16-Unit Apartment
For Sale
$1,595,000
1614 SE Somerville Road, Decatur, AL 35601
Covered parking and additional off-street spaces serve the apartment property.
Property Size16,764 SF
Price / SF$95.14
Days on Market75
Property Features for 1614 SE Somerville Road
General Information
Standard status
Active
Size
16,764 SF
Property subtype
Multi Family
Zoning
R-4
Occupancy
100%
Additional Details
Multifamily Units
16
Amenities
covered parking
off-street parking
Building Details
Building Size
16,764 SF
Listing Agency:
Gateway Al Realty Group LLC
Listed By:
Len Johnson · License #40398
(256) 509-2078
Source:
Intownpartners
Added: Aug 17
Changed: Oct 27
Last Checked: Oct 27 at 3:44AM
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 Gateway Al Realty Group LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 16-unit apartment property includes covered parking and additional off-street spaces. Renovations and updates have been completed. The property is fully occupied and zoned R-4.
Located on SE Somerville Road in Decatur, Alabama.
Located on SE Somerville Road in Decatur, Alabama.
Key Highlights
- 16‑unit apartment property
- 100% occupancy
- Covered parking plus additional off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,653
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,553,060
$2.6M
Cap Rate 7%
$1,823,614
$1.8M
Cap Rate 9%
$1,418,367
$1.4M
Market Conditions
NOI Build-Up for 16,764 SF
Gross rent
$247.4K $14.76/SF
− Vacancy
−$15.3K −$0.92/SF
EGI
$232.1K $13.84/SF
− OpEx
−$104.4K −$6.23/SF
NOI
$127.7K $7.61/SF
Area
Morgan County, AL
Vacancy
6.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,553,060
Cap Rate 7%
$1,823,614
Cap Rate 9%
$1,418,367
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.60M – $2.13M
NOI $127,653 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,137 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Covered parking and additional off-street spaces serve the apartment property.
Where is this apartment building located?
The property is located at 1614 SE Somerville Road Decatur, AL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 16‑unit apartment property; 100% occupancy; Covered parking plus additional off‑street parking
