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    The Largest CRE Database in the US with Over 1 Million Listings

    165 Lee Road 349 Salem, AL 36874

    Sponsored
    For Sale
    Pending
    $125,000

    LAND - Salem, AL

    Lot size:
    0.77 Acres
    Days on Market:
    45
    Last Refresh:
    Jan 30 at 9:06 pm

    Property Features for 165 Lee Road 349

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    Comm
    Lot size
    0.77 Acres

    Utilities

    Water front features
    Lake Front
    Water front
    1

    Building Details

    Year built
    2015
    Floors in Building
    1

    We can help!

    Listing Contact
    David Knapp

    Keller Williams Realty ASSOCD KW Montgomery (334) 209-3242

    Listing agent David Knapp (334) 209-3242 License #000144998

    Listing date Dec 17, 2025

    MLS# E102345

    Copyright © 2026 East Alabama Board of 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

    Property Insight Report

    Overview

    Lake Harding RV Park Opportunity

    Located in the Lakeview Shores community, this six-lot RV park is a short walk from a neighborhood boat ramp and dock on Lake Harding. Currently, three long-term tenants generate $525 per month each. The remaining lots are ready for development, suitable for additional pads or tiny homes. A functional laundry building on-site is plumbed for a bathroom, offering potential to be finished as a tenant space or efficiency rental. The property's boat ramp access is beneficial for tenants interested in fishing, boating, and lake activities. Situated on a 0.77-acre lot in Salem, Lee County, Alabama, the property is zoned for commercial use. The property is intended for use as a mobile home and RV park, multifamily property, or residential income property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Realty agency Wholesale Shop Electrical Service Electronics Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Lee
    State
    Alabama
    Longitude
    -85.137316
    Latitude
    32.679101

    Nearby Similar for Sale

    • $695,000
      1,500 SF

      New Construction Retail in Salem

      New construction retail property for sale in Salem, Alabama.
      5330 Lee Road 379, Salem, AL 36874
      View Details
    • $125,000
      Pending

      Lake Harding RV Park Opportunity

      Six-lot RV park near Lake Harding with development potential.
      165 Lee Road 349, Salem, AL 36874
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - Six-lot RV park near Lake Harding with development potential.
    Where is this mobile home & rv park located?
    The property is located at 165 Lee Road 349 Salem, AL.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: - Established RV park generating $1575 monthly income with 3 long-term tenants.; - Deeded access to Lake Harding via neighborhood boat ramp and dock.; - Additional lots available for expansion with RV pads or tiny homes.
    (334) 750-1700
    Request Owner's contact information
    165 Lee Road 349 Salem, AL 36874
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    Salem, AL 36874
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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
    165 Lee Road 349 Salem, AL 36874
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    We can help!
    Listing Contact
    David Knapp
    Real Estate License ID: 000144998
    (334) 750-1700
    Learn more
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