Furnished Apartment Buildings on Highway
For Sale
$1,100,000
318 STATE HIGHWAY 59, Summerdale, AL 36580
Commercial Sale, Summerdale, AL
Property SizeContact for details
Lot Size2.10 Acres
Days on Market338
Property Features for 318 STATE HIGHWAY 59
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Pets allowed
Yes
Directions
Heading South on Highway 59 from I-10: Follow 59 South past Robertsdale into Summerdale, the drive into the Cottages is approx. .1 of a mile past Summerdale Self Storage.
Subdivision
Baldwin
Standard status
Active
APN
48-09-30-4-000-003.001
Lot size
2.10 Acres
Taxes and HOA fees
Tax Description
160 X 650(S) 621.5(D) FM NW COR OF LOT 5 BLK 73 RUN TH E 40 TO E MAR OF HWY 59 FOR THE POB, CONT TH E 650(S) 621.5( D), TH S 160, TH W 650(S) 621.5(D), TH N 160 TO POB CONT AINING 2.3 ACRES IN THE CITY OF SUMMERDALE SEC 30-T6S-R4E (W D)
Tax Annual Amount
3822
Legal Description
160 X 650(S) 621.5(D) FM NW COR OF LOT 5 BLK 73 RUN TH E 40 TO E MAR OF HWY 59 FOR THE POB, CONT TH E 650(S) 621.5( D), TH S 160, TH W 650(S) 621.5(D), TH N 160 TO POB CONT AINING 2.3 ACRES IN THE CITY OF SUMMERDALE SEC 30-T6S-R4E (W D)
Amenities
laundry facility
Building Details
Year built
1996
Floors in Building
1
Flooring type
Carpet, Vinyl
Roof type
Metal
Listing Agency:
Wise Living Real Estate LLC
(251) 928-9473
Listed By:
Henry Sandy A Wise · License #99130
(251) 583-8968
Added: Sep 26, 2025
Changed: Aug 25
Last Checked: Aug 29 at 6:06AM
MLS# 385971
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 commercial multifamily property includes eight cottages or tiny homes configured as ten furnished rental units, with approximately 5,900 square feet of rentable space. Units range from studios to three-bedroom layouts, and several cottages have received renovations between 2017 and 2024. The property also includes a separate laundry facility of approximately 144 square feet.
The buildings front State Highway 59 in Summerdale and are zoned B-2 (Commercial Business). Current occupancy is reported at 100%, with units leased on a weekly basis. Electricity is provided by Riviera, internet service is supplied by Point Broadband, and water and sewer are provided by the Town of Summerdale. Underwriting applies a 10% vacancy factor in calculating the stated 10% cap rate.
The buildings front State Highway 59 in Summerdale and are zoned B-2 (Commercial Business). Current occupancy is reported at 100%, with units leased on a weekly basis. Electricity is provided by Riviera, internet service is supplied by Point Broadband, and water and sewer are provided by the Town of Summerdale. Underwriting applies a 10% vacancy factor in calculating the stated 10% cap rate.
Key Highlights
- 10% cap rate calculated with a 10% vacancy factor
- Current 100% occupancy across ten rental units
- Approximately 5,900 square feet of rentable space
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
80
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?
Apartment building - Ten furnished rental units are leased weekly with laundry facilities and municipal water and sewer service.
Where is this apartment building 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% cap rate calculated with a 10% vacancy factor; Current 100% occupancy across ten rental units; Approximately 5,900 square feet of rentable space
