Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24833 Commercial Ave Orange Beach, AL 36561-3845

    • Retail properties
    • 6,790 SF
    • 0.60 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2663586
    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

    • Sunshine / Association Or Organization

    Property Details for 24833 Commercial Ave

    Year built
    1990
    Lot size
    0.60 lot acres
    Property size
    6,790 SF
    Property type
    Retail properties
    APN
    65-03-06-0-000-002.009
    APU
    6503060000002009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $890,000
      Current use
      MEDICAL BUILDING
      $1,325,000
      Change: +49% Conversion: Difficult
      OFFICE BUILDING
      $1,235,000
      Change: +38% Conversion: Difficult
      RETAIL STORES
      $1,140,000
      Change: +28% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,115,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange Beach
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6002
    Latitude
    30.2909
    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
    $4,817
    $72,000
    $78,540
    $150,540
    -
    $529,932
    $578,068
    $1,108,000

    Comparable in this City

    • Value Estimation by Request
      560 SF

      4387 Public Works Rda9

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 560 SF
      4387 Public Works Rda9, Orange Beach, AL 36561
      View Details
    • Value Estimation by Request
      1,625 SF

      4387 Public Works Rda1

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,625 SF
      4387 Public Works Rda1, Orange Beach, AL 36561
      View Details
    • Value Estimation by Request
      672 SF

      4387 Public Works Rdf30

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 672 SF
      4387 Public Works Rdf30, Orange Beach, AL 36561
      View Details
    • Value Estimation by Request
      487 SF

      4387 Public Works Rde42

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 487 SF
      4387 Public Works Rde42, Orange Beach, AL 36561
      View Details
    • Value Estimation by Request
      487 SF

      4387 Public Works Rde12

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 487 SF
      4387 Public Works Rde12, Orange Beach, AL 36561
      View Details
    • Value Estimation by Request
      487 SF

      4387 Public Works Rde49

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 487 SF
      4387 Public Works Rde49, Orange Beach, AL 36561
      View Details

    Similar Nearby for Sale

    • $1,650,000
      8,226 SF

      Orange Beach Commercial Building For Sale

      High-traffic location, 6,390+ sq ft, .84 acres
      27121 Canal Rd, Orange Beach, AL 36561
      View Details
    • $125,000
      2,170 SF

      Turn-Key Smart Bar Opportunity

      Smart Bar in The Wharf with 39 beers on tap.
      4851 Wharf Pkwy, Orange Beach, AL 36561
      View Details
    • $6,200,000

      Prime Commercial Asset on Perdido Beach

      Dual-income property on 2.1 acres in the heart of Orange Beach.
      24951 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $1,175,000
      0.75 Acres

      Prime Beachfront Commercial Land

      High-traffic location, ideal for development. Zoned General Business.
      22973 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $465,000
      685 SF

      Updated Condo with Gulf Views

      Charming 1-bedroom condo in Orange Beach with updated features.
      24160 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $415,000
      780 SF

      Beachside Condo with Gulf Views

      Two-bedroom condo with beach access and community amenities.
      23060 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      417,720 SF

      The Wharf: Prime Office Space

      Gulf Coast Office, 104 sq ft Available
      23101 Canal Rd, Orange Beach, AL 36561
      View Details
    • $8,800 /Mo
      2,314 SF

      Orange Beach Retail Space - Prime Location

      Beachfront retail condo, 2314 sq ft, ideal for restaurant.
      27269 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • Contact for pricing
      5,497 SF

      Prime Retail Space in Orange Beach

      High-visibility retail space in the heart of Orange Beach, AL.
      25601 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $25 SF/Yr
      5,459 SF

      Orange Beach Office Space For Lease

      Prime 5,459 SF office, Perdido Beach Blvd.
      24951 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $12,500 /Mo
      2,874 SF

      Orange Beach Office Space for Lease

      Prime location, 2874 sq ft, $12,500/month
      25239 Perdido Beach Blvd, Orange Beach, AL 36561
      View Details
    • $950,000

      Foley Beach Commercial Lot

      Commercial lot for rent near Gulf Shores High School.
      Foley Beach Expy, Orange Beach, AL 36561
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24833 Commercial Ave
    Orange Beach, AL 36561-3845
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.