318 STATE HIGHWAY 59, Summerdale, AL 36580
318 STATE HIGHWAY 59, Summerdale, AL 36580
318 STATE HIGHWAY 59, Summerdale, AL 36580
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Katie Ragland

Katie Ragland

+1(256) 366-6974
$1,100,000
Est. payment /mo
448 SqFt
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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 No

Building

Lot Description See Remarks

Foundation Other, Pillar/Post/Pier

Sewer Public Sewer

Water Public

New Construction No

Construction Status Resale

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Listed by Wise Living Real Estate LLC

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Katie Ragland

Katie Ragland

+1(256) 366-6974

Associate Broker in AL; Realtor® in FL | License ID: AL 152229-2 / FL 3575554

Associate Broker in AL; Realtor® in FL License ID: AL 152229-2 / FL 3575554

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