Two-Structure Multifamily
For Sale
$135,000
6820 Rester Road, Theodore, AL 36582
Two residences include a 3-bedroom house and a 2-bedroom mobile home with separate water systems.
Property Size1,116 SF
Price / SF$120.97
Days on Market103
Property Features for 6820 Rester Road
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Ranch
Units
Unit Mix
3BR/1BA, 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
exterior laundry room
Central Air
3
Vinyl
Electric Range/Cooktop, Refrigerator
Composition Shingle
4 Carport Spaces. 5 Parking Spaces.
Other
Building Details
Year Built
1986
Buildings
2
Stories
1
Listing Agency:
EXIT Realty Lyon & Assoc.Fhope
(251) 929-4545
Listed By:
Rosaria Valle · License #162105-1
Source:
Xome
Added: May 20
Changed: Aug 29
Last Checked: Aug 29 at 8:25PM
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 EXIT Realty Lyon & Assoc.Fhope
Investment Insights
Based on property information with market context.
This multifamily property includes two separate residential structures on nearly 2 acres. The primary house offers 3 bedrooms and 1 bathroom, while the mobile home provides 2 bedrooms and 1 bathroom. The property also includes a detached 3-car garage, a covered carport, an exterior laundry room, and 5 parking spaces. Central air, vinyl finishes, a composition shingle roof, an electric range/cooktop, and a refrigerator are among the listed features.
Located at 6820 Rester Road in Theodore, the property is described as accessible to local commercial centers, retail shopping, and major transit corridors. Each structure has its own water system. The property is offered strictly as-is, with buyer verification required during due diligence.
Located at 6820 Rester Road in Theodore, the property is described as accessible to local commercial centers, retail shopping, and major transit corridors. Each structure has its own water system. The property is offered strictly as-is, with buyer verification required during due diligence.
Key Highlights
- Nearly 2 acres with two income‑producing residential structures
- Main house with 3 bedrooms and 1 bathroom
- 2‑bedroom, 1‑bathroom mobile home
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
$9,248
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
6.85%
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%
$184,960
$185.0K
Cap Rate 7%
$132,114
$132.1K
Cap Rate 9%
$102,756
$102.8K
Market Conditions
NOI Build-Up for 1,116 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
$18.1K $16.20/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$16.8K $15.07/SF
− OpEx
−$7.6K −$6.78/SF
NOI
$9.2K $8.29/SF
Area
Mobile, AL
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$184,960
Cap Rate 7%
$132,114
Cap Rate 9%
$102,756
Alternative Uses
Best Use
Apartment 5plus
$132.1K
$115.6K – $154.1K
NOI $9,248 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.7K
$248.2K – $330.9K
NOI $19,856 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 36582, AL
25,903
Population
10,409
Households
2.5
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
79.7 sq mi
ZIP Area
325
Density / Sq Mi
$61,498
Median Household Income
$37,043
Median Earnings
$916
Median Rent
$170,400
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?
Multifamily property - Two residences include a 3-bedroom house and a 2-bedroom mobile home with separate water systems.
Where is this multifamily property located?
The property is located at 6820 Rester Road Theodore, AL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Nearly 2 acres with two income‑producing residential structures; Main house with 3 bedrooms and 1 bathroom; 2‑bedroom, 1‑bathroom mobile home
