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    369 S Mobile St Fairhope, AL 36532
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    369 S Mobile St, Fairhope, AL 36532

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    • Retail space
    • 1,283 SF
    • 0.11 lot acres
    For Sale
    $1,500,000
    View Listing →
    Retail Store Along Mobile Bay For Sale
    $1,500,000
    1,188 SF

    Retail Store Along Mobile Bay

    Retail space with road frontage along Mobile Bay.

    369 S Mobile St, Fairhope, AL 36532
    View Listing
    Property ID
    US03-0517743
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ice Ice Baby Fairhope / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 369 S Mobile St

    Year built
    1945
    Lot size
    0.11 lot acres
    Property type
    Retail space
    APN
    46-03-37-0-011-056
    APU
    4603370011056

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 24, 2024 $499,000 Lee W Morris Joann H Kerr Revocable Trust Warranty Deed —
    Oct 4, 2017 $100,000 C G Godard G & M LLC Warranty Deed · related —
    Sep 12, 2012 $258,500 G & M LLC Godard,c G III Warranty Deed —

    Description

    This prime Fairhope, Alabama retail property, located at 369 S Mobile St, offers a unique investment opportunity. The 1,188 square foot building sits on a 1,283 square foot lot and boasts 154 feet of road frontage along Mobile Bay, ensuring high visibility. Built in 1945 and renovated in 2017, the single-story structure is zoned B3B Tourist Lodging, allowing for diverse uses. The property includes nine parking spaces. Previously operating as a retail space (including a snow cone stand), the site has been approved for a mixed-use building incorporating residential condos above retail space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.9147
    Latitude
    30.5177
    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
    $3,227
    $60,180
    $9,980
    $70,160
    -
    $300,900
    $49,900
    $350,800

    Comparable in this City

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      RETAIL STORES (PERSONAL SERVICES)
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      View Details
    • Value Estimation
      $1,240,000
      5,926 SF

      399 Section St

      RETAIL STORES (PERSONAL SERVICES)
      399 Section St, Fairhope, AL 36532-2634
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    • Value Estimation by Request
      1,997 SF

      5906 Sweet Water Cir

      RETAIL STORES (PERSONAL SERVICES)
      5906 Sweet Water Cir, Fairhope, AL 36532-6892
      View Details
    • Value Estimation
      $1,290,000
      7,631 SF

      199 Baldwin Sq

      RETAIL STORES (PERSONAL SERVICES)
      199 Baldwin Sq, Fairhope, AL 36532-2046
      View Details
    • Value Estimation
      $835,000
      9,036 SF

      8085 Us Hwy 98

      RETAIL STORES (PERSONAL SERVICES)
      8085 Us Hwy 98, Fairhope, AL 36532-5863
      View Details
    • Value Estimation
      $1,110,000
      11,219 SF

      101 Greeno S Rd

      RETAIL STORES (PERSONAL SERVICES)
      101 Greeno S Rd, Fairhope, AL 36532-2019
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Store Along Mobile Bay

      Retail space with road frontage along Mobile Bay available for sale.
      369 S Mobile St, Fairhope, AL 36532
      View Details
    • Contact for pricing
      1,188 SF

      Retail Store Along Mobile Bay

      Retail space with road frontage along Mobile Bay.
      369 S Mobile St, Fairhope, AL 36532
      View Details
    • $1,298,000
      2.10 Acres

      Prime Commercial Land in Fairhope

      2.1-acre B-2 zoned property in a high-growth commercial corridor.
      10413 State Highway 104, Fairhope, AL 36532
      View Details
    • $1,298,000
      2.10 Acres

      Prime Commercial Land in Fairhope

      2.1-acre B-2 zoned property in a high-growth commercial corridor.
      10413 State Highway 104, Fairhope, AL 36532
      View Details
    • Contact for pricing
      45,342 SF

      Rouge Place Retail Opportunity

      Anchor space available in Rouge Place Shopping Center.
      100 Fairhope Ecor Rouge Pl Shopping Ctr, Fairhope, AL 36532
      View Details

    Similar Nearby for Lease

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      3,200 SF

      Fairhope Commercial Space with Apartment

      Versatile commercial property with income-producing apartment on US Hwy 98.
      10090 Us Highway 98, Fairhope, AL 36532
      View Details
    • Contact for pricing

      Downtown Fairhope Retail or Office

      6,000 SF space in the heart of downtown Fairhope.
      150 N Section St, Fairhope, AL 36532
      View Details
    View Listing
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    Fairhope, AL 36532
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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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