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

    Lot 29 MEADOW LANE RD Andalusia, AL 36421

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Undeveloped Land - Andalusia, AL

    Lot size:
    1.47 Acres
    Added:
    Feb 4, 2025
    Days on Market:
    450
    Last Refresh:
    Apr 30 at 7:06 am

    Property Features for Lot 29 MEADOW LANE RD

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    23-08-02-09-0-001-007.029
    Lot size
    1.47 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Donna G. Raines
    Donna G. Raines

    Listing agent Donna G. Raines

    Listing office Premier Properties 1914 East Three Notch St, Andalusia, AL

    Listing date Feb 4, 2025

    MLS# 25078 Listing URL

    Copyright © 2026 Covington Association 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.

    Overview

    Residential Land Near Gantt Lake

    This 1.47-acre lot is located in the Straughn school district, offering proximity to Gantt Lake. Situated within a subdivision, the property benefits from underground utilities, paved streets, and streetlights. It is intended for single-family residential use, with restrictions including no manufactured housing and a minimum heated and cooled space of 1800 sq ft for site-built homes. Structures are limited to a maximum of 3 stories, and any visible utility structures must align with the house's design. Temporary structures are prohibited. The lot is part of a well-planned subdivision with beautiful natural surroundings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Andalusia
    County
    Covington
    State
    Alabama
    Longitude
    -86.450351
    Latitude
    31.415442

    Nearby Similar for Sale

    • $249,000

      Andalusia Commercial Property For Sale

      Functional medical or professional office space with ample parking.
      16685 US Highway 84, Andalusia, AL 36421
      View Details
    • $89,900

      Commercial Property in Carolina, AL

      High-visibility commercial property with endless potential in Carolina, Alabama.
      13828 US Highway 29, Andalusia, AL 36421
      View Details
    • $79,900

      Commercial Land with Highway Frontage

      High-exposure commercial land parcel with excellent visibility and access.
      00 Hwy 29 N, Andalusia, AL 36421
      View Details
    • $90,000

      Cleared Lot in Covington County

      5-acre cleared lot ready for building or mobile home.
      26489 Point A Isle Rd, ANDALUSIA, AL 36421
      View Details
    • $149,000

      Waterfront Land with Private Beach

      Secluded waterfront property with private beach and recreational amenities.
      12454 FOP LODGE ROAD, ANDALUSIA, AL 36421
      View Details
    • $39,900

      Residential Lot in Andalusia, AL

      0.61-acre lot ready for building in Andalusia, Alabama.
      0 Daisy Lane, Andalusia, AL 36420
      View Details
    • $70,000

      Andalusia, AL Undeveloped Land

      10 acres of wooded land ideal for hunting or recreation.
      Conecuh River Church Road, Andalusia, AL 36420
      View Details
    • $7,500

      Prime Commercial Building with Parking

      High-visibility commercial building with private parking in Andalusia, AL.
      107 Church St., Andalusia, AL 36420
      View Details
    • $258,000

      38 Acres Overlooking Pond

      Undeveloped land with pond view near Andalusia, Alabama.
      18760 Leon Wiggins Rd., Andalusia, AL 36420
      View Details
    • $133,900

      Undeveloped Land on Highway 55

      19 acres of versatile land between Andalusia and Florala.
      19 acres Highway 55, Andalusia, AL 36420
      View Details
    • $15,000

      Vacant Land in Andalusia, AL

      Corner lot in established neighborhood, close to city amenities.
      201 Packer ave, Andalusia, AL 36420
      View Details
    • $399,900

      Andalusia Commercial Land For Sale

      4.85 acres suitable for apartments, retail, or office space.
      00 Hwy 55 Truck Rt, Andalusia, AL 36420
      View Details

    FAQs

    What type of property is this?
    Land - 1.47 acre lot in Straughn school district, Andalusia, AL.
    Where is this land located?
    The property is located at Lot 29 MEADOW LANE RD Andalusia, AL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Located in the popular Straughn school district.; Close proximity to Gantt Lake.; Over 1 acre lot.
    (334) 504-1803
    We can help!
    Listing Contact
    Donna G. Raines
    Donna G. Raines
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!