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

    29640 Us Highway 98 Elberta, AL 36530

    View on Map
    Sponsored
    For Sale
    $650,000

    LAND - Elberta, AL

    Lot size:
    16.80 Acres
    Days on Market:
    58
    Last Refresh:
    Mar 11 at 10:06 am

    Property Features for 29640 Us Highway 98

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    5307250000001004
    Lot size
    16.80 Acres

    We can help!

    Listing Contact
    Christine Slaughter
    Christine Slaughter

    Realty Executives Gulf Coast, LLC (251) 609-1574

    Listing agent Christine Slaughter (251) 942-3141

    Listing date Jan 12, 2026

    MLS# 675870 Listing URL

    Copyright © 2026 Pensacola 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.

    Learn more

    Property Insight Report

    Overview

    Acreage in Elberta with Frontage

    This property features acreage a few miles from downtown Elberta, with 556 feet of frontage on Hwy 98. A house and outbuildings are included at no value. On the west side of the property, there is a tear-down house (DO NOT ENTER THE HOUSE floors are unstable), an enclosed 20 x 20 metal garage, two additional 20 x 20 buildings, an open 2-bay barn, and an RV/Boat building. Utilities are available on the property. The land includes fruit trees, old oaks, and a pond. The east side of the property has pecan trees, a power pole, a well, and a septic tank. The property, which was bush hogged a couple of years ago, is walkable with caution. The lot size is 16.8 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Accounting Firm Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Elberta
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.520226
    Latitude
    30.412833

    Nearby Similar for Sale

    • $129,000

      RV Lot in Coastal Alabama

      Deeded RV lot near Gulf Coast beaches and amenities.
      12126 Gateway Dr, Elberta, AL 36530
      View Details
    • $229,000
      0.10 Acres

      RV Lot on Lake Osprey

      RV lot with amenities near Gulf Coast Beaches.
      28170 Migratory Way, Elberta, AL 36530
      View Details
    • $250,000
      0.11 Acres

      Waterfront RV Lot in Elberta, AL

      Luxury RV lot with outdoor kitchen and lake views.
      11996 Raptor Ct, Elberta, AL 36530
      View Details
    • $149,900
      0.11 Acres

      Waterfront RV Lot in Elberta, AL

      Luxury RV lot with lake views and resort-style amenities.
      11986 Raptor Ct, Elberta, AL 36530
      View Details
    • $114,900
      0.13 Acres

      Improved RV Lot in Elberta

      Luxury RV resort lot with amenities near Gulf Coast.
      12211 Gateway Dr, Elberta, AL 36530
      View Details
    • $105,000

      RV Lot in Resort Community

      RV lot in Lake Osprey Resort, ideal for rental.
      11999 Gateway Dr, Elberta, AL 36530
      View Details
    • $155,000

      Lakefront RV Lot in Elberta, AL

      Premier lakefront RV lot with upscale enhancements and resort-style amenities.
      28100 Migratory Way, Elberta, AL 36530
      View Details
    • $115,000

      RV Lot in Lake Osprey

      Spacious RV lot with rental potential and resort amenities.
      12409 Gateway Dr, Elberta, AL 36530
      View Details
    • $114,500

      Lake Osprey RV Resort Lot

      Pull-through RV lot in Elberta, AL, with resort amenities.
      28085 Migratory Way, Elberta, AL 36530
      View Details
    • $138,000

      RV Lot in Resort Community

      RV lot with potential for a 1,200 sqft home.
      11877 Gateway Dr, Elberta, AL 36530
      View Details
    • $115,000

      Oversized RV Lot in Elberta, AL

      Spacious RV lot in luxury resort community near Gulf Coast.
      12451 Gateway Dr, Elberta, AL 36530
      View Details

    FAQs

    What type of property is this?
    Land - Land with frontage, house, outbuildings, utilities, and fruit trees.
    Where is this land located?
    The property is located at 29640 Us Highway 98 Elberta, AL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - 556 feet of frontage on Hwy 98.; - Acreage located a few miles from downtown Elberta.; - Multiple outbuildings including enclosed metal garage, two additional buildings, open 2-bay barn, and RV/Boat building.
    (251) 968-4300
    Request Owner's contact information
    29640 Us Highway 98 Elberta, AL 36530
    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.
    29640 Us Highway 98
    Elberta, AL 36530
    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
    29640 Us Highway 98 Elberta, AL 36530
    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
    Christine Slaughter
    Christine Slaughter
    Real Estate License ID: 67116
    (251) 968-4300 (251) 942-3141 (251) 609-1574
    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!