Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Pelham, AL Title is generated by Realmo AI

    1923 HIGHWAY 68, Pelham, AL 35124

    View on Map
    Claim this Listing
    Picture of Land at 1923 HIGHWAY 68, Pelham, AL
    For Sale
    Under Contract
    $150,000

    Acreage - PELHAM, AL

    Lot size:
    2.02 Acres
    Added:
    Feb 10, 2023
    Days on Market:
    1208
    Last Refresh:
    Jun 2 at 8:06 am

    Property Features for 1923 HIGHWAY 68

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    Lot size
    2.02 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ron Kilgo
    Ron Kilgo

    Listing agent Ron Kilgo

    Listing office Keller Williams Metro North 651 Main Street, Ste. 115, Gardendale, AL

    Listing date Feb 10, 2023

    MLS# 1345541 Listing URL

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

    HighLights

    • Access from Hwy 68
    • Zoned Residential Garden Homes
    • Access from Pelham Parkway
    • Offers many possibilities
    • Located at latitude 33.263725 and longitude -86.80946
    • Signs will be out in the next few days

    Overview

    This 2.02-acre property, located in Pelham, Alabama, is zoned for residential garden homes. It features access from Highway 68 and Pelham Parkway, offering multiple development possibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Pelham
    County
    Shelby
    State
    Alabama
    Longitude
    -86.809461
    Latitude
    33.2637248

    Nearby Similar for Sale

    • $695,000

      Commercial Land in Growing Pelham

      1.84 acres of commercial land with high traffic and easy access.
      3421 PELHAM PARKWAY, PELHAM, AL 35124
      View Details
    • $895,000

      Commercial Land in Pelham, AL

      Prime commercial land ready for development in Pelham, Alabama.
      3436 PELHAM PARKWAY, PELHAM, AL 35124
      View Details
    • $1,400,000
      115,000 SF

      Pelham Land on Highway 31

      2.6-acre light industrial land with high visibility on Highway 31.
      3446 Pelham Parkway, Pelham, AL 35124
      View Details
    • $4,250,000

      Prime Commercial Property on Highway 11

      10.5 acres with office building in Pelham's growth corridor.
      2969 HIGHWAY 11, PELHAM, AL 35124
      View Details
    • $495,000

      Retail Opportunity in Pelham, Alabama

      Retail property in Pelham, suitable for auto shop or other business.
      3430 PELHAM PARKWAY, PELHAM, AL 35124
      View Details
    • $415,000

      Expansive Residential Land in Pelham

      7.4-acre property ideal for custom home in Pelham, AL.
      605 COOPER DRIVE, PELHAM, AL 35124
      View Details
    • $435,000
      2,368 SF

      Pelham Office Building For Sale

      Professional office building in prime location, suitable for owner-users.
      3110 Cummins Street, PELHAM, AL 35124
      View Details
    • $495,000
      1,724 SF

      Highway Frontage Retail Opportunity

      Retail or auto shop opportunity with highway frontage.
      3430 Pelham Parkway, PELHAM, AL 35124
      View Details
    • $1,000,000

      Pelham Parkway Commercial Building

      Flexible commercial building in high-growth location near I-65.
      3412 Pelham Pkwy | Pelham, AL 35124
      View Details
    • $275,000

      PELHAM Acreage Homesite Opportunity

      10.49 acre homesite with lake access and utilities.
      140 HAMPTON LAKE DRIVE, PELHAM, AL 35124
      View Details
    • $525,000
      2,500 SF

      Renovated Commercial Building with Garage

      Two-story commercial building with garage, renovated in 2024.
      2221 Pelham Parkway, PELHAM, AL 35124
      View Details
    • $3,500,000
      80,568 SF

      Pelham Warehouse and Fabrication Shops

      80,568 SF warehouse with fabrication and machine shops for sale.
      1 Breco Industrial Park, Pelham, AL 35124
      View Details

    FAQs

    What type of property is this?
    Land - 2.02 acre residential garden home lot with highway access.
    Where is this land located?
    The property is located at 1923 HIGHWAY 68 Pelham, AL.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Access from Hwy 68; Zoned Residential Garden Homes; Access from Pelham Parkway
    (205) 915-5044
    We can help!
    Listing Contact
    Ron Kilgo
    Ron Kilgo
    Real Estate License ID: 226540
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1923 HIGHWAY 68, PELHAM, AL 35124
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!