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    Property profile & analytics

    119 Mckenzie St Foley, AL 36535-3532

    • Hotels
    • 11,194 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Oct 08, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1052978
    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.

    Current Use by Public Records

    • Tropic Sun Salon / Beauty Salon / Nail Salon
    • Hotel Magnolia / Hotel / Event Venue
    • Soul Bowlz Foley / Restaurant / Health Food Restaurant

    Property Details for 119 Mckenzie St

    Year built
    1908
    Lot size
    0.36 lot acres
    Property size
    11,194 SF
    Property type
    Hotels
    APN
    54-09-29-1-101-007
    APU
    5409291101007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6842
    Latitude
    30.4072
    CBSA code
    19300
    CBSA name
    DAPHNE-FAIRHOPE, AL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,829
    $25,620
    $272,220
    $297,840
    -
    $248,183
    $2,637,017
    $2,885,200

    Comparable in this City

    • Value Estimation
      $5,490,000
      13,842 SF

      1517 Mckenzie St

      HOTEL • 13,842 SF
      1517 Mckenzie St, Foley, AL 36535-1726
      View Details
    • Value Estimation
      $4,615,000
      96,427 SF

      1070 Owa Blvd

      HOTEL • 96,427 SF
      1070 Owa Blvd, Foley, AL 36535-5921
      View Details
    • Value Estimation
      $1,760,000
      57,473 SF

      2750 Mckenzie St, Unit 1

      HOTEL • 57,473 SF
      2750 Mckenzie St, Foley, AL 36535-3410
      View Details
    • Value Estimation
      $1,060,000
      49,588 SF

      3152 Abbey Ln

      HOTEL • 49,588 SF
      3152 Abbey Ln, Foley, AL 36535-7479
      View Details
    • Value Estimation
      $860,000
      41,265 SF

      150 Riviera Blvd

      HOTEL • 41,265 SF
      150 Riviera Blvd, Foley, AL 36535-3495
      View Details
    • Value Estimation
      $1,230,000
      45,404 SF

      3155 Abbey Ln

      HOTEL • 45,404 SF
      3155 Abbey Ln, Foley, AL 36535-7470
      View Details

    Similar Nearby for Sale

    • New
      $265,000
      224 SF

      Improved RV Lot in Foley

      Luxury RV lot with casita and outdoor living space.
      837 Carrozza Ln, Foley, AL 36535
      View Details
    • $114,500
      0.08 Acres

      Improved RV Lot in Foley, AL

      Luxury RV resort lot with concrete pad and patio.
      573 Portofino Loop, Foley, AL 36535
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    • $295,000

      Improved RV Lot with Casita

      Luxury RV lot with custom casita and outdoor kitchen.
      456 Portofino Loop, Foley, AL 36535
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    • $169,999

      Improved RV Lot in Foley, AL

      Premium RV lot with amenities in a luxury resort.
      256 Magnifico Dr, Foley, AL 36535
      View Details
    • $127,500

      RV Lot in Luxury Resort

      North-facing RV lot in a top-rated luxury resort.
      465 Portofino Loop, Foley, AL 36535
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    • $132,000
      0.07 Acres

      Improved RV Lot in Foley

      RV lot with amenities near amusement parks and beaches.
      3063 Griswold Blvd, Foley, AL 36535
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    Similar Nearby for Lease

    • $20 SF/Yr
      73,482 SF

      Foley Medical Office Space for Lease

      Prime Medical Office, 5,000 SF Available
      1801 Mckenzie St, Foley, AL 36535
      View Details
    • $26 SF/Yr
      2,188 SF

      Foley Retail/Restaurant Space For Rent

      High-visibility retail/restaurant space with drive-thru and ample parking.
      712 S Mckenzie St, Foley, AL 36535
      View Details
    • $5,000 /Mo
      91,476 SF

      Foley Retail Space on Highway

      Metal building on 2.1 acres near Baldwin Beach Express.
      21289 Us Highway 98, Foley, AL 36535
      View Details
    • $20 SF/Yr
      4,593 SF

      Foley Medical Office Space - Suite 1809

      Prime Medical Office, Hwy 59 Access
      1817 N McKenzie St, Foley, AL 36535
      View Details
    • Contact for pricing
      48,787 SF

      Hwy 59 Commercial Land Lease

      Prime Foley, AL location. 1-acre commercial lot.
      0 Mckenzie St, Foley, AL 36535
      View Details
    • $22 SF/Yr
      1,200 SF

      Retail Space Across From Walmart

      Retail space in Foley Plaza with high visibility and access.
      2155 S Mckenzie St, Foley, AL 36535
      View Details
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    119 Mckenzie St
    Foley, AL 36535-3532
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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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