Jenny, Home Buyer in Ohio

We're planing to move to Mobile-Spanish Fort area.

Asked by Jenny, Ohio Tue Apr 15, 2008

My husb. is intern med doc. He wants his private practice and med spa in this area.
Options we're looking are:
1.Buy a land and build commercial property;
2. Buy commercial building;
3. Lease
Which is the cheaper solution 1. or 2.? Is it more profitable to build then buy ready(time is not an issue since we want to invest a long term)?
I know that one med spa already exist in Fairhope. Is it still a market for doctor private practice/med spa in the area?
Also we want to buy some rental property SF/Mobile Whish zip has the highest ren profit/low property prices?
Also our child will attend a high school there...
Thanks!

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Answers

10
Good questions! There are a number of buildings that can be purchased at low discount prices...I am not sure how large a building you would need but if you give me the details, I would be happy to send a list for your consideration. There has never been a better time to purchase property for investment purposes...good market for rentals in Spanish Fort and Daphne 36526 and 36527 are excellent areas for rental income.
Sylvia Stewart
Keller Williams Realty
22502 Hwy 98
Fairhope, Al 36532
251 232 9200
0 votes Thank Flag Link Wed May 18, 2011
Hi Jenny, So good to hear that you are relocating to our beautiful area of the Eastern Shore. I am from Cleveland, Ohio...so welcoming you to the area. I cannot comment on the commercial side of your search, but if you will be looking for a home to rent or purchase, you are welcome to contact me anytime. With over 30 years of real estate experience, it would be my pleasure to help another Ohioan!! You can also visit my website at http://www.BaldwinProperties.INFO if you would like to start on your home journey search. Lots of good info!d Best to you with your med spa and welcome to our beautiful area. Sincerely, Jeanne C. Nemeth, Realtor 251-753-8322 http://www.BaldwinProperties.INFO
0 votes Thank Flag Link Wed May 18, 2011
Spanish Fort would be a great location for your Med Spa. You could draw business from Baldwin and Mobile County. There are a number of vacant properties available that might be just what you are looking for. I own rental property in Daphne and on the beach. There are some awesome buys right now on beach front condos! Some of the lowest prices in 5 years! I would be happy to email you information on commercial and rental property. If you are shopping online for a personal residence, take a look at the home for sale on 7241 Maureen Circle in Spanish Fort, Alabama mls# 194148. Five bedrooms plus bonus and heated pool for $489,900. Close to schools and Interstate 10. Let me know if you want me to send additional information. Sylvia
0 votes Thank Flag Link Wed Jun 24, 2009
Visit Harper Realty http://www.harperrealtyonline.com for help with your real estate needs.
0 votes Thank Flag Link Sun Mar 29, 2009
Now is a great to buy and invest in commercial or rental property in Spanish Fort. Contact me , Sandra Harper, Harper Realty in Fairhope, AL for available commerical lots, buildings and rental properties in Spanish Fort. Visit my website http://www.HarperRealtyOnline.com or call 251 583 7503 cell. for a free list of available properties.
0 votes Thank Flag Link Mon Dec 8, 2008
If you are still interested in a med spa and practice in Mobile and the Eastern Shore. Please call me at 251-648-6835. .I have a med spa in both location and am always interested in new doctors.
0 votes Thank Flag Link Mon Nov 24, 2008
While I don't buy and build commerical propeties in Al. I can tell you that building your place from ground up has many more advantages than buying one allready built. Without the land cost look for construction to be around 125-175.00 a square foot. I just finished a 22500 sq ft Shop for a customer and they were highly pleased. We installed a geo thermal heat system for the floors. Don't overlook the tax benifits for any alternative energy programs. Some states even have grant money or low interest loans.
0 votes Thank Flag Link Sun Apr 27, 2008
Hello Jenny,

You and your husband might want to consider buying a piece of commercial zoned land in the Spanish Fort-Daphne-Fairhope area which is adequate for a building for his practice and med spa, plus additional space for other healthcare professionals. (There is a shortage of good commercial space in the "Eastern Shore" area.) Building your own building would allow you to plan your space to fit both your current and future needs. The residential growth in Baldwin County is leading to a need for more health services of all kinds. The return on commercial rental property will be much better than on residential rentals and the management will also be simpler. There are some excellent choices for high schools in the area. I would recommend that you investigate Bayside Academy in Daphne. It is a college prep school with a great reputation. I have two children who graduated from Bayside and highly recommend that you make a visit and check it out for yourself!

Wishing your family all the best in your move!

Dan - Fairhope, AL
0 votes Thank Flag Link Sun Apr 20, 2008
Yes, there is definitely a market for another med/spa and physician with an affiliated practice. Believe me, I am a customer of the one you mentioned, and the answer is yes, yes, yes! As for leasing, because we expect great appreciation here over the next few years-all over the eastern shore-you would probably do better to go ahead and buy or build. Usually building is more expensive than remodeling a property to suit your needs. The med spa in Fairhope is rather plush, so if you are considering that to be competition then you would need to look at what you want to do, and what the remodeling costs would be vs. building. There are also several aesthetic cosmetician offices in the area. You are putting your son in a great high school, by the way, if he's going to be in Spanish Fort High School. Great principal. As for rental property, you would probable do better to rent on the Eastern Shore-Fairhope, Daphne, or Spanish Fort, rather than in Mobile. The reason for that is that we are predominantly a buyer's market at this time, and our prices are somewhat down. Mobile has had a more stable market situation than we have over the last 2 years, and there are deals to be had here now. You're certainly buying at the right time. Also, have you considered looking at any beach property? Beach rentals are usually pretty steady for Gulf Shores and Orange Beach and that isn't too far away for you to manage. In addition, prices for condos and houses are way, way down-with a lot of foreclosures on the market. I am closing a sale on West Beach Blvd. tomorrow in Gulf Shores-the owners bought in 2004 for 440,000. Tomorrow it is being sold for $165,000! The rental market there is still fine, though, and lots of smart investors are snapping these things up. After all, the beach is still the beach, and folks will always come back to the beach-to buy and to rent. The only downside is somewhat higher insurance rates, but I know one company in particular that has much lower rates than the others. I work the entire Baldwin County area, as well as Mobile, and would be happy to answer any questions if you want to call me at 251-367-3602(cell) or 251-990-6622 (office). Also, you can e-mail me at elihoff@bellsouth.net. Look at my profile if you want any further info about me. I hope to be talking with you-Liz Hoffman, Associate Broker, Coldwell Banker Reehl Properties, Inc.
Web Reference: http://reehlproperties.com
0 votes Thank Flag Link Tue Apr 15, 2008
I looked up commercial property for sale in the Spanish Fort area and found some in the 400 to 500 thousand price range. Commercial land starts at 85 thousand in the I-10 Commerce Center. It runs about the same in Mobile. I also found a couple of nice ones there. You can see from these prices what it would cost to buy ready built. It hard to say how much it would cost to build without talking to a builder.
I look up rental property in the Spanish Fort and Mobile area. I picked like properties in Spanish Fort and Mobile. The property tax for the Spanish fort house was $998 and the Mobile was $1625. The Spanish Fort rented for $1600 amonth and the Mobile one for $1332 a month. I also compared 1800-2000sqft in both areas and Spanish Fort was between 165 and 240 thousand. In Mobile there is a wider range in price for the same sqft 100-250 thousand.
Baldwin County schools have a lot to offer.
I can send you the properties that I pulled.
I know that I didnt really answer your question I just gave you the facts that i found so that you could judge for yourself.
0 votes Thank Flag Link Tue Apr 15, 2008
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