1235 Mckenzie StFoley, AL 36535

Property Details for 1235 Mckenzie St

Year built

1994

Lot size

6.60 AC

Property size (Sq ft)

49,913 SF

Property type

Retail space

APN

54-08-33-2-000-016.003

APU

5408332000016003

Description

This exceptional 0.5-acre pad site presents a remarkable ground lease opportunity in Foley, Alabama's thriving retail corridor. Strategically located at 1235 S McKenzie St, 36535, this property boasts unparalleled visibility and accessibility. Situated directly adjacent to a Winn-Dixie supermarket, this location benefits from significant existing foot traffic and consumer draw. The site is conveniently positioned near the Foley Beach Express, providing easy access for both local residents and tourists. Furthermore, its proximity to the Tanger Outlets and other major national retailers ensures a high volume of potential customers. This prime location offers an ideal opportunity for a variety of retail businesses seeking exposure in a bustling commercial area. The property is situated in Baldwin County, Alabama, and offers a single-tenant ground lease arrangement. The site's 0.5-acre size provides ample space for development, while its location within a well-established retail hub guarantees a strong return on investment. Less than 15 miles from the beach, this property benefits from both local and tourist traffic. This is a rare opportunity to secure a highly visible and accessible location in one of Foley's most desirable commercial areas.

• CAP approach

  CAP return

  Valuation

  6%

  $7,544,860

  6.5%

  $6,964,490

  7%

  $6,467,030

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,513,340

  Geo Method

  $3,690,250

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $13,370,500

  Mixed-Use / Specialty

  $7,024,900

  Hospitality / Lodging

  $5,264,920

  Office

  $7,071,950

  Institutional / Educational

  $7,333,530

  Residential Income

  $8,580,230

  Multifamily

  $9,818,120

  Automotive / Energy

  $6,285,880

  Parking / Income-Based Land

  $2,084,970

  Restaurant / Food Service

  $3,835,620

  Healthcare / Senior Housing

  $7,116,490

Location Insight

City

Foley

County

Baldwin

State

Alabama

Latitude

30.3932

Longitude

-87.6817

CBSA code

19300

CBSA name

DAPHNE-FAIRHOPE, AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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