3-Home Multifamily
For Sale
$299,900
14119 County Road 49, Foley, AL 36535
Three mobile homes include two rented units, plus a barn and a separate building with industrial laundry equipment.
Property Size3,236 SF
Lot Size1.64 Acres
Price / SF$92.68
Days on Market12
Property Features for 14119 County Road 49
General Information
Standard status
Active
Size
3,236 SF
Lot size
1.64 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1991
Tenancy
Multi
Listing Agency:
Terri T Realty
(251) 202-7057
Listed By:
Randall Allen · License #68588
Source:
Coastalalabamahomesforsale
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 8:32PM
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 Terri T Realty
Investment Insights
Based on property information with market context.
This multifamily property spans approximately 1.64 acres and includes three mobile homes. Two homes are rented, while the third is occupied by the seller. Additional improvements include a small barn with an attached finished room and a 30-by-25-foot metal building equipped with industrial laundry machines.
The property is outside the city limits in the county and was unzoned at the time of listing. The Alabama Gulf Coast beaches are described as a short drive away. The property, structures, and included equipment are offered as-is, where-is, without warranties. Showings are by appointment with an agent present.
The property is outside the city limits in the county and was unzoned at the time of listing. The Alabama Gulf Coast beaches are described as a short drive away. The property, structures, and included equipment are offered as-is, where-is, without warranties. Showings are by appointment with an agent present.
Key Highlights
- Approximately 1.64 acres with 3 mobile homes
- Two mobile homes are currently rented; the third is seller occupied
- 30’X25’ metal building includes industrial laundry machines
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,377
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$527,540
$527.5K
Cap Rate 7%
$376,814
$376.8K
Cap Rate 9%
$293,078
$293.1K
Market Conditions
NOI Build-Up for 3,236 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.5K $15.60/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$48.0K $14.82/SF
− OpEx
−$21.6K −$6.67/SF
NOI
$26.4K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$527,540
Cap Rate 7%
$376,814
Cap Rate 9%
$293,078
Alternative Uses
Best Use
Apartment 5plus
$376.8K
$329.7K – $439.6K
NOI $26,377 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.2K
$680.9K – $907.9K
NOI $54,474 @ 7.0% cap · market cap 18.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three mobile homes include two rented units, plus a barn and a separate building with industrial laundry equipment.
Where is this multifamily property located?
The property is located at 14119 County Road 49 Foley, AL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Approximately 1.64 acres with 3 mobile homes; Two mobile homes are currently rented; the third is seller occupied; 30’X25’ metal building includes industrial laundry machines
