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Property profile & analytics
FOR SALE
Turn key restaurants
3060 S Mckenzie St Foley, AL 36535
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US03-0152016
For Sale
1 / 4
$4,073,000
3060 S Mckenzie St, Foley, AL 36535
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2001
Construction
WOOD
Total area
7,497 SF
Lot
1.5 ac (65,340 SF)
APN
61-03-08-1-001-001.010
UPID
US03-0152016
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$1.80M
Owner & transaction history
First Watch Restaurants INC · 1 yrs held
First Watch Restaurants INC
since 2025
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.3M
+0.8%
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 Foley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Foley 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
$1,800,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,285,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,305,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.80M (Aug 15 2024)
Last sale anchor
$1.80M
Aug 15 2024
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
$240 / 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
$12,727
Tax year 2023
Assessed value
$385,660
Assessed 2023
Previous assessed
$385,660
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$211,240
Assessed improvement
$174,420
Land market value
$1,056,200
Improvement market value
$872,100
Total market value
$1,928,300
Applied tax rate
7.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
2001
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
7,497 SF
Lot
1.5 ac (65,340 SF)
APN
61-03-08-1-001-001.010
UPID
US03-0152016
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
RESTAURANT Current
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
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
2001
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
First Watch Restaurants INC
Entity
Mailing address
PO BOX 460169, HOUSTON, TX 77056-8169
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2025
—
First Watch Restaurants INC
Foley Oc Venture LLC
Deed
—
Aug 15, 2024
$1,800,000
Foley Oc Venture LLC
Arg Ocpool4001 LLC
Warranty Deed
—
Aug 4, 2020
—
Arg Ocpool4001 LLC
Arc Db5prop001 LLC
Warranty Deed
$715,000,000 · Column Financial INC
Oct 7, 2013
$2,810,500
Arc Db5prop001 LLC
Fchux LLC
Grant Deed
—
Dec 30, 2011
—
Fchux LLC
Store Capital Acquisitions LLC
Special Warranty Deed
$25,100,000 · Wells Fargo Bank NA
Oct 24, 2011
—
Store Capital Acquisitions LLC
Ocharleys INC
Warranty Deed
—
—
—
Arc Db5prop001 LLC
—
Deed Of Trust
related
$655,000,000 · Barclays Bk/plc
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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