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Property profile & analytics
FOR SALE
Retail space
369 Mobile St Fairhope, AL 36532
Individually Owned
2-yr Hold
Free & Clear
Property ID
US03-0517743
For Sale
1 / 12
$1,500,000
369 Mobile St, Fairhope, AL 36532
View Listing →
Property summary
AI-generated overview
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
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Total area
1,283 SF
Lot
0.11 ac (4,620 SF)
APN
46-03-37-0-011-056
UPID
US03-0517743
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
Current use
Occupant on record · Public records
-
Ice Ice Baby Fairhope Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lee W Morris · 2 yrs held
Lee W Morris
since 2024
Last sale
$499,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Fairhope submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairhope 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,227
Tax year 2023
Assessed value
$70,160
Assessed 2023
Previous assessed
$70,160
+0.0% YoY
Effective rate
4.60%
On assessed value
Assessed land
$60,180
Assessed improvement
$9,980
Land market value
$300,900
Improvement market value
$49,900
Total market value
$350,800
Applied tax rate
63.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1945
Heating
FORCED AIR
Cooling
YES
Stories
1
Rooms
2
Bathrooms
1
Total area
1,283 SF
Lot
0.11 ac (4,620 SF)
APN
46-03-37-0-011-056
UPID
US03-0517743
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
Building & site characteristics
From public records
Year built
1945
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
2
Bathrooms
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Lee W Morris
Individual
Free & Clear · 2 yrs held
Mailing address
3201 DANDIN STC, MOBILE, AL 36606
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
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
—
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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