Raised Duplex with Covered
For Sale
$889,000
224 W 6th Avenue, Gulf Shores, AL 36542
Residential, Gulf Shores, AL
Property Size3,600 SF
Lot Size0.24 Acres
Price / SF$246.94
Days on Market98
Property Features for 224 W 6th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MultiFamily
Bedrooms
8
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bathroom 7, Bedroom 2, Bedroom 1, Bathroom 6, Bedroom 8, Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 3
Parking features
Carport, Covered
Pets allowed
Yes
Interior features
Wet Bar, Ceiling Fan(s), High Ceilings
Exterior features
Storage
Fireplace
1
Appliances
Electric Range, Plumbed For Ice Maker
Lot features
Less Than 1 Acre
Elementary school
Gulf Shores Elementary
Middle school
Gulf Shores Middle
High school
Gulf Shores High
Directions
Heading south on HWY 59, turn right between Scoops and Pappa Rocco's on W. 6th Ave. Home will be located on the right side of the road.
Subdivision
Baldwin
Standard status
Active
APN
66-04-20-2-000-064.000
Size
3,600 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
75X132.4 UNIT 1 GULF SHORES BLK G-1 LOT 74 PB3 P57 (WD)
Tax Annual Amount
4588
Legal Description
75X132.4 UNIT 1 GULF SHORES BLK G-1 LOT 74 PB3 P57 (WD)
Utilities
Utilities
Cable Available
Heating system
Electric (Heating)
Amenities
covered parking
Building Details
Year built
2012
Floors in Building
1
Flooring type
Tile
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Dolphin Cove Realty LLC
(251) 228-0633
Listed By:
Mitch Holliman · License #75009-1
(251) 979-8155
Added: May 28
Changed: Aug 24
Last Checked: Sep 2 at 8:06AM
MLS# 397212
Copyright © 2026 Baldwin REALTORS®. 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 raised duplex contains 3,600 square feet across two separate residences. The east-side unit includes 4 bedrooms and 3.5 bathrooms, while the west-side unit provides 4 bedrooms and 3 bathrooms. Both residences feature open living areas, high ceilings, a loft leading to the fourth bedroom, and a full bathroom on the upper level. Interior details include granite countertops, tile flooring, ceiling fans, wet bars, and fireplaces.
Built in 2012 on 0.236 acres, the property has Hardie plank siding, a metal roof, covered parking beneath each unit, and storage space. The MultiFamily zoning and stated long-term-rental restriction support a two-unit residential income configuration without short-term rental use. Gulf Shores beaches, shopping, and dining are located just minutes away. The property may also be subdivided, with each side available for individual purchase subject to the referenced listings.
Built in 2012 on 0.236 acres, the property has Hardie plank siding, a metal roof, covered parking beneath each unit, and storage space. The MultiFamily zoning and stated long-term-rental restriction support a two-unit residential income configuration without short-term rental use. Gulf Shores beaches, shopping, and dining are located just minutes away. The property may also be subdivided, with each side available for individual purchase subject to the referenced listings.
Key Highlights
- Two‑unit duplex totaling 3,600 square feet
- East unit: 4 bedrooms and 3.5 bathrooms; west unit: 4 bedrooms and 3 bathrooms
- Built in 2012 on a 0.236‑acre lot
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
$32,968
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
3.71%
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%
$659,360
$659.4K
Cap Rate 7%
$470,971
$471.0K
Cap Rate 9%
$366,311
$366.3K
Market Conditions
NOI Build-Up for 3,600 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
$49.7K $13.80/SF
− Vacancy
−$2.6K −$0.72/SF
EGI
$47.1K $13.08/SF
− OpEx
−$14.1K −$3.92/SF
NOI
$33.0K $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 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%
$659,360
Cap Rate 7%
$470,971
Cap Rate 9%
$366,311
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,968 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.1K
NOI $29,344 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$865.7K
$757.5K – $1.01M
NOI $60,601 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 36542, AL
16,993
Population
18,551
Households
0.9
Avg Household Size
51
Median Age
38%
College-Educated
95%
High-School Grad
52.0 sq mi
ZIP Area
327
Density / Sq Mi
$74,861
Median Household Income
$35,580
Median Earnings
$1,365
Median Rent
$366,600
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?
Duplex - Two independent residences offer long-term rental use, flexible living arrangements, and convenient access to Gulf Shores beaches, dining, and shopping.
Where is this duplex located?
The property is located at 224 W 6th Avenue Gulf Shores, AL.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,600 square feet; East unit: 4 bedrooms and 3.5 bathrooms; west unit: 4 bedrooms and 3 bathrooms; Built in 2012 on a 0.236‑acre lot
