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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    516 Mckenzie St Foley, AL 36535-1931

    • Banks
    • 3,211 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-1124126
    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

    • United Bank / Bank

    Property Details for 516 Mckenzie St

    Year built
    1977
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property size
    3,211 SF
    Property type
    Banks
    APN
    54-09-29-4-402-002.002
    APU
    5409294402002002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $336,000
      Market price range: $212k - $336k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $265,000
      Current use
      OFFICE BUILDING
      $400,000
      Change: +52% Conversion: Difficult
      MEDICAL BUILDING
      $340,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $330,000
      Change: +26% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $315,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $290,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6844
    Latitude
    30.4011
    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
    $8,121
    $141,040
    $105,040
    $246,080
    -
    $705,200
    $525,200
    $1,230,400

    Comparable in this City

    • Value Estimation
      $285,000
      2,245 SF

      404 Mckenzie St

      FINANCIAL BUILDING • 2,245 SF
      404 Mckenzie St, Foley, AL 36535-1904
      View Details
    • Value Estimation
      $375,000
      4,210 SF

      2405 Mckenzie St

      FINANCIAL BUILDING • 4,210 SF
      2405 Mckenzie St, Foley, AL 36535-3405
      View Details
    • Value Estimation
      $360,000
      9,161 SF

      100 Roosevelt Ave

      FINANCIAL BUILDING • 9,161 SF
      100 Roosevelt Ave, Foley, AL 36535-4512
      View Details
    • Value Estimation
      $420,000
      4,170 SF

      1301 Mckenzie St

      FINANCIAL BUILDING • 4,170 SF
      1301 Mckenzie St, Foley, AL 36535-1722
      View Details
    • Value Estimation
      $725,000
      26,149 SF

      200 Laurel Ave

      FINANCIAL BUILDING • 26,149 SF
      200 Laurel Ave, Foley, AL 36535-1919
      View Details
    • Value Estimation
      $415,000
      7,394 SF

      700 Mckenzie St

      FINANCIAL BUILDING • 7,394 SF
      700 Mckenzie St, Foley, AL 36535-1809
      View Details

    Similar Nearby for Sale

    • $2,178,750
      19.33 Acres

      Foley Beach Express Plazas

      19 Acres, High-Traffic Location
      0 Foley Beach Expy, Foley, AL 36535
      View Details
    • $1,395,000
      3,040 SF

      Prime Foley Carwash Site - Hwy 59

      High-traffic location, flexible options.
      2011 S Mckenzie St, Foley, AL 36535
      View Details
    • $1,250,000
      12,000 SF

      Foley, AL Strip Center Investment

      High-traffic Hwy 59 location; 5 units, 12,000 SF.
      3800 S Mckenzie St, Foley, AL 36535
      View Details
    • $2,700,000
      342 SF

      Prime Foley Commercial Land

      High-traffic Hwy 59 frontage, multiple parcels.
      8437 AL-59, Foley, AL 36535
      View Details
    • $650,000
      4,500 SF

      Foley, AL Retail Building Investment

      Prime Foley location, 4500 SF building, established tenant.
      15450 County Road 73, Foley, AL 36535
      View Details
    • $10,908,000
      48,387 SF

      Freestanding Publix Market For Sale

      High-performing Publix location with a corporate guaranteed lease.
      2498 S Mckenzie St, Foley, AL 36535
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,200 SF

      Retail Space Across From Walmart

      Retail space in Foley Plaza with high visibility and access.
      2155 S Mckenzie St, Foley, AL 36535
      View Details
    • $26 SF/Yr
      2,188 SF

      Foley Retail/Restaurant Space For Rent

      High-visibility retail/restaurant space with drive-thru and ample parking.
      712 S Mckenzie St, Foley, AL 36535
      View Details
    • $5,000 /Mo
      91,476 SF

      Foley Retail Space on Highway

      Metal building on 2.1 acres near Baldwin Beach Express.
      21289 Us Highway 98, Foley, AL 36535
      View Details
    • $26 SF/Yr
      1,449 SF

      Foley Square Retail Space Available

      1449 SF Retail Suite, High Traffic Area
      2558 Mckenzie St, Foley, AL 36535
      View Details
    • Contact for pricing

      Grocery-Anchored Retail Center For Lease

      New retail center anchored by Publix on US Highway 98.
      22349 Us Highway 98, Foley, AL 36535
      View Details
    • $12 SF/Yr
      9,000 SF

      Former Retail Space in Foley

      9,000 SF retail space available for lease.
      151 Riviera Blvd, Foley, AL 36535
      View Details
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    Foley, AL 36535-1931
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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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