Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15640 Ft Morgan Hwy Gulf Shores, AL 36542

    View on Map
    Sponsored
    For Sale
    $875,000

    Land - Gulf Shores, AL

    Lot size:
    2.80 Acres
    Days on Market:
    4
    Last Refresh:
    Mar 10 at 3:06 am

    Property Features for 15640 Ft Morgan Hwy

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Single Family Residence
    APN
    67-05-22-1-001-019.000
    Lot size
    2.80 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeannie Thorn
    Jeannie Thorn

    Call it Closed International Realty (251) 751-3839

    Listing agent Jeannie Thorn (251) 244-1113 License #108518

    Listing date Mar 6, 2026

    MLS# 392956 Listing URL

    Copyright © 2026 Baldwin REALTORS®. 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

    Overview

    Waterfront Land in Gulf Shores

    This property offers approximately 300 feet of lagoon waterfront. The land consists of two lots combined into one parcel, already equipped with a power pole and driveway. While some underbrush is present, it can be easily cleared. A unique feature is the canal adjacent to the property, where previous owners installed a concrete boat ramp and covered boat house, which may require some maintenance. This property is positioned as a suitable location to construct a beach home. The location offers privacy with neighbors not in close proximity, and it is situated across the street from the Peninsula Golf and Racquet Club. The listing includes two parcels. Buyer is advised to verify all information during due diligence.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Gulf Shores
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.8145
    Latitude
    30.249

    Nearby Similar for Sale

    • New
      $679,900
      1,280 SF

      Waterfront Duplex in Gulf Shores

      Waterfront duplex with income potential, near Gulf Shores beach.
      120 W 3Rd Ave, Gulf Shores, AL 36542
      View Details
    • New
      $725,000
      1,500 SF

      Updated Duplex Near Beach Access

      Updated, furnished duplex near beach access in Gulf Shores, AL.
      494 E 1St Ave, Gulf Shores, AL 36542
      View Details
    • $109,500
      0.06 Acres

      RV Lot in Whispering Pines

      Shaded RV lot in Gulf Shores resort community.
      19558 County Road 8, Gulf Shores, AL 36542
      View Details
    • $97,500
      0.06 Acres

      RV Lot in Whispering Pines Resort

      Shaded RV lot with storage shed near Gulf Shores.
      19558 County Road 8, Gulf Shores, AL 36542
      View Details
    • $4,249,000
      6,438 SF

      Gulf-Front Duplex in Gulf Shores

      Luxurious Gulf-front duplex with rental income potential in Fort Morgan.
      1594 State Highway 180, Gulf Shores, AL 36542
      View Details
    • New
      $185,000
      450 SF

      Improved RV Lot with River Views

      Move-in ready RV lot with stunning sunset and river views.
      17287 Pirate Cir, Gulf Shores, AL 36542
      View Details
    • $99,900

      RV Lot in Upscale Resort

      Prime RV lot in a resort community near Gulf beaches.
      19558 County Road 8, Gulf Shores, AL 36542
      View Details
    • $110,000

      Improved RV Lot in Gulf Shores

      RV lot with storage shed near Gulf Shores attractions.
      19558 County Road 8, Gulf Shores, AL 36542
      View Details
    • New
      $105,000
      0.08 Acres

      Gulf Shores RV Resort Lot

      RV lot in a resort setting with income potential.
      19648 County Road 8, Gulf Shores, AL 36542
      View Details
    • $2,599,000
      6,558 SF

      Gulf-Front Duplex: Income Potential

      Gulf-front duplex with 12 bedrooms, strong rental history, and luxury appeal.
      3014 Ponce De Leon Ct, Gulf Shores, AL 36542
      View Details
    • $95,000
      0.08 Acres

      Improved RV Lot in Gulf Shores

      Spacious RV lot with concrete pad and resort amenities.
      19558 County Road 8, Gulf Shores, AL 36542
      View Details
    • $100,000

      RV Lot in Whispering Pines

      RV lot with amenities near Gulf Shores beaches.
      19648 County Road 8, Gulf Shores, AL 36542
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 2.8 acres with 300' lagoon waterfront, ideal for building.
    Where is this waterfront land located?
    The property is located at 15640 Ft Morgan Hwy Gulf Shores, AL.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Approx. 300' lagoon waterfront property; - Two lots included in one sale; - Concrete boat ramp and covered boat house (needs TLC)
    (251) 232-4091
    Request Owner's contact information
    15640 Ft Morgan Hwy Gulf Shores, AL 36542
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15640 Ft Morgan Hwy
    Gulf Shores, AL 36542
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    15640 Ft Morgan Hwy Gulf Shores, AL 36542
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeannie Thorn
    Jeannie Thorn
    Real Estate License ID: 108518
    (251) 232-4091 (251) 244-1113
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!