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$ 1,100,000
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448 SqFt
$ 1,100,000
Est. payment | /mo
448 SqFt
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 448 sqft
Price per Sqft $2,455
Subdivision Al
MLS Listing ID 385971
Construction Status Resale
Year Built 1996
Lot Size 2.099 Acres
Lot Dimensions 160 x 650
Property Sub-Type Hotel/Motel
Property Description
10% Cap Rate Investment – 100% OccupancyLocated on Highway 59 in the heart of Summerdale, this 2.3-acre property is zoned B-2 (Commercial Business) and offers high visibility and strong traffic counts. The property includes eight cottages/tiny homes (ten rental units total) with approximately 5,900 square feet of rentable space. All units are furnished and leased on a weekly basis. Riviera provides electricity, Point Broadband provides internet, and the Town of Summerdale provides water and sewer.Although the property is currently 100% occupied, a 10% vacancy expense has been applied in the underwriting to reflect realistic long-term performance and to calculate the stated 10% cap rate.Financials (Annual)Insurance: $10,800Taxes: $3,850Utilities: $26,000Landscaping: $2,100General Maintenance & Repairs: $9,048Vacancy (Hypothetical 10%): $18,096Property BreakdownBuilding 1 (Triplex, c. 1943 / former Summerdale Post Office)Approx. 1,543 sq. ft. totalUnit 1A: ~700 sq. ft., rents $320/week (potential $400/week with renovation)Units 1B & 1C: ~400 sq. ft. each, rent $320/weekCottage 2 – 3BR/1BA, ~1,042 sq. ft. | Renovated 2017 | Tenant since 2022Cottage 3 – 1BR/1BA, ~435 sq. ft. | Renovated 2024 | Tenant in placeCottage 4 – Studio, ~224 sq. ft. | $260/week | Tenant since 2021Cottage 5 – 2BR/1BA, ~710 sq. ft. | Renovated 2022Cottage 6 – 1BR/1BA, ~540 sq. ft. | Tenant since 2017Cottage 7 – 1BR/1BA, ~480 sq. ft. | Renovated 2018 | Tenant since 2019Cottage 8 – 2BR/1BA, ~685 sq. ft. | Renovated 2023Laundry Facility – ~144 sq. ft., currently free to tenants. Potential for revenue if converted to coin-operated.Investment Highlights10% Cap Rate calculated with 10% vacancy factorCurrent 100% occupancy and consistent rental performanceHighway 59 frontage with strong visibility and traffic countsValue-add potential through rent increases and laundry conversionAll information deemed reliable but not guaranteed. Buyer to verify all information during due diligence.
Location
State AL
County Baldwin
Area Central Baldwin County
Zoning Business/Commercial
Interior
Heating Central
Cooling Central Air
Exterior
Parking Features Parking Lot
Utilities Available See Remarks
Waterfront Description No Waterfront
Garage Yes
Building
Lot Description See Remarks
Foundation Pillar/Post/Pier, Other
Sewer Public Sewer
Water Public
New Construction No
Construction Status Resale
Listed by Wise Living Real Estate LLC
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Nicole Smith
REALTOR® | Licensed in Alabama and Florida | Lic# AL #82151 / FL #SL3129219