Foley Automotive Shop

Special Purpose for Sale
Catylist Listing ID: 30871917
Building Size (RSF): 7,900 SF
Gross Land Area: 0.29 Acres
Sale Price: $2,800,000
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 7,900 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/30/2024

Overview / Comments

Introducing a prime investment opportunity in Foley, AL! The 7,900 +/- sq. ft. building, constructed in 1930 and part of the Foley Historic District, offers an ideal space for redevelopment into a hospitality or retail concept, whether an event venue, restaurant, coffee shop, beauty salon, or retail boutique. It could also work well as a prospective office building! The building is in a highly visible spot along N. McKenzie St/Highway 59, one of the main routes to popular beaches. This location is near popular eateries and diagonal from Foley Centennial Plaza, which hosts many events.

Zoned B-1A and strategically located in the heart of the Foley, this property presents a rare chance to capitalize on a sought-after location in a growing market. Due to its designation as part of Foley’s Historic Main Street District, there may be grants available to assist with revitalization.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 05-54-09-29-1-000-172.000
Zoning: B-1A
Property Located Between: HWY 59 (N McKenzie Street) and N Alston Street
Property Visibility: Excellent
Largest Nearby Street: HWY 59 (N McKenzie Street)
Feet of Frontage: 100
Traffic/Vehicle Count: 27,699
Highway Access: HWY 59 (N McKenzie Street)
Airports: KMOB, KBFM, KPNS
Area Description: Foley is strategically located within Baldwin county, the 10th fastest growing metro region in the USA in 2023. It offers access to a wide range of amenities, including Tanger Outlets, OWA amusement park, and the white-sand beaches of Gulf Shores and Orange Beach. Foley itself has a thriving, pro-business environment, along with strong population growth.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,900 SF
Property Condition: Fair
Year Built: 1930
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Parking Description: ~20 parking spots
Heat Type: Electricity
Heat Source: Central
Lot Frontage: 100
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Legal Description: CITY OF FOLEY SUBD SEC 29 BLOCK 8 LOT 21-24 PB1 PG25

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,319 15,850 20,555
Median Age: 42.62 40.87 40.52
Households: 1,364 6,549 8,316


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