One-Bedroom Residential Income
For Sale
$185,000
S6-6194 State Highway 59, Gulf Shores, AL 36542
First-floor layout with access to a pool, fitness room, clubhouse, and courts in a gated community.
Property Size762 SF
Price / SF$242.78
Days on Market12
Property Features for S6-6194 State Highway 59
General Information
Standard status
Active
Size
762 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
gated community
swimming pool
pickleball/tennis courts
barbeque area
firepit
boat and trailer storage
exercise room
clubhouse
Building Details
Year Built
2006
Listing Agency:
RE/MAX of Gulf Shores
(251) 948-2400
Listed By:
Gloria M Sims · License #000061511-1
(251) 752-0129
Source:
Exprealty
Added: Sep 29
Changed: Oct 6
Last Checked: Oct 9 at 9:25PM
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 RE/MAX of Gulf Shores
Investment Insights
Based on property information with market context.
This first-floor condominium contains one bedroom and one full bathroom across 762 square feet. The kitchen includes a dishwasher and microwave. Built in 2006, the building has vinyl siding, a slab foundation, high-impact windows, and new gutters.
Community amenities include a swimming pool, pickleball or tennis courts, a barbecue area, firepit, exercise room, clubhouse, and boat and trailer storage. The gated community also has landscaped grounds. Association fees cover water, sewer, trash, internet, and common-area maintenance. The property is in Gulf Shores, Alabama, on State Highway 59.
Community amenities include a swimming pool, pickleball or tennis courts, a barbecue area, firepit, exercise room, clubhouse, and boat and trailer storage. The gated community also has landscaped grounds. Association fees cover water, sewer, trash, internet, and common-area maintenance. The property is in Gulf Shores, Alabama, on State Highway 59.
Key Highlights
- 762‑square‑foot, first‑floor condo with one bedroom and one full bathroom
- Built in 2006 with high‑impact windows and new gutters
- Community amenities include a pool, pickleball or tennis courts, exercise room, and clubhouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,211
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$124,220
$124.2K
Cap Rate 7%
$88,729
$88.7K
Cap Rate 9%
$69,011
$69.0K
Market Conditions
NOI Build-Up for 762 SF
Gross rent
$11.9K $15.60/SF
− Vacancy
−$594 −$0.78/SF
EGI
$11.3K $14.82/SF
− OpEx
−$5.1K −$6.67/SF
NOI
$6.2K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$124,220
Cap Rate 7%
$88,729
Cap Rate 9%
$69,011
Alternative Uses
Best Use
Apartment 5plus
$88.7K
$77.6K – $103.5K
NOI $6,211 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$183.2K
$160.3K – $213.8K
NOI $12,827 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
149
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor layout with access to a pool, fitness room, clubhouse, and courts in a gated community.
Where is this residential income property located?
The property is located at S6-6194 State Highway 59 Gulf Shores, AL.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 762‑square‑foot, first‑floor condo with one bedroom and one full bathroom; Built in 2006 with high‑impact windows and new gutters; Community amenities include a pool, pickleball or tennis courts, exercise room, and clubhouse
