Highway 59 Two Acre Commercial Corner - Way South Foley

Vacant Land for Sale
Catylist Listing ID: 30277928
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Retail-Pad, Other
Gross Land Area: 2.04 Acres
Sale Price: $800,000
Unit Price: $392,156 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/22/2018

Overview / Comments

This property is located on the northeast corner of Highway 59 and County Road 10 (Richard Childres Lane) just across Highway 59 from the Shell Station on County Road 10 & 59. Access is controlled by a red light at the intersection. It is the southernmost property on Hwy 59 on the east side in Foley, across the street to the south is Gulf Shores. There are two single family homes that are currently rented and a 3200 s.f. warehouse that is currently vacant. It is zoned B-1 in the City of Foley but currently being utilized as two single family home residences. Many opportunities for a high profile corner with Average Daily Traffic Count between 35,770 and 43,040 cars (source ALDOT). Or, continue holding the property as single family rental residence, lease the warehouse. The total square footage of 7368 includes both homes plus the warehouse. The property taxes of $4,724 are the combined taxes for both parcels.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Foley
Tax ID/APN: 50353 & 208936
Zoning: B-1
Property Located Between: Highway 59 & County Road 10, just north of Gulf Shores city limits
Property Visibility: Excellent
Largest Nearby Street: Highway 59
Feet of Frontage: 251
Traffic/Vehicle Count: 43,040
Highway Access: Highway 59
Airports: Jack Edwards
Site Description: The property is flat and well manicured. There are a few mature trees and good boundary landscaping. The homes are in good condition and are currently occupied by tenants. The warehouse is vacant.
Area Description: Very busy corner on Highway 59. The Shell station across the street is one of the highest grossing convenience stores around. Dollar General is located directly south of this parcel. This is the last property in Foley, Dollar General is in Gulf Shores.
Lot Frontage: 251
Lot Depth: 300
Zoning Description: B-1 allows a wide variety of commercial and residential uses. See documents for the zoning ordinance.
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Cable, Broadband, Internet Access
Water Service: Well
Sewer Type: Septic

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 11,349 27,842
Median Age: 41.48 39.52
Households: 4,987 11,825

Contact

Photograph of Listing Agent

Frank Malone

Bellator Real Estate and Development
Gulf Coast CMLS Member
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