Gulf Shores Commercial Strip Center For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30135623
Property Subtypes: Mixed Use
Condo? Yes
Building Size (RSF): 25,742 SF
Gross Building Area: See Agent
Sale Price: $2,462,000
Ceiling: 14 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Palm South Center
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/26/2017

Overview / Comments

Fantastic Investment Opportunity on Hwy 59 in Gulf Shores! Central location convenient to Gulf Shores and Foley. Total square footage is 25,742 SF with 10 ea individual units approved and recorded as Office Condos. Can be purchased as a whole or individually. There are 8 ea units @ 2,671 SF available for $259,000 each and 2 ea units @ 2,187 SF available for $195,000 each. Current CAM is $1.70/SF and offering a 4% commission to the selling Agent/Broker.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Baldwin County Gulf Shores AL
Tax ID/APN: 05-66-03-05-1-001-024.000
Is Condo?: Yes
Retail Clientele: Business
Property Located Between: Located between the new Gulf Shores Visitor Center & the Little White Chapel
Property Visibility: Good
Largest Nearby Street: Gulf Shores Parkway/Hwy 59
Traffic/Vehicle Count: 38,000
Highway Access: Directly off Gulf Shores Parkway/Hwy 59.
Airports: Jack Edwards Regional Airport
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,671 SF
Property Condition: Good
Year Built: 2000
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Commercial Grade Metal Flat Roof & Stucco Exterior with Covered Concrete Walkway in front of the Units.
Total Parking Spaces: 100
Parking Type: Surface
Parking Description: Asphalt paved black-top stripped parking. Additional parking in the rear of the building.
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Internet Access: Other
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 12,761 16,059
Median Age: 40.16 40.23
Households: 5,689 7,059

Contact

Photograph of Listing Agent

Kenneth Montgomery

Charter Landing, Inc. Gulf Coast CMLS Member
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