Cottage Condos at Eagle
Lee Rd 2149, Auburn, AL 36832
For Sale
$2,000,000
Eleven condos and seven lots in Auburn, Alabama.
Property Size11,560 SF
Price / SF$173.01
Days on Market359
Property Features for Lee Rd 2149
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listing Agency:
SVN | AVAT Realty, LLC
Listed By:
Richard (Rick) Chenault Sr. · License AL #000124758
(256) 476-0134
Source:
Svn
Added: Nov 21, 2025
Changed: Nov 8
Last Checked: Nov 12 at 5:26AM
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 SVN | AVAT Realty, LLC
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.
Cottage Condos at Eagle Farms features 11 condos and 7 lots ready for construction. The property is located in Auburn, Alabama, approximately 6.6 miles from Auburn University, a drive of about 13 minutes. Auburn, situated in eastern Alabama, had a population of 65,508 in 2020, with a median household income of $49,028. The property size is 11,560 square feet.
Key Highlights
- Located only 13 minutes (6.6 miles) from Auburn University.
- Consists of 11 condos.
- Includes 7 lots ready to build on.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,440
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,800
$1.8M
Cap Rate 7%
$1,320,571
$1.3M
Cap Rate 9%
$1,027,111
$1.0M
Market Conditions
NOI Build-Up for 11,560 SF
Gross rent
$180.3K $15.60/SF
− Vacancy
−$12.3K −$1.06/SF
EGI
$168.1K $14.54/SF
− OpEx
−$75.6K −$6.54/SF
NOI
$92.4K $8.00/SF
Area
Lee County, AL
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,800
Cap Rate 7%
$1,320,571
Cap Rate 9%
$1,027,111
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,440 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,360 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 36832, AL
29,349
Population
14,136
Households
2.1
Avg Household Size
26
Median Age
50%
College-Educated
95%
High-School Grad
68.1 sq mi
ZIP Area
431
Density / Sq Mi
$34,957
Median Household Income
$23,874
Median Earnings
$1,018
Median Rent
$222,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eleven condos and seven lots in Auburn, Alabama.
Where is this apartment building located?
The property is located at Lee Rd 2149 Auburn, AL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Located only 13 minutes (6.6 miles) from Auburn University.; Consists of 11 condos.; Includes 7 lots ready to build on.
