Updated Duplex with Two
For Sale
$399,000
123 Brigade Road, Spanish Fort, AL 36527
Both units are occupied and feature updated flooring, with recent plumbing improvements throughout.
Property Size3,051 SF
Price / SF$130.78
Days on Market51
Property Features for 123 Brigade Road
General Information
Standard status
Active
Size
3,051 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1977
Listing Agency:
Blackwell Realty, Inc.
Listed By:
David Bossie · License #107990
(251) 626-9570
Source:
Coastalalabamateam
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 5:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Blackwell Realty, Inc.
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Investment Insights
Based on property information with market context.
This 3,051-square-foot duplex, built in 1977, contains two separate residences. The unit mix includes one three-bedroom, two-bath residence and one two-bedroom, two-bath residence. Both units are currently occupied. Improvements include a new roof installed this year, new vinyl flooring throughout, and plumbing replacement in both units completed in 2020. Unit B also has an HVAC system installed this year.
The property is located at 123 Brigade Road in Spanish Fort, Alabama, within ZIP code 36527. Its two-unit configuration and documented improvements provide a clearly defined residential income property profile, with separate living spaces and an established occupancy history.
The property is located at 123 Brigade Road in Spanish Fort, Alabama, within ZIP code 36527. Its two-unit configuration and documented improvements provide a clearly defined residential income property profile, with separate living spaces and an established occupancy history.
Key Highlights
- Two‑unit duplex with 3,051 square feet, built in 1977
- Unit mix includes one 3‑bedroom, 2‑bath unit and one 2‑bedroom, 2‑bath unit
- Both units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,940
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,800
$558.8K
Cap Rate 7%
$399,143
$399.1K
Cap Rate 9%
$310,444
$310.4K
Market Conditions
NOI Build-Up for 3,051 SF
Gross rent
$42.1K $13.80/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$39.9K $13.08/SF
− OpEx
−$12.0K −$3.92/SF
NOI
$27.9K $9.16/SF
Area
Baldwin County, AL
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,800
Cap Rate 7%
$399,143
Cap Rate 9%
$310,444
Alternative Uses
Best Use
Multifamily LT 5
$399.1K
$349.3K – $465.7K
NOI $27,940 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$355.3K
$310.9K – $414.5K
NOI $24,869 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$733.7K
$642.0K – $856.0K
NOI $51,359 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
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Business Placement
Demographics for 36527, AL
18,034
Population
7,621
Households
2.4
Avg Household Size
39
Median Age
43%
College-Educated
97%
High-School Grad
42.3 sq mi
ZIP Area
426
Density / Sq Mi
$112,672
Median Household Income
$51,337
Median Earnings
$1,373
Median Rent
$348,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied and feature updated flooring, with recent plumbing improvements throughout.
Where is this duplex located?
The property is located at 123 Brigade Road Spanish Fort, AL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,051 square feet, built in 1977; Unit mix includes one 3‑bedroom, 2‑bath unit and one 2‑bedroom, 2‑bath unit; Both units currently occupied
