Two-Unit
For Sale
$484,900
Pending
5591-5593 Surrey Lane, Birmingham, AL 35242
Both residences have two-story layouts and are occupied under month-to-month leases.
Property Size3,256 SF
Days on Market29
Property Features for 5591-5593 Surrey Lane
General Information
Standard status
Pending
Size
3,256 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Building Details
Building Size
3,256 SF
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Hoover
Listed By:
Abby Pate · License #118546670
(205) 913-6001
Source:
Rightspacecre
Added: Oct 7
Changed: Nov 1
Last Checked: Nov 3 at 8:46AM
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 Keller Williams Hoover
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1979, this duplex contains two units, each with three bedrooms and 2.5 baths. Both residences span two stories, and each is occupied by a tenant who has been in place for four to five years. The leases are currently month-to-month.
The property is just off Cahaba Valley Road, also identified as Hwy 119, with access to Hwy 280. Shopping and dining are nearby, and the property is zoned for Oak Mountain schools with Shelby County property taxes.
The property is just off Cahaba Valley Road, also identified as Hwy 119, with access to Hwy 280. Shopping and dining are nearby, and the property is zoned for Oak Mountain schools with Shelby County property taxes.
Key Highlights
- 3,256‑square‑foot duplex built in 1979
- Two units, each with 3 bedrooms and 2.5 baths
- Two‑story layout in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,080
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,600
$501.6K
Cap Rate 7%
$358,286
$358.3K
Cap Rate 9%
$278,667
$278.7K
Market Conditions
NOI Build-Up for 3,256 SF
Gross rent
$39.5K $12.12/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$35.8K $11.00/SF
− OpEx
−$10.7K −$3.30/SF
NOI
$25.1K $7.70/SF
Area
Birmingham, AL
Vacancy
9.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,600
Cap Rate 7%
$358,286
Cap Rate 9%
$278,667
Alternative Uses
Best Use
Multifamily LT 5
$358.3K
$313.5K – $418.0K
NOI $25,080 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$335.4K
$293.5K – $391.3K
NOI $23,480 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$764.2K
$668.7K – $891.6K
NOI $53,497 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 35242, AL
57,008
Population
25,247
Households
2.3
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
52.4 sq mi
ZIP Area
1,088
Density / Sq Mi
$116,053
Median Household Income
$59,731
Median Earnings
$1,430
Median Rent
$452,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two-story layouts and are occupied under month-to-month leases.
Where is this duplex located?
The property is located at 5591-5593 Surrey Lane Birmingham, AL.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: 3,256‑square‑foot duplex built in 1979; Two units, each with 3 bedrooms and 2.5 baths; Two‑story layout in each unit
