Foley Office Building - Great Income Producer

Office for Sale
Catylist Listing ID: 30495233
Property Subtypes: Executive Suites, Office Building
Building Size (RSF): 9,000 SF
Gross Land Area: 31,687 SF
Sale Price: $975,000
Unit Price: $108.33 PSF
Ceiling: 8 ft.
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Building Name: South Commercial Complex
Class of Space: Class B
Usable Size (USF): 9,000 SF
Sale Terms: Cash to Seller, Build-to-Suit
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 1/24/2020

Overview / Comments

Twenty unit commercial office building. Executive suite spaces are either 300 s.f. or 550 s.f. Many have doors between and several tenants rent 1,100 s.f. Building is currently 100% occupied. Each office has its own entrance, electrical meter and bathroom. Tenants include, an engineer, lumber broker, cleaning service, pharmaceutical sales, home health care, etc.
Price includes both building and adjoining lot that can (and should) be developed for additional office space. Each lot measures 97.5 x 162.5. Agent is building owner. Low common area costs. Foley is a fast growing and busy area of Baldwin county.
Building is two stories and has an elevator and two stairwells.
Please contact Steve Barfield for more info 251-455-0922

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Foley, Baldwin County AL
Tax ID/APN: 05-54-08-33-3-000-018.019
Zoning: GENERAL BUSINESS
Property Located Between: Hwy 59 and Michigan Avenue
Property Visibility: Good
Highway Access: Just off of Hwy 59 in Foley.
Area Description: Foley is a fast growing area in Baldwin County.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 4,500 SF
Year Built: 1993
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Two story brick office building with dimensional shingle roof.
Parking Type: Surface
Parking Description: Large parking lot with approximately 30 spaces.
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units
Air Conditioning: Package Unit
Internet Access: DSL, Fiber Optic
Interior Description: Off white walls, blue/grey commercial carpeting and grey vinyl moulding.
Zoning Description: General business
Lot Frontage: 195
Lot Depth: 162.5
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Individual
Legal Description: 97.5' X 162.5' LOT 14A UNIT TWO FOLEY SOUTH COMMERCIAL SUB SLIDE 1676-B IN THE CITY OF FOLEY SEC 33-T7S-R4E (WD)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,563 15,850 24,157
Median Age: 34.38 40.87 40.4
Households: 2,266 6,549 9,830

Contact

Photograph of Listing Agent

Steve Barfield

Core 3 Realty, LLC Gulf Coast CMLS Member
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