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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Retail space
150 Section St Fairhope, AL 36532-2419
Entity Owned
Free & Clear
Property ID
US03-2928438
Property summary
AI-generated overview
This exceptional 6,000 square foot commercial property, located at 150 N Section St, Fairhope, AL, presents a unique opportunity in the heart of downtown. Boasting 66 feet of frontage on Section Street, this single-story building offers flexible lease options, accommodating tenants seeking spaces ranging from 1,200 to 6,000 contiguous square feet. Currently configured as open-plan retail space, the property is adaptable to various uses, including traditional office, executive office, or restaurant concepts. The building is zoned B-2, allowing for a wide range of commercial activities. A complete interior and exterior renovation is planned, commencing January 1st, 2025, as evidenced by the provided renderings. This renovation will modernize the space and enhance its appeal. The property is available for lease as a whole or can be divided to suit multiple tenants. The lease is a NNN (Net, Net, Net) agreement. The property's location in the Fairhope - Downtown submarket, near Pine Ave, ensures high visibility and accessibility. This is an excellent opportunity to secure a prominent space in a thriving downtown area. Contact us today to learn more about this exciting opportunity.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1957
Total area
6,029 SF
Lot
0.18 ac (7,841 SF)
APN
46-03-37-0-007-068.508
UPID
US03-2928438
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Green Gates Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$747k
Blend (final)
Blend
$635k
Owner & transaction history
FST & 150 SECTION LLC
FST & 150 SECTION LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fairhope submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairhope submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,010,000
Current use
COMMERCIAL (GENERAL)
$990,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$105 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,723
Tax year 2023
Assessed value
$167,900
Assessed 2023
Previous assessed
$167,900
+0.0% YoY
Effective rate
4.60%
On assessed value
Assessed land
$126,320
Assessed improvement
$41,580
Land market value
$631,600
Improvement market value
$207,900
Total market value
$839,500
Applied tax rate
63.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1957
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
1
Total area
6,029 SF
Lot
0.18 ac (7,841 SF)
APN
46-03-37-0-007-068.508
UPID
US03-2928438
Jurisdiction
BALDWIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$990,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
FST & 150 SECTION LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 804, FAIRHOPE, AL 36533-0804
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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