109 Highway 59 Summerdale, AL

Retail-Commercial for Sale
Catylist Listing ID: 30274792
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 4,700 SF
Gross Land Area: 0.57 Acres
Sale Price: $310,000
Unit Price: $65.96 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/21/2018

Overview / Comments

4,700 SF Multi-Tenant Office/Retail building on Highway 59 in Summerdale. The building has great visibility from Highway 59. The building is currently split into 2 suites with one 2200 SF Retail suite and one 2500 SF Medical Office. The retail suite is currently leased to Under His Wings consignment shop leased at $9 SF Mod Gross. The office suite is currently vacant, built out as medical office with reception area, 12 private offices, large restrooms, and break room.

The vacant office suite can be occupied by the buyer or leased out to make this a potentially 10%+ cap rate property.

Current Tenants

Tenant Business Name Under His Wings Consignment Shop
Is Renting? Yes
SF of Space Occupied 2,200 SF
Current Rent $9 PSF (Annual)

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 214884
Retail Clientele: General, Business
Property Visibility: Excellent
Largest Nearby Street: Highway 59
Feet of Frontage: 100
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2004
Roof Type: Flat
Construction/Siding: Metal Siding, Stucco
Lot Frontage: 100
Lot Depth: 250
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: 100' X 250' LOT 3 RESUB OF FORREST COMMERCIAL PARK SLIDE 1854-A IN CITY OF SUMMERDALE SEC31-T6S-R4E (VL SURVIVORSHIP)#504781

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,038 20,604
Median Age: 42.7 39.76
Households: 815 7,896
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