holds a 20-year lease which commenced in 2024 * Auto Zone – 10-year lease begins 2024 – 2025 * Hwy 59 widening and improvement project will be completed in 2026 and includes user-friendly entrances and access management to Publix (7 access points for ingress & egress). * Embassy Suites, a $85 million project, 1.7 miles from Paradise Isle SC is now underway and will be completed in July 2025. * The iconic, newly rebuilt Lodge at Gulf State Park, a $140 million project, funded by the State of Alabama, is within 3 miles from Paradise Isle SC. * There are numerous barriers for new retail development which in turn will make this property appreciate in value. * Offered well below replacement cost at $128/sqft.
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
- Gulf Shores
- County
- State
- Alabama
- Longitude
- -87.7008193
- Latitude
- 30.2460361
