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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2524 Mckenzie St Foley, AL 36535-3406

    • Strip malls
    • 69,845 SF
    • 10.00 lot acres
    OFF-MARKET
    Value Estimations
    $2,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-2947014
    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

    • Spirit Halloween / Costume Store / Party Store

    Property Details for 2524 Mckenzie St

    Year built
    2019
    Lot size
    10.00 lot acres
    Property size
    69,845 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    61-03-05-1-001-012.007
    APU
    6103051001012007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,200,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6859
    Latitude
    30.3782
    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
    $69,465
    $0.00
    $2,105,000
    $2,105,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $735,000
      17,999 SF

      2498 Mckenzie St

      SHOPPING CENTER, STRIP CENTER • 17,999 SF
      2498 Mckenzie St, Foley, AL 36535-3404
      View Details
    • Value Estimation by Request
      63,096 SF

      2410 Mckenzie St

      SHOPPING CENTER, STRIP CENTER • 63,096 SF
      2410 Mckenzie St, Foley, AL 36535-3404
      View Details
    • Value Estimation
      $940,000
      22,301 SF

      2450 Mckenzie St

      SHOPPING CENTER, STRIP CENTER • 22,301 SF
      2450 Mckenzie St, Foley, AL 36535-3404
      View Details
    • Value Estimation
      $1,065,000
      57,864 SF

      Mckenzie S St

      SHOPPING CENTER, STRIP CENTER • 57,864 SF
      Mckenzie S St, Foley, AL 36535
      View Details
    • Value Estimation
      $1,000,000
      53,454 SF

      804 Mckenzie St

      SHOPPING CENTER, STRIP CENTER • 53,454 SF
      804 Mckenzie St, Foley, AL 36535-1811
      View Details
    • Value Estimation
      $1,120,000
      62,552 SF

      1104 Mckenzie St

      SHOPPING CENTER, STRIP CENTER • 62,552 SF
      1104 Mckenzie St, Foley, AL 36535-1817
      View Details

    Similar Nearby for Sale

    • $1,395,000
      3,040 SF

      Prime Foley Carwash Site - Hwy 59

      High-traffic location, flexible options.
      2011 S Mckenzie St, Foley, AL 36535
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    • $1,250,000
      12,000 SF

      Foley, AL Strip Center Investment

      High-traffic Hwy 59 location; 5 units, 12,000 SF.
      3800 S Mckenzie St, Foley, AL 36535
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    • $2,700,000
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      Prime Foley Commercial Land

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      8437 AL-59, Foley, AL 36535
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    • $1,200,000

      Prime Foley Commercial Land Opportunity

      Commercial land in Foley, Alabama, near OWA, Orange Beach.
      21112 Miflin Rd, Foley, AL 36535
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    • $2,178,750
      19.33 Acres

      Foley Beach Express Plazas

      19 Acres, High-Traffic Location
      0 Foley Beach Expy, Foley, AL 36535
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    • $2,500,000
      3,042 SF

      Freestanding Hardee's Restaurant For Sale

      Excellent Hardee’s restaurant with drive-through in a high-traffic location.
      2935 S Mckenzie St, Foley, AL 36535
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      13,000 SF

      Foley Island Shopping Center Suites

      Mixed-use neighborhood center with suites for retail, office, medical.
      1103-1155 N Mckenzie St, Foley, AL 36535
      View Details
    • Contact for pricing

      Grocery-Anchored Retail Center For Lease

      New retail center anchored by Publix on US Highway 98.
      22349 Us Highway 98, Foley, AL 36535
      View Details
    • $18 SF/Yr
      219,888 SF

      Foley Square Retail Opportunity

      Prime Alabama retail space available. High traffic, strong demographics.
      2434 Mckenzie St, Foley, AL 36535
      View Details
    • $28 SF/Yr
      11,984 SF

      New Foley Retail Strip Center

      Prime Foley location, 11,984 SF available
      915 Mckenzie St, Foley, AL 36535
      View Details
    • Contact for pricing

      Retail Space in Growing County

      Retail space in a high-traffic shopping center near beaches.
      2601 S 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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    Foley, AL 36535-3406
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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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