Three-Home Multifamily
For Sale
$999,900
12101 Stonegate Drive, Huntsville, AL 35803
Residential Income, Huntsville, AL
Property Size5,398 SF
Lot Size2.40 Acres
Price / SF$185.24
Days on Market113
Property Features for 12101 Stonegate Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Industrial
Parking
6
Parking features
Driveway
Subdivision
Metes And Bounds
Elementary school
Challenger
Middle school
Challenger
High school
Grissom High School
Directions
South On Memorial Parkey Left On Stonegate
Standard status
Active
Size
5,398 SF
Lot size
2.40 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Number of units
3
Listing Agency:
Bhhs Rise Real Estate
(256) 882-0304
Listed By:
Anne Adams · License #40164
(256) 337-2625
Added: Jun 18
Changed: Aug 19
Last Checked: Oct 8 at 12:06PM
MLS# 21921260
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes three homes totaling 5,398 square feet on a level 2.4-acre tract. The residences are being conveyed together, and all three are currently occupied. Driveway parking, public water, and public sewer serve the property.
The site is zoned Light Industrial and is positioned just off Memorial Parkway in Huntsville. The stated land-use framework allows consideration of multifamily housing and other approved commercial or light industrial uses. Shopping, schools, Redstone Arsenal, and major highways are identified as nearby destinations. The property includes 12101 Stonegate Drive, 12105 Stonegate Drive, and 12111 Memorial Parkway.
The site is zoned Light Industrial and is positioned just off Memorial Parkway in Huntsville. The stated land-use framework allows consideration of multifamily housing and other approved commercial or light industrial uses. Shopping, schools, Redstone Arsenal, and major highways are identified as nearby destinations. The property includes 12101 Stonegate Drive, 12105 Stonegate Drive, and 12111 Memorial Parkway.
Key Highlights
- Three homes totaling 5,398 square feet on 2.4 acres
- All three residences are currently occupied
- Light Industrial zoning supports multifamily and approved commercial or light industrial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,097
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,940
$681.9K
Cap Rate 7%
$487,100
$487.1K
Cap Rate 9%
$378,856
$378.9K
Market Conditions
NOI Build-Up for 5,398 SF
Gross rent
$75.8K $14.04/SF
− Vacancy
−$13.8K −$2.56/SF
EGI
$62.0K $11.48/SF
− OpEx
−$27.9K −$5.17/SF
NOI
$34.1K $6.32/SF
Area
Huntsville, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,940
Cap Rate 7%
$487,100
Cap Rate 9%
$378,856
Alternative Uses
Best Use
Apartment 5plus
$487.1K
$426.2K – $568.3K
NOI $34,097 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,395 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 35803, AL
29,001
Population
13,272
Households
2.2
Avg Household Size
43
Median Age
54%
College-Educated
96%
High-School Grad
49.2 sq mi
ZIP Area
589
Density / Sq Mi
$95,182
Median Household Income
$53,416
Median Earnings
$1,221
Median Rent
$259,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Occupied residences provide existing rental use on a level tract with public water and sewer.
Where is this multifamily property located?
The property is located at 12101 Stonegate Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Three homes totaling 5,398 square feet on 2.4 acres; All three residences are currently occupied; Light Industrial zoning supports multifamily and approved commercial or light industrial uses
