Baldwin County Association of REALTORS®
908 Plantation Blvd., Fairhope, Al 36532
Website: http://www.southalabamamls.com
Telephone: 251-928-1708 Fax: 251-928-1046
E-mail: Marthataylor@baldwinrealtors.org
Baldwin County Association of REALTORS® Newsletter
Baldwin County
Retail Properties
for Lease and For Sale
Summer 2011
“Data you can use.”
“Education you can use”
This report and others are found on the Center website: http://cres.southalabama.edu
Center for Real Estate Studies
Mitchell College of Business
University of South Alabama
USA takes reasonable measures to ensure the quality of the data and other information produced. However, USA makes no warranty, express or implied, nor
assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any information, nor represents that its use would not infringe on
privately owned rights. Reference to any specific commercial product, process, or service does not constitute an endorsement, recommendation, or favoring
by USA.
Introduction
The following report is one of four commercial reports generated by the Mitchell
College of Business, the Center for Real Estate Studies. This report contains information
for Summer 2011 Retail properties.
Readers should remember that the data covers advertised "for lease" and "for sale"
data only. Final Sale information is excluded.
The information source for the Retail data is the Commercial Property Directory,
Birmingham, AL. www.commercialpropertydirectory.com
In addition to the Retail report, three other commercial reports (Land, Office and
Industrial) can be found on the Center for Real Estate Studies website:
http://cres.southalabama.edu.
For additional information, please contact:
Dr. Don Epley, Director, Center for Real Estate Studies
Phone: (251) 460-6735
Email: depley@usouthal.edu
The data for this report was completed by:
Susan Ramsay, MACC Student
Mitchell College of Business
University of South Alabama
Mitchell Colege of Business
Center for Real Estate Studies
Table of Contents
Retail Properties
For Lease and For Sale
Introduction
Page 2
Report Summary
Page 4
List of Zip Codes
Page 5
Table 1: Asking Lease Rate per Square Foot (S.F.) by Zip Code
Page 6
Table 2: Vacancy Rate by Property
Pages 7 - 8
Table 3: Total Market of Retail Properties Advertised for Lease
Pages 9 - 11
Table 4: Advertised Sales Price per S.F. by Zip Code
Page 12 - 13
Table 5: Sales Price per S.F. by Zip Code
Page 14 - 15
Table 6: Total Market of Retail Properties Advertised for Sale
Page 16 - 17
University of South Alabama
Mitchell Colege of Business
Center for Real Estate Studies
Report Summary
2011 Advertised Retail Properties for Lease:
Total Properties Listed …………………28
Asking Lease Rate per S.F. …………… Median $12 with 13 Properties Reporting
Total Advertised S.F………………………Median 6,300 with 24 Properties Reporting
Total Advertised S.F………………………304,392 with 24 Properties Reporting
Available S.F. …………………………………Median 3,875 with 24 Properties Reporting
Total Available S.F. ……………………… 139,122 with 24 Properties Reporting
2011 Advertised Retail Properties for Sale:
Total Properties Listed …………………27
Sales Price ……………………………………Median $575,000 with 27 Properties Reporting
Building S.F. ………………………………… Median 5,273 with 20 Properties Reporting
Sales Price per Building S.F. ………… Median $104.79 with 20 Properties Reporting
Site S.F. …………………………………………Median 5,273 with 20 Properties Reporting
Sales Price per Site S.F. …………………Median $104.79 with 20 Properties Reporting
Note: This data covers only properties advertised for lease and for sale as an indication
of current market activity. They do not represent the total inventory. For example, the
building s.f. represents only buildings that are advertised with available space. Owneroccupied property is excluded, also.
University of South Alabama
Mitchell Colege of Business
Center for Real Estate Studies
Baldwin County Association of REALTORS®
908 Plantation Blvd., Fairhope, Al 36532
Website: http://www.southalabamamls.com
Telephone: 251-928-1708 Fax: 251-928-1046
E-mail: Marthataylor@baldwinrealtors.org
Baldwin County Association of REALTORS® Newsletter
Zip Code, City and Area Code
Zip
Code
36507
36511
36526
36527
36530
36532
36533
36535
36536
36542
36547
36549
36550
36551
36555
36559
36561
36562
36564
36567
36574
36576
36577
36578
36579
36580
City
Bay Minette
Bon Secour
Daphne
Spanish Fort
Elberta
Fairhope
Fairhope
Foley
Foley
Gulf Shores
Gulf Shores
Lillian
Little River
Loxley
Magnolia Springs
Montrose
Orange Beach
Perdido
Point Clear
Robertsdale
Seminole
Silverhill
Spanish Fort
Stapleton
Stockton
Summerdale
Area
Code
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
26 Total Baldwin County
Baldwin County
Retail Properties
Asking Lease Rate per S.F. by Zipcode
Table 1
Zip Code
36532
36526
36507
36527
36535
36526
36532
36551
36535
36567
36535
36526
36527
36527
36526
36551
36532
36535
36526
36567
36526
36532
36567
36567
36526
36532
36532
36532
Median
Properties
Reporting
Asking
Lease Per
S.F.
Total
Advertised
S.F.
$2.50
$14.00
7,625
18,000
6,000
14,000
$12.00
$16.00
$14.00
$11.00
$15.00
$12.00
$12.00
1,170
9,000
5,700
3,600
12,000
2,500
4,150
25,000
55,000
5,545
3,100
6,600
$16.75
$10.00
$263.98
$11.50
$12.00
14,271
84,740
0
1,200
10,000
7,600
1,591
6,000
6,300.00
13
24
Retail Properties
Vacancy Rate by Property
Table 2
Zip Code
Total
Advertised
S.F.
36532
7,625
7,625
100%
36526
18,000
2,800
16%
36507
Advertised
Calculated
Available
Vacancy Rate
S.F.
900
36527
6,000
3,000
50%
36535
14,000
14,000
100%
36526
1,200
36532
1,170
1,170
100%
36551
9,000
9,000
100%
36535
5,700
5,700
100%
36567
3,600
3,600
100%
36535
12,000
36526
2,500
2,500
100%
36527
4,150
4,150
100%
36527
25,000
25,000
100%
36526
55,000
22,500
41%
36551
5,545
5,545
100%
36532
3,100
2,400
77%
36535
36526
1,500
6,600
36567
1,200
18%
5,800
36526
14,271
36532
84,740
36567
0
4,666
33%
Retail Properties
Vacancy Rate by Property
Table 2
Zip Code
Total
Advertised
S.F.
Advertised
Calculated
Available
Vacancy Rate
S.F.
36567
1,200
1,200
100%
36526
10,000
4,475
45%
36532
7,600
7,600
100%
36532
1,591
1,591
100%
36532
6,000
Total
Median
Properties
Reporting
304,392
6,300
139,122
3,875
24
24
Baldwin County
Retail Properties
Total Market of Retail Properties Advertised for Lease
Table 3
Zip Code
Property Name
Address
City
Year
Built
Total S.F.
Lease
Price Per Available S.F.
S.F.
36532
914 Nichols Ave, Fairhope
914 Nichols Ave Ext
Fairhope
36526
Daphne Square Shopping
Center
2200 Highway 98
Daphne
36507
32 Hand Avenue
32 Hand Avenue
Bay Minette
36527
Neighborhood Retail Center
10073 US HWY 31
in Spanish Fort
36535
United Rentals Sublease
2801 S. McKenzie Street
36526
Centerpoint
28810 Highway 98
36532
Bayside
19452 SCENIC HWY 98
FAIRHOPE
1,170
1,170
36551
9000SF Bldg N Hickory,
Loxley
2127 N Hickory Street
Loxley
9,000
9,000
36535
Prime Office Space Hwy 59
316 Mckenzie Street
Foley
5,700
5,700
Robertsdale
3,600
3,600
36567
36535
36526
36527
Vacant Bldg 3600 SqFt
Robertsdale
2050 to 12000 Sf of
Office/Retail Space
Retail/Office Space on Hwy
181
Spring Hill Lighting Building
in Daphne, AL
22731 S Milwaukee St
12342 Foley Beach Express
Spanish Fort
1999
7,625
$2.50
7,625
18,000
$14.00
2,800
900
2005
Foley
6,000
3,000
14,000
14,000
Daphne
Foley
26050 Hwy 181
Daphne
25251 US HWY 98
DAPHNE
$12.00
2007
12,000
2,500
2002
1,200
4,150
2,500
$16.00
4,150
Agent Name/Agent
Phone Number
David Cooper
(251)
639-4007
John Delchamps (251)
476-0808
Adam Metcalfe
(251) 432-2600
Marietta Urquhart (251)
479-8606
Allan R. Cameron, Jr.
(251) 438-4312
Terry Mckinney
(251)
460-0910
Randy Branch
(251)
928-2109
Joe Steen
(251) 607-7880
Joe Steen
(251) 607-7881
Joe Steen
(251) 607-7882
Joe Steen
(251) 607-7883
Joe Steen
(251) 607-7884
Dane Haygood
(251)
626-7200
Baldwin County
Retail Properties
Total Market of Retail Properties Advertised for Lease
Table 3
Zip Code
36527
36526
Property Name
Malbis - Former Bassett
Furniture Store
Office Depot Shopping
Center
City
Total S.F.
0 Hwy 181
Daphne
2005
25,000
$14.00
25,000
6935 US Highway 90
Daphne
1985
55,000
$11.00
22,500
Loxley
5,545
Fairhope
3,100
Address
36551
Loxley Warehouse
25778 Highway 59
36532
Downtown Fairhope
77 South Section Street
36535
Mid Pointe Plaza #104
8159 Hwy 59
36526
Daphne 98 South
36567
36526
36532
36567
36567
Lease
Price Per Available S.F.
S.F.
Year
Built
Foley
New
28825 U.S. Highway 98
Daphne
1989
US Garage
26010 Highway 90
Elsanor
Daphne Plaza
905 Daphne Ave
Daphne
14,271
Fairhope
84,740
Robertsdale
0
Robertsdale
1,200
The Shoppes at Fairhope
22530 US Highway 98
Village
LEASE SPACE IN SMALL STRIP
Unit 2 & 3 County Rd. 64
CENTER
OFFICE/RETAIL SPACE FOR
27838 Highway 64
LEASE
6,600
5,545
$15.00
2,400
$12.00
1,500
$12.00
1,200
5,800
4,666
1,200
36526
New Retail Adjoining Staples 1802 US Hwy 98
Daphne
1987
10,000
$16.75
4,475
36532
Fairhope / Office / Retail /
Warehouse
Fairhope
1985
7,600
$10.00
7,600
914 Nichols Ave Ext
Agent Name/Agent
Phone Number
Dane Haygood
(251)
626-7201
Dane Haygood
(251)
626-7202
Tommy Praytor, CCIM
(251) 343-9890
Sharon Wright
(251)
471-1000
Philip Hodgson
(251)
990-6622
David Dexter
(251)
471-1000
Pratt Thomas
(251) 476-0808
Greg Stallings
(251)
377-2903
Peter Patnaude
(251)
341-1608
Thomas Galloney (251)
626-1970
Thomas Galloney (251)
626-1970
Haran Hunter
(251)
981-2400
Haran Hunter
(251)
981-2400
Baldwin County
Retail Properties
Table 3
Zip Code
36532
36532
Total Market of Retail Properties Advertised for Lease
Property Name
Downtown Fairhope 59 S
Section Street
Eastern Shore Shopping
Center
Lease
Price Per Available S.F.
S.F.
City
Year
Built
Total S.F.
59 S Section Street
Fairhope
1963
1,591
$263.98
100 Greno rd Highway 98
Fairhope
6,000
$11.50
Address
1,591
Agent Name/Agent
Phone Number
Steven Hazelwood (251)
510-6969
Randy Delchamps (251)
661-5150
Baldwin County
Retail Properties
Advertised for Sale
Table 4
Advertised Sale Price & Available S.F. by Zip Code
Zip Code
Advertised Sales Price Advertised S.F.
36507
$237,500
36526
$3,400,000
29,737
36551
$990,000
10,077
36535
$575,000
5,000
36567
$265,000
2,500
36542
$985,000
9,600
36567
$185,000
3,600
36551
$775,000
9,000
36526
$475,000
36526
$235,000
36526
$899,000
36527
$449,000
4,150
36527
$2,800,000
25,000
36527
$349,900
2,760
36551
$399,000
5,545
36567
$725,000
36542
$1,100,000
36532
$620,000
36567
$1,200,000
36567
$2,000,000
3,100
11,000
Zip Code
Advertised Sales Price Advertised S.F.
36526
$899,000
8,680
36532
$245,000
3,000
36535
$449,000
8,990
36526
$252,390
3,700
36532
$349,900
7,600
36535
$736,000
3,750
36532
$420,000
1,591
Median
$575,000.00
5,273
Properties
Reporting
28
21
Baldwin County
Retail Properties
Advertised for Sale
Price Per S.F by Zip Code
Table 5
Zip Code
Sales Price
Building S.F. Site S.F.*
36507
$237,500
36526
$3,400,000
29,737
29,737
36551
$990,000
10,077
10,077
36535
$575,000
5,000
36567
$265,000
36542
Sales Price
Sales Price
per
Acreage
per Site
Building
S.F.
S.F.
$114.34
$114.34
$98.24
$98.24
5,000
$115.00
$115.00
2,500
2,500
$106.00
$106.00
$985,000
9,600
9,600
$102.60
$102.60
36567
$185,000
3,600
3,600
$51.39
$51.39
36551
$775,000
9,000
9,000
$86.11
$86.11
36526
$475,000
36526
$235,000
36526
$899,000
36527
$449,000
4,150
4,150
0.43
$108.19
$108.19
36527
$2,800,000
25,000
25,000
1.9
$112.00
$112.00
36527
$349,900
2,760
2,760
0.92
$126.78
$126.78
36551
$399,000
5,545
5,545
4
$71.96
$71.96
36567
$725,000
36542
$1,100,000
36532
$620,000
3,100
3,100
$200.00
$200.00
36567
$1,200,000
36567
$2,000,000
11,000
11,000
18
$181.82
$181.82
36526
$899,000
8,680
8,680
0.89
$103.57
$103.57
2
0.403
Zip Code
Sales Price
Building S.F. Site S.F.*
36532
$245,000
3,000
3,000
36535
$449,000
8,990
8,990
36526
$252,390
3,700
3,700
36532
$349,900
7,600
7,600
36535
$736,000
3,750
3,750
36532
$420,000
1,591
1,591
Median
$575,000
5,273
Properties
Reporting
28
21
Median Sales Price Per Building S.F.
Sales Price
Sales Price
per
Acreage
per Site
Building
S.F.
S.F.
$81.67
$81.67
$49.94
$49.94
$68.21
$68.21
$46.04
$46.04
$196.27
$196.27
0.25
$263.98
$263.98
5,273
0.89
$104.79
$104.79
21
12
21
21
0.77
0.7
$104.79
Median Sales Price Per Site S.F.
*Site S.F. obtained by converting acreage listed to square feet by using the conversion
factor: 1 acre = 43560 square feet
$104.79
Baldwin County
Retail Properties
Advertised for Sale
Total Market of Retail Properties Advertised for Sale
Table 6
Zip
Code
Property Name
Address
City
36507
Hoyle Avenue North
101 N. Hoyle Avenue
Bay Minette
36526
Bay Point Office
27880 N. Main Street
Daphne
33981 Hwy 59
Loxley
36551
36535
36567
10,077 SF Off/Whse
Between Mobile &
P
l
Offices Investment
Property South of Tanger 2270 McKenzie Street
M ll
Restaurant Bldg for Sale 23529 Hwy 59 South
Year
Sales Price
Built
1920
Site S.F.
$237,500
Building Name/Agent
S.F.
Phone Number
4,974
Marl Cummings, III
(251) 476-6000
$3,400,000
29,737
0
Terry McKinney (251)
460-0910
2001
$990,000
10,077
10,077
Joe Steen
(251) 607-7880
Foley
1998
$575,000
5,000
Robertssdale
1990
$265,000
2,500
2,500
Joe Steen
(251) 607-7882
Joe Steen
(251) 607-7881
36542
Gulf Shores Pkwy
Retail/Showroom
6940 Gulf Shores
Parkway
Gulf Shores
$985,000
9,600
9,600
Joe Steen
(251) 607-7883
36567
Vacant Bldg 3600 SqFt
Robertsdale
22731 S Milwaukee St
Robertsdale
$185,000
3,600
3,600
Joe Steen
(251) 607-7884
36551
9000SF Bldg N Hickory,
Loxley
2127 N Hickory Street
Loxley
$775,000
9,000
9,000
Joe Steen
(251) 607-7885
36526
Prime Location Hwy 181
Daphne
25940 Hwy 181
Daphne
$475,000
Joe Steen
(251) 607-7886
25922 Hwy 181
Daphne
$235,000
Dane Haygood
(251) 626-7200
0 Hwy 181
Daphne
$899,000
Dane Haygood
(251) 626-7201
36526
36526
Daphne - Retail/Office
Site on Hwy 181 near
CR64
Malbis - Hwy 181 & I-10
Zip
Code
Property Name
Address
36527
Spring Hill Lighting
Building in Daphne, AL
25251 US HWY 98
DAPHNE
2002
$449,000
4,150
4,150
Dane Haygood
(251) 626-7202
36527
Malbis - Former Bassett
Furniture Store
0 Hwy 181
Daphne
2005
$2,800,000
25,000
25,000
Dane Haygood
(251) 626-7203
36527
Pfeffer Flooring Building
7623 Spanish Fort Blvd
Spanish Fort
$349,900
2,760
2,760
Dane Haygood
(251) 626-7204
36551
Loxley Warehouse
25778 Highway 59
Loxley
$399,000
5,545
5,545
Tommy Praytor,
CCIM (251) 343-9890
36567
6 Plex Strip Center
21545 Hwy 59
Robertsdale
$725,000
7,200
Ingrid Jackson
(251) 947-1916
36542
5160 State Hwy 180
5160 State Hwy 180
Gulf Shores
$1,100,000
36532
Downtown Fairhope
77 South Section Street
Fairhope
$620,000
36567
US Garage
26010 Highway 90
Elsanor
$1,200,000
36567
3 BUILDINGS ** 18 ACRES 20814 Hwy. 59
Robertsdale
$2,000,000
36526
AUTOMOTIVE
151 Van Buren St.
MANAGEMENT BUILDING
Daphne
36532
Fairhope Avenue
504 Fairhope Avenue
Fairhope
36535
Foley Retail Center
1331 S Commercial
36526
Bay Breeze Square
106 5th Street
36532
Fairhope / Office / Retail
914 Nichols Ave Ext
/ Warehouse
36535
Foley Coin Laundry
36532
Downtown Fairhope 59 S
59 S Section Street
Section Street
1360 S Commercial Drive
City
Year
Sales Price
Built
2000
Site S.F.
Building Name/Agent
S.F.
Phone Number
James Henderson
(251) 442-2194
2,400
Sharon Wright (251)
471-1000
5,800
Pratt Thomas
(251) 476-0808
11,000
11,000
Harry Brown
(251) 626-1970
$899,000
8,680
8,680
Thomas Galloney
(251) 626-1970
$245,000
3,000
3,000
Jeremy B. Milling,
CCIM (251) 471-1000
3,100
Foley
1999
$449,000
8,990
Haran Hunter
(251) 981-2400
Daphne
1987
$252,390
3,700
Haran Hunter
(251) 981-2400
Fairhope
1985
$349,900
7,600
Foley
2000
$736,000
3,750
Fairhope
1963
$420,000
1,591
7,600
Haran Hunter
(251) 981-2400
Haran Hunter
(251) 981-2400
1,591
Steven Hazelwood
(251) 510-6969