111 Ridgeley StAtmore, AL 36502

Property Details for 111 Ridgeley St

Year built

1962

Construction

WOOD

Lot size

0.13 AC

Property size (Sq ft)

2,470 SF

Property type

Medical offices

Property subtype

Medical centers

APN

26-09-29-2-003-011.000

APU

2609292003011000

Description

This vacant, 3,848-square-foot commercial building in Atmore, Alabama, presents a unique investment opportunity. Located on Ridgeley Street in the heart of downtown, this single-story structure boasts paneled walls, vinyl flooring, and fluorescent lighting throughout. The building features an oversized front space, a private office, two bathrooms, and a large storage/office area. Completely heated and cooled, it's ideally suited for various uses, including daycare, restaurant, or storefront retail. Built in 2021, the property sits on a 0.2-acre lot (APN 119618) and offers a small rental space generating $550 monthly income. Atmore's thriving economy, fueled by diverse industries like agriculture, timber, and textiles, coupled with ongoing downtown revitalization efforts, makes this a promising investment. The city's proactive approach to economic development, including expansion of the industrial park and beautification initiatives, further enhances the property's potential. This is a chance to own a well-maintained building in a growing Alabama city. The asking price is $315,000.

• CAP approach

  CAP return

  Valuation

  6%

  $379,127

  6.5%

  $349,963

  7%

  $324,966

• Comparable approach

  Method

  Valuation

  Relative Method

  $167,174

  Geo Method

  $175,592

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $661,654

  Retail / Commercial

  $344,646

  Mixed-Use / Specialty

  $347,635

  Hospitality / Lodging

  $260,540

  Institutional / Educational

  $362,908

  Residential Income

  $424,602

  Multifamily

  $485,860

  Automotive / Energy

  $311,064

  Parking / Income-Based Land

  $103,177

  Restaurant / Food Service

  $189,810

  Healthcare / Senior Housing

  $352,168

Location Insight

City

Atmore

County

Escambia

State

Alabama

Latitude

31.0258

Longitude

-87.4927

CBSA code

12120

CBSA name

ATMORE, AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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