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    115 Fairhope Ave Fairhope, AL 36532
    Property profile & analytics

    115 Fairhope Ave, Fairhope, AL 36532

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    • Hotels
    • 2,080 SF
    Off-Market
    Property ID
    US03-2868934
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 115 Fairhope Ave

    Year built
    1910
    Property type
    Hotels

    Description

    This charming 2-story, 2,080 sq ft hotel in Fairhope, Alabama, presents a unique investment opportunity. Built in 1910 and renovated in 1952, this property boasts original flooring, antique windows, and historic light fixtures. Located on a double lot (.314 acres) in the heart of Fairhope, it's just two blocks from Mobile Bay and downtown, offering stunning sunset views and easy access to local amenities. The B-3 zoning allows for rental income and potential capital appreciation. The hotel features four bedrooms and three bathrooms, plus a separate upstairs apartment with a full kitchen, ideal for guests. The property also offers the potential to add a mother-in-law suite. The asking price is $899,999, with a price per square foot of $432.69. While the elevator is currently non-operational, it could be easily restored. All information should be verified by the buyer during due diligence. This property is a rare chance to own a piece of Fairhope's history and capitalize on its thriving tourism industry. The property is situated at 115 Fairhope Avenue, Fairhope, AL 36532, and is held under a Fee Simple Leasehold ownership. Directions are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.9072592
    Latitude
    30.523287

    Comparable in this City

    • Contact for pricing

      Organically Certified Blueberry Farm

      44.4-acre farm with event venue and B&B accommodations.
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      RV Lot with Outdoor Kitchen

      Upscale RV lot with pavilion and outdoor kitchen.
      22434 Fairhope Motorcoach Loop, Fairhope, AL 36532
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      Improved RV Lot in Fairhope

      RV lot with pergola, outdoor kitchen, and community amenities.
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      Furnished Micro-Cottages Near Downtown Fairhope

      Investment opportunity: fully furnished micro-cottages near downtown Fairhope.
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      Downtown Fairhope Corner Lot

      Prime downtown location with restaurant and rental cottage.
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      Farm and Event Venue Land

      Organically certified blueberry farm with a southern-style barn venue and a freshwater lake featuring dock and water access.
      12562 Mary Ann Beach Road Ext, Fairhope, AL 36532
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    Similar Nearby for Sale

    • Contact for pricing

      Organically Certified Blueberry Farm

      44.4-acre farm with event venue and B&B accommodations.
      12562 Mary Ann Beach Road Ext, Fairhope, AL 36532
      View Details
    • $294,500
      31.00 Acres

      RV Lot with Outdoor Kitchen

      Upscale RV lot with pavilion and outdoor kitchen.
      22434 Fairhope Motorcoach Loop, Fairhope, AL 36532
      View Details
    • $164,500
      31.00 Acres

      Improved RV Lot in Fairhope

      RV lot with pergola, outdoor kitchen, and community amenities.
      22267 Fairhope Motorcoach Loop, Fairhope, AL 36532
      View Details
    • Contact for pricing

      Furnished Micro-Cottages Near Downtown Fairhope

      Investment opportunity: fully furnished micro-cottages near downtown Fairhope.
      614 Nichols Ave, Fairhope, AL 36532
      View Details
    • Contact for pricing
      2,664 SF

      Downtown Fairhope Corner Lot

      Prime downtown location with restaurant and rental cottage.
      51 S Church St, Fairhope, AL 36532
      View Details
    • $4,800,000
      44.40 Acres

      Farm and Event Venue Land

      Organically certified blueberry farm with a southern-style barn venue and a freshwater lake featuring dock and water access.
      12562 Mary Ann Beach Road Ext, Fairhope, AL 36532
      View Details
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    Fairhope, AL 36532
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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.

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