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

    2899 Mckenzie St Foley, AL 36535-3413

    • Investment properties
    • 109,300 SF
    • 15.00 lot acres
    OFF-MARKET
    Value Estimations
    $7,875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1071058
    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

    • Primo Water Exchange / Bottled Water Supplier
    • Garden Center at The Home Depot / Fence Supply Store / Garden Furniture Shop
    • Pro Desk at The Home Depot / Lumber Store / Marble Supplier
    • Home Services at The Home Depot / Contractor / Electrician
    • The Home Depot / Home Improvement Store

    Property Details for 2899 Mckenzie St

    Year built
    2000
    Lot size
    15.00 lot acres
    Property size
    109,300 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    61-02-04-3-001-006
    APU
    6102043001006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,269,000
      Market price range: $7.99M - $20.0M
      AI Estimate
      $6,483,000
      Market price range: $4.26M - $17.9M

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6808
    Latitude
    30.3719
    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
    $52,433
    $697,500
    $891,380
    $1,588,880
    -
    $5,092,574
    $6,508,126
    $11,600,700

    Comparable in this City

    • Value Estimation
      $1,375,000
      7,922 SF

      10062 Tony Dr

      STORE/OFFICE (MIXED USE) • 7,922 SF
      10062 Tony Dr, Foley, AL 36535-9272
      View Details
    • Value Estimation by Request
      5,476 SF

      12456 Sandy Ln

      STORE/OFFICE (MIXED USE) • 5,476 SF
      12456 Sandy Ln, Foley, AL 36535-4827
      View Details
    • Value Estimation by Request
      3,360 SF

      15467 State Hwy 59

      STORE/OFFICE (MIXED USE) • 3,360 SF
      15467 State Hwy 59, Foley, AL 36535-2926
      View Details
    • Value Estimation by Request
      1,920 SF

      16385 County Rd 16

      STORE/OFFICE (MIXED USE) • 1,920 SF
      16385 County Rd 16, Foley, AL 36535-5207
      View Details
    • Value Estimation
      $1,305,000
      8,382 SF

      3105 Mckenzie St

      STORE/OFFICE (MIXED USE) • 8,382 SF
      3105 Mckenzie St, Foley, AL 36535-3701
      View Details
    • Value Estimation
      $1,100,000
      9,842 SF

      1351 Mckenzie St, Unit 2

      STORE/OFFICE (MIXED USE) • 9,842 SF
      1351 Mckenzie St, Foley, AL 36535-1722
      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
      View Details
    • $995,000
      4,000 SF

      Foley, AL Commercial Building

      High-traffic Hwy 59 retail space. Great investment opportunity.
      1157 S Mckenzie St, Foley, AL 36535
      View Details
    • $650,000
      4,500 SF

      Foley, AL Retail Building Investment

      Prime Foley location, 4500 SF building, established tenant.
      15450 County Road 73, Foley, AL 36535
      View Details
    • $2,700,000
      342 SF

      Prime Foley Commercial Land

      High-traffic Hwy 59 frontage, multiple parcels.
      8437 AL-59, Foley, AL 36535
      View Details
    • $575,000
      3,590 SF

      Foley, AL Commercial Property

      Versatile 3,590 SF space, prime location.
      18299 US Highway 98, Foley, AL 36535
      View Details
    • $675,000
      2,250 SF

      Foley Beach Commercial Property

      Beachfront acreage with existing house. Investment opportunity.
      12704 Foley Beach Express, Foley, AL 36535
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      454,321 SF

      Prime Foley, AL Land Lease Opportunity

      10 acres, Hwy 98 frontage, ideal for various uses
      0 Barin field road, Foley, AL 36535
      View Details
    • $300 /Mo
      100 SF

      Foley Office Suite - 100 Sq Ft

      Small Office, Prime Foley Location. All Utilities Included.
      417 N Alston St, Foley, AL 36535
      View Details
    • $300 /Mo
      100 SF

      Foley Office Space: 100 Sq Ft

      Modern Foley office, ideal for small business.
      417 N Alston St, 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
    • $12 SF/Yr
      9,000 SF

      Former Retail Space in Foley

      9,000 SF retail space available for lease.
      151 Riviera Blvd, Foley, AL 36535
      View Details
    • $10 SF/Yr
      10,500 SF

      Foley Warehouse with Office Space

      Single tenant warehouse with office space for rent in Foley.
      9381 Hard Dr, Foley, AL 36535
      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.
    2899 Mckenzie St
    Foley, AL 36535-3413
    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.