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    00 Castillo Dr Alford, FL 32420

    Sponsored
    For Sale
    Contact for pricing

    Land - ALFORD, FL

    Lot size:
    1.04 Acres
    Days on Market:
    32
    Last Refresh:
    Jan 29 at 4:06 am

    Property Features for 00 Castillo Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    VAC
    APN
    02-2N-11-0087-1720-0200
    Exterior features
    Corner Lot
    Lot size
    1.04 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kyla Brown

    Real Broker, LLC. (863) 206-5755

    Listing agent Kyla Brown (863) 206-5755 License #3576989

    Listing date Dec 29, 2025

    MLS# TB8332403 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Land in Compass Lake Community

    Located in Jackson County, this property is situated within the Compass Lake in the Hills community. This 1.04-acre lot offers an opportunity to build a site-built or modular home. The location, off Highway 231, provides access to parks, trails, sports facilities, and opportunities for kayaking, birding, boating, cave diving, fishing, horseback riding, shopping, dining, and entertainment. The community is near Three Rivers State Park, Jackson Blue Springs, The Florida Caverns, Falling Waters State Park, and Econfina Creek, as well as underwater caves at Merritt's Mill Pond and along the Chipola River and Holmes Creek. Compass Lake in the Hills is an equestrian-friendly planned community with amenities including freshwater fishing and boating. Compass Lake is a spring-fed lake with an average depth of 35-40 feet, with some springs reaching 70 feet. An optional HOA membership provides access to a pool, docks, and other amenities. Community amenities include access to Compass and McCormick Lakes, two club houses, RV parking, cabin and boat rentals, tennis courts, and an inground swimming pool at the main club house. Mobile homes are permitted on residential property as of June 18, 2024. The property is located approximately equidistant from Panama City Beach and Dothan, Alabama, and is not located in a flood zone. The community features disk golf and waterfront restaurants. McCormick Lake is available exclusively to members and their guests, where only boats with electric motors are permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Alford
    County
    Jackson
    State
    Florida
    Longitude
    -85.34867
    Latitude
    30.648175

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    FAQs

    What type of property is this?
    Land - Residential land in an equestrian-friendly, amenity-rich planned community.
    Where is this land located?
    The property is located at 00 Castillo Dr Alford, FL.
    What is the asking price?
    The asking price for this property is $15,900.
    What are key features of this property?
    This property features: - Access to Compass Lake: Enjoy boating, fishing, and water-skiing on this spring-fed, all-sports lake.; - Abundant Outdoor Activities: Explore nearby parks, trails, kayaking, and Gulf beaches.; - Optional HOA with Amenities: Access pools, docks, and more for only $135 annually.
    (863) 206-5755
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    00 Castillo Dr Alford, FL 32420
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    Alford, FL 32420
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    00 Castillo Dr Alford, FL 32420
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    We can help!
    Listing Contact
    Kyla Brown
    Real Estate License ID: 3576989
    (863) 206-5755
    Learn more
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