Rare Multi-Use Opportunity in the Heart of Gulf Shores – Waterway Village District OverlayExceptional investment property located in the highly desirable Waterway Village District, just steps from the vibrant heart of Gulf Shores! This unique offering includes five income-producing homes, all currently used as rental properties and eligible for short-term and vacation rental approval under existing overlay zoning.Positioned less than 1/4 mile from top local attractions, including live entertainment, restaurants, boutique ice cream shops, art galleries, and a popular brewery, this walkable neighborhood is undergoing exciting infrastructure improvements—including a new pedestrian bridge over the Intracoastal Waterway and pending approval for golf cart-friendly transportation.This property also offers significant redevelopment potential, with ample room to accommodate multi-use retail, restaurant, condo, or apartment buildings—all aligned with the City of Gulf Shores’ long-term master plan for the area. Whether you're looking to develop, expand a rental portfolio, or operate a live/work concept, this flexible-use property provides unmatched potential in one of Gulf Shores' most dynamic and fast-evolving communities. Buyer to verify all information during due diligence.