PORTICO Final Phase
Retail-Commercial
for Lease
| Catylist Listing ID: |
30809913 |
| Property Subtypes: |
Mixed Use, Restaurant, Street Retail, Other
|
| Building Status: |
Proposed |
| Contiguous Space: |
2,000 - 4,650 SF |
| Total Available: |
8,980 SF |
| Gross Building Area: |
See Agent |
| Lease Rate: |
$36 - 40 PSF (Annual)
|
| Base Monthly Rent: |
$12,990 - 15,500 |
| Lease Types: |
NNN |
| Building Name: |
PORTICO |
| Last Updated: |
4/19/2024 |
Overview / Comments
The final phase of PORTICO, located in Downtown Fairhope, AL, will consist of two mixed-use buildings designed to accommodate commercial uses on the ground floor, with residential offerings on the upper 2 floors. The buildings will be separated by a well-appointed common courtyard area - offering appealing outdoor space for the tenants. The commercial space will consist of a total of approximately 8,980 SF; 4,330 +/- SF in the western building and 4,650+/- SF in eastern building. Delivery is anticipated late 2024.
The architectural elements of the buildings will compliment and reflect the proven quality and appeal of the completed phases of PORTICO - consisting of +15,000 SF of commercial/office space and 12 luxury cottages (9 currently under construction).
|
| Level/Floor: |
1 |
| Space Available: |
4,330 SF |
| Minimum Divisible: |
2,000 SF |
| Lease Rate: |
$36 - 40 PSF (Annual)
$12,990 - 14,433 (Monthly)
|
| Lease Type: |
NNN |
| Space Description: |
Final phase of PORTICO, a mixed-use development prominently positioned on Fairhope Ave, in Downtown Fairhope, AL. The two new mixed-use buildings are designed to accommodate 1st floor commercial tenants, with residential offerings on the upper 2 floors. The western building (557 Fairhope Ave) will have approximately 4,330 SF, and the eastern building (559 Fairhope Ave) will consist of approximately 4,650 SF. The ground floor spaces will have frontage along Fairhope Ave, and will have access and use of a common courtyard and outdoor space. Now pre-leasing. Call for details. |
| Space Subcategory: |
Mixed Use, Net Leased |
| Date Available: |
5/1/2025 |
| Lease Term: |
60 Months |
| Space Type: |
New |
| Operating Expenses |
$5 PSF (Annual) |
| Rent Escalators |
Step-Up Lease |
| Rent Escalators Description |
Base rent to increase 3% / year |
| Space Available: |
4,650 SF |
| Minimum Divisible: |
2,000 SF |
| Lease Rate: |
$36 - 40 PSF (Annual)
$13,950 - 15,500 (Monthly)
|
| Lease Type: |
NNN |
| Space Description: |
Final phase of PORTICO, a mixed-use development prominently positioned on Fairhope Ave, in Downtown Fairhope, AL. The two new mixed-use buildings are designed to accommodate 1st floor commercial tenants, with residential offerings on the upper 2 floors. The western building (557 Fairhope Ave) will have approximately 4,330 SF, and the eastern building (559 Fairhope Ave) will consist of approximately 4,650 SF. The ground floor spaces will have frontage along Fairhope Ave, and will have access and use of a common courtyard and outdoor space. Now pre-leasing. Call for details. |
| Space Subcategory: |
Mixed Use, Net Leased |
| Date Available: |
6/30/2024 |
| Lease Term: |
60 Months |
| Space Type: |
New |
| Operating Expenses |
$5 PSF (Annual) |
| Rent Escalators |
Step-Up Lease |
| Rent Escalators Description |
Base Rent to increase 3% /year |
Additional Details
| Nearest MSA: |
Daphne-Fairhope-Foley |
| County: |
Baldwin |
| Taxing Authority: |
Baldwin County |
| Tax ID/APN: |
05-46-03-37-0-007-076.517 |
| Retail Clientele: |
General, Business, Tourist |
| Property Located Between: |
Adjacent to Fairhope Post Office |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Fairhope Ave |
| Feet of Frontage: |
500 |
| Highway Access: |
Direct access from Fairhope Ave |
| Site Description: |
Mixed-use site in Downtown Fairhope |
| Tenancy: |
Multiple Tenants |
| Property Condition: |
Excellent |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Parking Type: |
Surface |
| Parking Description: |
Common surface parking lot, as well as street parking along Fairhope Ave and Brown |
| Part of Planned Development?: |
Yes |
| Lot Frontage: |
500 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,127 |
13,274 |
31,182 |
| Median Age: |
51.27 |
46.47 |
43.16 |
| Households: |
2,039 |
5,981 |
12,679 |
|
© Copyright 2024 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Gulf Coast CMLS nor
Moody's assume any liability for errors or omissions.
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