Furnished Residential Income
For Sale
$330,000
5601 State Highway 180 2601, Gulf Shores, AL 36542
Other - Gulf Shores, AL
Property Size1,135 SF
Price / SF$290.75
Days on Market28
Property Features for 5601 State Highway 180 2601
General Information
Property type
Other
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
On Street
Interior features
Ceiling Fan(s)
EntryLevel
2601
Exterior features
Storage
Appliances
Dishwasher, Dryer, Microwave, Range, Washer
Subdivision
The Rookery
Elementary school
Foley Elementary
Middle school
Foley Middle
High school
Foley High
Directions
West on SR 180 approximately 15 miles. Turn right into The Rookery. Cross over the bridge and at the stop sign, take a right. Unit 2601 will be on the North side of the cul-de-sac
Standard status
Active
APN
6907250000002.006.946
Size
1,135 SF
Utilities
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s)
Building Details
Year built
2005
Floors in Building
1
Flooring type
Tile, Wood
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Engel & Völkers Gulf Shores
(251) 304-9520
Listed By:
Joe Emerson
(251) 304-9520
Added: Jul 15
Changed: Jul 16
Last Checked: Aug 10 at 11:06PM
MLS# 399452
Copyright © 2026 Engel & Völkers. 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 cottage is being sold fully furnished and features wood flooring throughout the living areas and bedrooms, with custom tile flooring in the bathrooms. The kitchen includes Corian countertops, oak cabinetry, a ceramic tile backsplash, a gooseneck faucet, and newer appliances. Recent updates include a newer HVAC heat pump system and water heater, ceiling fans in every room, upgraded blinds, and high-speed satellite internet. Additional in-home features include newer TVs, a water filtration system, and bed bug-protected mattress covers.
The property includes a private front patio shaded by a mature palm tree, plus hurricane shutters for every window. Outside improvements include an approved outdoor storage building and a golf cart charging station. For security and convenience, a Ring doorbell is installed, and the home offers spacious owner’s closets.
Residents of The Rookery have access to community amenities including a zero-entry swimming pool with hot tub, tennis courts, a grilling area, and boat parking. Buyer to verify all information during due diligence.
The property includes a private front patio shaded by a mature palm tree, plus hurricane shutters for every window. Outside improvements include an approved outdoor storage building and a golf cart charging station. For security and convenience, a Ring doorbell is installed, and the home offers spacious owner’s closets.
Residents of The Rookery have access to community amenities including a zero-entry swimming pool with hot tub, tennis courts, a grilling area, and boat parking. Buyer to verify all information during due diligence.
Key Highlights
- Cottage built in 2005 with metal roof and wood and tile flooring throughout living areas and bathrooms
- Newer HVAC heat pump system and newer water heater, plus ceiling fans in every room
- Kitchen includes Corian countertops, oak cabinetry, ceramic tile backsplash, and newer appliances (dishwasher, microwave, range, washer and dryer)
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
$10,394
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
3.15%
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%
$207,880
$207.9K
Cap Rate 7%
$148,486
$148.5K
Cap Rate 9%
$115,489
$115.5K
Market Conditions
NOI Build-Up for 1,135 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
$15.7K $13.80/SF
− Vacancy
−$814 −$0.72/SF
EGI
$14.8K $13.08/SF
− OpEx
−$4.5K −$3.92/SF
NOI
$10.4K $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%
$207,880
Cap Rate 7%
$148,486
Cap Rate 9%
$115,489
Alternative Uses
Best Use
Multifamily LT 5
$148.5K
$129.9K – $173.2K
NOI $10,394 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$132.2K
$115.6K – $154.2K
NOI $9,251 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$272.9K
$238.8K – $318.4K
NOI $19,106 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
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 - Sold fully furnished with wood flooring, custom tile bathrooms, and updated HVAC, water heater, and kitchen appliances.
Where is this duplex located?
The property is located at 5601 State Highway 180 2601 Gulf Shores, AL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Cottage built in 2005 with metal roof and wood and tile flooring throughout living areas and bathrooms; Newer HVAC heat pump system and newer water heater, plus ceiling fans in every room; Kitchen includes Corian countertops, oak cabinetry, ceramic tile backsplash, and newer appliances (dishwasher, microwave, range, washer and dryer)
