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    US 98 highway Foley, AL 36535
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    US 98 highway Foley, AL 36535

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    • Land
    For Sale
    $350,000
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    300 - 82,500 SF Land For Sale - 2 Parcels Sold Together! For Sale
    $350,000
    82,500 SF

    300 - 82,500 SF Land For Sale - 2 Parcels Sold Together!

    300 - 82,500 SF Land For Sale - 2 Parcels Sold Together!

    US 98 highway, Foley, AL 36535
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for US 98 highway

    Property type
    Land
    Property subtype
    Commercial land

    Description

    High Profile Highway 98 Frontage Priced Right!!! (2) Commercial Lots sold together and each lot is 150'x275'...a total of 300x275!! Perfect spot for your business! Located in the Foley Plantation Commercial Park...nearly 2 acres!!! $399,000!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    State
    Alabama
    Longitude
    -87.6459
    Latitude
    30.4068

    Comparable in this City

    • Value Estimation by Request

      19 Acres of Prime Land For Sale Near OWA

      19 Acres of Prime Land For Sale Near OWA
      0 beck road, Foley, AL 36535
      View Details
    • Value Estimation by Request

      35.5 Prime Acres For Sale in Foley, AL on CR 20 near HWY 59

      35.5 Prime Acres For Sale in Foley, AL on CR 20 near HWY 59
      19016 County Rd 20, Foley, AL 36535
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    • Value Estimation by Request

      115 Acres Land Pending Sale

      115 Acres Land Pending Sale
      0 county 12 road, Foley, AL 36535
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    • Value Estimation by Request

      0.63 Acres Lot 1, Lot 2, & Lot 4 For Sale - Buyers Choice

      0.63 Acres Lot 1, Lot 2, & Lot 4 For Sale - Buyers Choice
      0 S Hickory St, Foley, AL 36535
      View Details
    • Value Estimation by Request

      One Acre Near South Baldwin Medical Center

      One Acre Near South Baldwin Medical Center
      0 N juniper street, Foley, AL 36535
      View Details
    • Value Estimation by Request

      1.5 Acres Land For Sale - 0 County Rd 20, Lot 15

      1.5 Acres Land For Sale - 0 County Rd 20, Lot 15
      0 Co Rd 20 Lot 15, Foley, AL 36535
      View Details

    Similar Nearby for Sale

    • $299,900
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      Foley Commercial Land: Prime Location

      High-visibility lot, owner financing available.
      20750 Miflin Rd, Foley, AL 36535
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    • $109,900
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      Foley, AL Commercial Land Opportunity

      Prime 0.88-acre lot, ideal for development.
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    • $885,000
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      Prime Foley Hotel Development Site

      102-Unit Hotel Approved, Near OWA
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    • $399,900
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      Foley Commercial Land: Prime Location

      High-visibility lot, owner financing available.
      20750 Miflin Rd, Foley, AL 36535
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    • $299,900
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      Foley, AL Commercial Lot - 1.74 Acres

      High-visibility Foley commercial lot; prime location, owner financing.
      20750 Miflin Rd, Foley, AL 36535
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    • $1,100,000
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      Prime Foley Land - 8.3 Acres

      Exceptional development opportunity near major retailers.
      1 Pine St, Foley, AL 36535
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    Similar Nearby for Lease

    • $90,000
      48,787 SF

      Prime Foley Hwy 59 Outparcel

      1.12-acre ground lease, high traffic location.
      1884 S McKenzie St, Foley, AL 36535
      View Details
    • $1,500 /Mo
      454,321 SF

      Prime Foley, AL Land Lease Opportunity

      10 acres, Hwy 98 frontage, ideal for various uses
      0 Barin field road, Foley, AL 36535
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    • Contact for pricing

      Riverfront Land for Sale

      Land with extensive frontage on the Bon Secour River.
      N River Rd, Foley, AL 36535
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    • Contact for pricing

      10 Acre Commercial Land Lease

      Commercial land available for lease with frontage on Hwy 98.
      Barin Field Rd, Foley, AL 36535
      View Details
    • Contact for pricing

      2.08 Acre Lot on Expressway

      2.08 acre commercial lot with frontage on Foley Beach Express.
      21815 Us Highway 98, Foley, AL 36535
      View Details
    • Contact for pricing

      Highway 59 Land For Lease

      Located on Foley's primary retail corridor with excellent visibility.
      3230 S Mckenzie St, Foley, AL 36535
      View Details
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    Foley, AL 36535
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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