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    Property profile & analytics

    51 Greeno N Rd, Unit 3 Fairhope, AL 36532-7314

    • Drive through restaurants
    • 4,079 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Dec 16, 2020
    $1,751,000
    Value Estimations
    $2,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1359166
    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

    • CVS Photo / Photo Shop / Print Shop
    • Guthrie's of Fairhope / Chicken Restaurant / American Restaurant
    • CDReload - Online Bitcoin ATM / Money Transfer Service / Crypto Atm
    • CDReload Instant Bitcoin / Crypto Atm
    • CVS / Stationery Store / Vitamin & Supplements Store

    Property Details for 51 Greeno N Rd

    Year built
    2008
    Lot size
    0.77 lot acres
    Property size
    4,079 SF
    Property type
    Drive through restaurants
    APN
    46-04-17-1-000-092.513
    APU
    4604171000092513

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,340,000
      ML approach
      $2,290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,935,000
      Market price range: $482k - $2.00M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.8868
    Latitude
    30.5244
    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
    $12,319
    $129,200
    $138,600
    $267,800
    -
    $646,000
    $693,000
    $1,339,000

    Comparable in this City

    • Value Estimation by Request
      2,603 SF

      19070 Greeno Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,603 SF
      19070 Greeno Rd, Fairhope, AL 36532-3864
      View Details
    • Value Estimation by Request
      2,407 SF

      321 Greeno S Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,407 SF
      321 Greeno S Rd, Fairhope, AL 36532-1919
      View Details
    • Value Estimation
      $880,000
      3,094 SF

      111 Greeno N Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,094 SF
      111 Greeno N Rd, Fairhope, AL 36532-2911
      View Details
    • Value Estimation by Request
      411 SF

      18974 Section St

      DRIVE-THRU RESTAURANT, FAST FOOD • 411 SF
      18974 Section St, Fairhope, AL 36532-5209
      View Details
    • Value Estimation
      $560,000
      3,005 SF

      19755 Greeno Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,005 SF
      19755 Greeno Rd, Fairhope, AL 36532-3843
      View Details
    • Value Estimation by Request
      160 SF

      9946 County Rd 32

      DRIVE-THRU RESTAURANT, FAST FOOD • 160 SF
      9946 County Rd 32, Fairhope, AL 36532-5078
      View Details

    Similar Nearby for Sale

    • $1,014,999
      6,720 SF

      Horse Shoe Saloon: Fairhope, AL

      Thriving Restaurant/Bar, Prime Location
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    • $199,000
      4,916 SF

      Fairhope Restaurant & Bar For Sale

      Thriving restaurant, prime Fairhope location. High traffic, strong sales.
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    • $1,900,000
      2,664 SF

      Downtown Fairhope Corner Lot

      Prime downtown location with restaurant and rental cottage.
      51 S Church St, Fairhope, AL 36532
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    • $1,500,000
      1,188 SF

      Bay Break: Fairhope Retail Gem

      Mixed-use property, high visibility, investment opportunity.
      369 Mobile St, Fairhope, AL 36532
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    • $1,200,000
      1,500 SF

      Fairhope Laundromat - High Demand!

      Profitable, established laundromat in prime location.
      9965 Twin Beech Rd, Fairhope, AL 36532
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    • $1,500,000
      1,188 SF

      Prime Fairhope Retail Opportunity

      Historic Bayfront Building, 1,188 SF, Sale/Lease
      369 S Mobile St, Fairhope, AL 36532
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    Similar Nearby for Lease

    • $28 SF/Yr
      85,529 SF

      Fairhope Retail Center Opportunity

      Prime Fairhope location, flexible space available
      320 Eastern Shore Shopping Ctr, Fairhope, AL 36532
      View Details
    • $39 SF/Yr
      24,759 SF

      Fairhope Retail Center: Prime Location

      New Mixed-Use Retail Space Available
      557-559 Fairhope Ave, Fairhope, AL 36532
      View Details
    • $36 SF/Yr
      6,000 SF

      Downtown Fairhope Office Space

      Prime Fairhope location, flexible suites available
      150 Section St, Fairhope, AL 36532
      View Details
    • $1.60 SF/Yr
      22,500 SF

      US 98 Prime Retail Ground Lease

      High-traffic location, build-to-suit opportunity.
      0 Greeno Rd, Fairhope, AL 36532
      View Details
    • $3,500 /Mo
      22,500 SF

      High Traffic Area Ground Lease

      Ground lease opportunity in high-traffic area suitable for various businesses.
      355 S Greeno Rd, Fairhope, AL 36532
      View Details
    • $8,900 /Mo
      3,080 SF

      Downtown Fairhope Restaurant Space

      Prime restaurant space in the heart of downtown Fairhope.
      61 N Section St, Fairhope, AL 36532
      View Details
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    51 Greeno N Rd, Unit 3
    Fairhope, AL 36532-7314
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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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