Rented Fourplex With Additional
For Sale
$530,000
304-306 W Shriver Street, Summerdale, AL 36580
MULTI_FAMILY - Summerdale, AL
Property Size4,100 SF
Lot Size0.64 Acres
Price / SF$129.27
Days on Market93
Property Features for 304-306 W Shriver Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 6, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 8, Bedroom 10, Bedroom 3, Bedroom 11
Parking features
None
Appliances
Range-Electric
Subdivision
Summerdale Town
Elementary school
Summerdale School
Middle school
Summerdale School
High school
Robertsdale High
Directions
South on Hwy 59 left on W Shriver property on left
Standard status
Active
APN
48-09-30-4-000-011.000
Size
4,100 SF
Lot size
0.64 Acres
Building Details
Year built
1918
Floors in Building
1
Flooring type
Laminate
Roof type
Composition
Architectural style
Other
Listing Agency:
Baldwin County Properties, Inc
(251) 928-5305
Listed By:
Donna Cook · License #56221
(251) 510-8885
Added: May 6
Changed: Aug 4
Last Checked: Aug 6 at 3:06PM
MLS# 396157
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 property includes a fourplex that is currently rented, along with a home on the same parcel that is currently available. The total property size is listed as 4,100 square feet on a 0.64-acre lot.
The listing notes the property is in Summerdale, Alabama, and describes the area as close to the beaches, as well as Foley and Fairhope.
The buyer is advised to verify all information during due diligence.
The listing notes the property is in Summerdale, Alabama, and describes the area as close to the beaches, as well as Foley and Fairhope.
The buyer is advised to verify all information during due diligence.
Key Highlights
- 4‑plex currently rented, plus a home on the same property currently available
- Year built: 1918
- Multiple bedrooms and bathrooms listed: Bedroom 1–Bedroom 11 and Bathroom 1–Bathroom 6
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
$37,546
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
7.08%
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%
$750,920
$750.9K
Cap Rate 7%
$536,371
$536.4K
Cap Rate 9%
$417,178
$417.2K
Market Conditions
NOI Build-Up for 4,100 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
$56.6K $13.80/SF
− Vacancy
−$2.9K −$0.72/SF
EGI
$53.6K $13.08/SF
− OpEx
−$16.1K −$3.92/SF
NOI
$37.5K $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%
$750,920
Cap Rate 7%
$536,371
Cap Rate 9%
$417,178
Alternative Uses
Best Use
Multifamily LT 5
$536.4K
$469.3K – $625.8K
NOI $37,546 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$477.4K
$417.7K – $557.0K
NOI $33,419 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$986.0K
$862.7K – $1.15M
NOI $69,018 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 36580, AL
6,663
Population
2,932
Households
2.3
Avg Household Size
41
Median Age
20%
College-Educated
79%
High-School Grad
52.6 sq mi
ZIP Area
127
Density / Sq Mi
$59,138
Median Household Income
$32,456
Median Earnings
$1,043
Median Rent
$238,000
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?
Quadplex - Fourplex is currently rented, and an additional home on the same property is available for occupancy.
Where is this quadplex located?
The property is located at 304-306 W Shriver Street Summerdale, AL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 4‑plex currently rented, plus a home on the same property currently available; Year built: 1918; Multiple bedrooms and bathrooms listed: Bedroom 1–Bedroom 11 and Bathroom 1–Bathroom 6
