314 MAGNOLIA AVENUE $1,150,000

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    314 MAGNOLIA AVENUE FAIRHOPE, AL 36532

    • 2,677 sq.ft.
    • Commercial
    MLS# 618948 | Active

    $1,150,000

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    Property Details

    Seemingly endless possibilities!!! This is a unique opportunity to own a mixed-use building in the Central Business District of Fairhope. The existing building sits near the back of the lot leaving plenty of room to build an additional building on the North side of the lot. The building is currently set up to have 4 different spaces and has had up to 4 different tenants at a time. The East & West office spaces downstairs share a common area. The downstairs East office is accessed through the red door on the front porch and has approximately 566 SF. The West office, accessed through the main front porch, is currently occupied and offers approximately 590 SF. The Back office (closest to the courtyard) is smaller at approximately 340 SF and has a small kitchenette and private restroom. The upstairs apartment or office space has a separate exterior entrance on the East side of the building. With renovations, the current flat roof would be a great outdoor deck. Upstairs has just over 800 SF and consists of 3 offices (or bedrooms), a full bathroom and a kitchenette with room for a small dining table. The interior staircase has been closed off, but it could easily be reopened to adjoin the two floors. The building is in need of some renovations, but it is full of history and possibilities. The attached survey (from 11/2016) shows the Magnolia Avenue frontage at 99.7' and 158' at the deepest part of the lot. The Seller has paid for professional tree service in the last few years to have the large Magnolia trees pruned and fertilized. The two large Magnolias and the oak trees lend to the character and charm of the property. The property backs up to the parking garage, has street front parking and private parking for several cars near the courtyard- a rare find to have all of these parking options in the CBD. The accessibility to the parking garage is a great asset to a larger business looking to come in to this space. Over the years the Seller has researched options with two different architects to renovate the space, possibly tear down the existing building and/or build an additional building on the front of the lot. No conclusions were ever reached to best optimize the large lot as there are so many options.

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    Commercial Real Estate Services

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    Commercial Real Estate Services

    Office: 251-639-4007

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    Property History

    Date Event Price Percent Change
    -- Current Price Source New Value: $1,150,000
    9/19/2018 11:20:00 AM New in Database Source

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    Information is provided in part by the Internet Data Exchange of the Gulf Coast Multiple Listing Service, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.