8388 AL-59 Foley, AL 36535
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 8388 AL-59
- Year built
- 2008
- Property type
- Retail properties
Description
Palm Center is a 9,218 sf shopping center (strip center) located in the thriving city of Foley, Alabama and in the fastest growing county in Alabama - Baldwin County. This property is located just a mile from Lowes, Home Depot, and Chick-Fil-A and just minutes away from Tanger Outlets and OWA Theme and Water Parks. This property offers several value-add opportunities for a new owner. First, the current rents at $13.78 square foot are under market compared with the surrounding rates of $16.00-18.00 per square foot. Next, the leases are Gross Leases and a future opportunity would be to make these to NNN leases. The current owner does not charge to rent spots on the monument sign so that would be another source of revenue for a new owner. Finally, the Lamar sign can be sold to Lamar instead of renting. This shopping center is in great condition and the owner has remodeled it. The parking lot has ample parking with 55 spaces. Great visibility with 36,000 VPD traffic count and median cut in front of center. Great road frontage with 153' on Hwy 59. 5 stores and 1.08 acres. Buyer and Buyer's Agent to verify all information.
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
- Foley
- County
- State
- Alabama
- Longitude
- -87.6832
- Latitude
- 30.4423
