318 State Highway 59, Summerdale, AL

Name: 318 State Highway 59, For Sale in Summerdale - Zoocasa
Brand: Wise Living Real Estate LLC
SKU: 385971
Price: 1100000 USD

House

For Sale

Listed price in listed location currency (USD).

$1,100,000

000

MLS® 385971

Overview

Key Facts

Type

Levels Commercial Sale

Size -

Garage

Taxes

Days Active 210

Lot Size

Approx. Age 1996

MLS® Number 385971

Property Address: 318 State Highway 59, Summerdale, AL, 36580

Average square foot calculated using Size range provided by listing agent.

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.

MLS® Number385971

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1996

Basement

DrivewayParking Lot

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Rooms

Change to metres

Dining Room:Not available

Price History

-End Date

Not Sold YetSold Price

For Sale

Oct 1, 2025List Date

$1,100,000List Price

Map

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