Multifamily
For Sale
$6,300,000
200 N Dobson Ave, Bay Minette, AL 36507
Located near Novelis’s aluminum recycling and rolling mill facility in Bay Minette.
Property Size63,044 SF
Days on Market49
Property Features for 200 N Dobson Ave
General Information
Standard status
Active
Size
63,044 SF
Property subtype
Multifamily
Amenities
Stabilized 68-unit workforce housing community in Bay Minette, positioned within one of Alabama's fastest-growing counties and benefiting from continued population and employment growth.
Recent capital improvements include all-new roofs completed within the last five years and upgraded interiors in approximately one-third of the units.
Clear value-add opportunity through professional management, improved operational systems, and a consistent renovation program across the remaining classic interiors.
Building Details
Building Size
63,044 SF
Units
68
Listed By:
Lloyd Escue · License #License(s): AL: 000132234 - 0
(205) 510-9132
Source:
Marcusmillichap
Added: Sep 2
Changed: Oct 5
Last Checked: Oct 19 at 3:22AM
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 Lloyd Escue
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is located at 200 N Dobson Ave in Bay Minette, Alabama. The property is near Novelis’s aluminum recycling and rolling mill facility, described as one of Alabama’s largest manufacturing investments.
The surrounding context includes North Baldwin employment growth associated with the facility and continued in-migration within Baldwin County.
The surrounding context includes North Baldwin employment growth associated with the facility and continued in-migration within Baldwin County.
Key Highlights
- Near Novelis’s aluminum recycling and rolling mill facility
- 200 N Dobson Ave, Bay Minette, AL 36507
- Located in North Baldwin County
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$513,872
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,277,440
$10.3M
Cap Rate 7%
$7,341,029
$7.3M
Cap Rate 9%
$5,709,689
$5.7M
Market Conditions
NOI Build-Up for 63,044 SF
Gross rent
$983.5K $15.60/SF
− Vacancy
−$49.2K −$0.78/SF
EGI
$934.3K $14.82/SF
− OpEx
−$420.4K −$6.67/SF
NOI
$513.9K $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 Rate 5%
$10,277,440
Cap Rate 7%
$7,341,029
Cap Rate 9%
$5,709,689
Alternative Uses
Best Use
Apartment 5plus
$7.34M
$6.42M – $8.56M
NOI $513,872 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.16M
$13.27M – $17.69M
NOI $1,061,257 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 36507, AL
19,608
Population
8,615
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
84%
High-School Grad
343.1 sq mi
ZIP Area
57
Density / Sq Mi
$47,919
Median Household Income
$34,985
Median Earnings
$872
Median Rent
$160,800
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Located near Novelis’s aluminum recycling and rolling mill facility in Bay Minette.
Where is this multifamily property located?
The property is located at 200 N Dobson Ave Bay Minette, AL.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: Near Novelis’s aluminum recycling and rolling mill facility; 200 N Dobson Ave, Bay Minette, AL 36507; Located in North Baldwin County
