Furnished Cottage Rental
For Sale
$1,100,000
318 State Highway 59, Summerdale, AL 36580
Two storage areas support potential expansion, with 10 furnished units rented weekly on State Highway 59.
Property Size5,900 SF
Lot Size2.30 Acres
Price / SF$186.44
Days on Market363
Property Features for 318 State Highway 59
General Information
Standard status
Active
Size
5,900 SF
Lot size
2.30 Acres
Property subtype
Commercial/Industrial
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
Yes
Multifamily Units
10
Building Details
Year Built
1996
Listing Agency:
Wise Living Real Estate LLC
(251) 928-9473
Listed By:
Henry Sandy Wise · License #99130
(251) 583-8968
Source:
Exitrealty
Added: Oct 17, 2025
Changed: Sep 30
Last Checked: Sep 30 at 9:55AM
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 Wise Living Real Estate LLC
Investment Insights
Based on property information with market context.
This income-generating property sits on 2.3 acres and features 8 cottages totaling just over 5,900 square feet of heated and cooled area across 10 units. The units are furnished and rented by the week, and the property includes two storage areas. One storage area could become an additional unit with little expense.
The property is located in the heart of Summerdale and directly on State Highway 59. Updates have been completed recently, and additional updates are currently being done.
The seller is offering owner financing with reasonable terms, and the property is described as having B-2 Business zoning in Summerdale.
The property is located in the heart of Summerdale and directly on State Highway 59. Updates have been completed recently, and additional updates are currently being done.
The seller is offering owner financing with reasonable terms, and the property is described as having B-2 Business zoning in Summerdale.
Key Highlights
- 10 furnished cottages totaling just over 5,900 heated and cooled SF on 2.3 acres
- Weekly rental income with a very small vacancy rate; units are furnished and currently rented by the week
- Recently updated units, with additional updates currently being done
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,091
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$961,820
$961.8K
Cap Rate 7%
$687,014
$687.0K
Cap Rate 9%
$534,344
$534.3K
Market Conditions
NOI Build-Up for 5,900 SF
Gross rent
$92.0K $15.60/SF
− Vacancy
−$4.6K −$0.78/SF
EGI
$87.4K $14.82/SF
− OpEx
−$39.3K −$6.67/SF
NOI
$48.1K $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%
$961,820
Cap Rate 7%
$687,014
Cap Rate 9%
$534,344
Alternative Uses
Best Use
Apartment 5plus
$687.0K
$601.1K – $801.5K
NOI $48,091 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,318 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
133
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Two storage areas support potential expansion, with 10 furnished units rented weekly on State Highway 59.
Where is this short term rental property located?
The property is located at 318 State Highway 59 Summerdale, AL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10 furnished cottages totaling just over 5,900 heated and cooled SF on 2.3 acres; Weekly rental income with a very small vacancy rate; units are furnished and currently rented by the week; Recently updated units, with additional updates currently being done
