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

    3620 Gulf Shrs Pkwy Gulf Shores, AL 36542-2847

    • Medical offices
    • 44,867 SF
    • 6.40 lot acres
    OFF-MARKET
    Value Estimations
    $8,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-0773676
    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

    • Medical offices

    Property Details for 3620 Gulf Shrs Pkwy

    Year built
    2008
    Lot size
    6.40 lot acres
    Property size
    44,867 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    66-02-04-2-001-002.055
    APU
    6602042001002055

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,945,000
      6.5%
      $8,255,000
      7%
      $7,665,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,787,000
      Market price range: $6.87M - $12.2M
      AI Estimate
      $5,645,000
      Market price range: $2.45M - $5.86M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $8,770,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $13,795,000
      Change: +57% Conversion: Moderate
      RESTAURANT
      $13,685,000
      Change: +56% Conversion: Difficult
      OFFICE BUILDING
      $8,835,000
      Change: +1% Conversion: Easy
      RETAIL STORES
      $7,525,000
      Change: -14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $7,385,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Shores
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6794
    Latitude
    30.2944
    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
    $0.00
    $457,600
    $1,564,600
    $2,022,200
    -
    $2,288,000
    $7,823,000
    $10,111,000

    Comparable in this City

    • Value Estimation by Request
      1,340 SF

      2025 1st St

      MEDICAL BUILDING • 1,340 SF
      2025 1st St, Gulf Shores, AL 36542
      View Details
    • Value Estimation
      $2,260,000
      14,738 SF

      3590 Gulf Shrs Pkwy

      MEDICAL BUILDING • 14,738 SF
      3590 Gulf Shrs Pkwy, Gulf Shores, AL 36542-2804
      View Details
    • Value Estimation by Request
      1,827 SF

      315 22nd Ave

      MEDICAL BUILDING • 1,827 SF
      315 22nd Ave, Gulf Shores, AL 36542-3193
      View Details
    • Value Estimation
      $1,525,000
      9,782 SF

      101 15th Ave, Unit 3

      MEDICAL BUILDING • 9,782 SF
      101 15th Ave, Gulf Shores, AL 36542-3501
      View Details
    • Value Estimation by Request
      0.28 Acres

      1700 2nd St

      MEDICAL CLINIC • 0.28 Acres
      1700 2nd St, Gulf Shores, AL 36542-3422
      View Details
    • Value Estimation by Request
      2,498 SF

      204 19th Ave

      MEDICAL BUILDING • 2,498 SF
      204 19th Ave, Gulf Shores, AL 36542-3041
      View Details

    Similar Nearby for Sale

    • $1,400,000
      2,327 SF

      Gulf Shores Office Building Investment

      Beachfront Office Building with Lease
      956 W Beach Blvd, Gulf Shores, AL 36542
      View Details
    • $1,400,000
      2,231 SF

      Gulf Shores Office Building For Sale

      Office building for sale with tenant in place until 2026.
      956 W Beach Blvd, Gulf Shores, AL 36542
      View Details
    • $150,000
      7,089 SF

      Gulf Shores Office Space - Beachfront

      Stunning Gulf Shores office, updated, prime location.
      613 GULF SHORES PKWY, Gulf Shores, AL 36542
      View Details
    • $2,290,000
      27,830 SF

      Corner Property Redevelopment Opportunity

      Prime Gulf Shores corner property near the beach.
      645 Gulf Shores Pkwy, Gulf Shores, AL 36542
      View Details
    • $2,750,000
      4,542 SF

      27,830 SF RE-DEVELOPMENT OPPORTUNITY

      27,830 SF RE-DEVELOPMENT OPPORTUNITY
      645 Gulf Shores Pkwy, Gulf Shores, AL 36542
      View Details
    • $850,000
      6,500 SF

      Gulf Shores Office Building Investment

      Prime Gulf Shores Office Space - 6,500 SF
      191 Northshore Cir, Gulf Shores, AL 36542
      View Details

    Similar Nearby for Lease

    • $1,890 /Mo

      Emaral Square

      Prime Foley Location
      7857 State Highway 59, Foley, AL 36542
      View Details
    • $3,500 /Mo
      1,250 SF

      Gulf Shores Office Space For Lease

      Modern Gulf Shores office, 1250 sq ft.
      2001 W 1st St, Gulf Shores, AL 36542
      View Details
    • $20 SF/Yr
      4,944 SF

      Class A Office Space Rental

      Class A office space available in Gulf Shores, Alabama.
      1585 Gulf Shores Pkwy, Gulf Shores, AL 36542
      View Details
    • $2,650 /Mo
      1,198 SF

      Gulf Shores Office Space Available

      Corner office suite in established Gulf Shores business park for lease.
      1544 W 2Nd St, Gulf Shores, AL 36542
      View Details
    • $3,300 /Mo
      3,000 SF

      Gulf Shores Office Space - Suite C

      Prime Gulf Shores Office, 3000 sq ft
      901 Commerce Dr, Gulf Shores, AL 36542
      View Details
    • $1,500 /Mo

      Gulf Shores Office Space For Lease

      Affordable office suite with four offices in a prime location.
      2033 W 1St St, Gulf Shores, AL 36542
      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.
    3620 Gulf Shrs Pkwy
    Gulf Shores, AL 36542-2847
    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.