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32244046
32243876

456 N Section Street, Fairhope, AL 36532

TC
AL 123420, FL SL3632199
$1,400,000
30 days on market
Updated 26 days ago

456 / 458 N Section Street

Details
APN 46-03-37-0-004-031.000, 57306, 11239
Property Type Retail, Office (+1)
Sub Type Storefront, Traditional Office (+1)
Square Footage 6,168
Net Rentable (SqFt) 6,168
Units 8
Cap Rate 2.46%
NOI $34,440
Occupancy 45%
Tenancy Multi
Lease Type Modified
Lease Options Month-to-month tenancy
Pro-Forma Cap Rate 6.43%
Pro-Forma NOI $90,000
Price per SqFt $227
Class C
Year Built 1935
Buildings 2
Stories 1
Acreage 0.340
Zoning B-1 Local Shopping District (Buyer to verify)
Parking Spaces spaces
Investment Type Value Add
Tenant Credit No Credit Rating
Ground Lease No
Ownership whole / full
Sale Condition N/A

Prime Section Street Investment | Multi-Tenant Income + Value-Add Opportunity

Marketing description

Prime Section Street investment opportunity featuring contiguous buildings across two separately platted parcels, currently operating as multi-tenant space with approximately 45% occupancy and one tenant in place, offering immediate income with significant upside through lease-up and repositioning. Existing tenant in place providing current income on a month-to-month basis, with expressed willingness to enter into a new lease, offering a buyer the opportunity to secure stabilized income. Positioned on highly trafficked Section Street with 111 feet of frontage and strong visibility just minutes from downtown Fairhope, the property features high ceilings and a flexible layout including open service/shop space along with a suite configured with four private offices, supporting a variety of retail, office, or service-based uses. The property includes 456 and 458 N Section Street (PPIN #57306 and #11239) and is being offered together, providing scale and future flexibility. Pro forma NOI estimated at $90,000 based on projected lease-up of current vacancy and market rental assumptions following planned improvements; operating expenses are estimated and buyer to verify all financials during due diligence. Contractor renovation scope available upon request outlining value-add potential. Property is being sold as-is. Buyer to verify all measurements, zoning, and permitted use during due diligence.

Investment highlights

  • Value-add investment opportunity with in-place income and significant upside
  • Approximately 45% occupied, offering immediate lease-up potential
  • Existing tenant paying $4,100/month with opportunity to formalize new lease
  • Pro forma NOI estimated at $90,000 based on lease-up and market rental assumptions
  • Pro forma cap rate approximately 6.4% upon stabilization
  • High-visibility location with 111 feet of frontage on Section Street
  • Flexible layout featuring high ceilings, open service/shop space, and 4-office suite configuration
  • Suitable for retail, office, or service-based users
  • Two separately platted parcels included (456 & 458 N Section Street)
  • Renovation scope available outlining clear value-add strategy

Listing Contacts

TC
AL 123420, FL SL3632199

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$34,440.00
$2,870.00/mo

Valuation Metrics

0
DSCR
2.46%
Cap Rate
2.46%
ROI

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Additional Information

Name
Terri Kelley
License
000152676-0
Brokerage
Real Broker LLC
Title
Broker of Record
Brokerage Address
3711 20th Avenue, Suite 100, Valley, Alabama 36854
Name
Tracie Carter
License
123420
Brokerage
Real Broker LLC
Brokerage Phone
9018707392
Title
Real Estate Salesperson
Brokerage Address
3711 20th Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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