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

    4437 Plash Rd Gulf Shores, AL 36542

    Sponsored
    For Sale
    $3,980,000

    Multi-Family - Gulf Shores, AL

    Type:Multi Family
    Lot size:
    13.30 Acres
    Days on Market:
    34
    Last Refresh:
    Jan 29 at 10:06 pm

    Property Features for 4437 Plash Rd

    General Information

    Property type
    Land
    Property subtype
    Multi Family
    Standard status
    Active
    Zoning
    Not Zoned
    APN
    67-05-05-0-001-071.000
    Lot size
    13.30 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kattrina Parsons

    Dream Home Realty, LLC (251) 270-1146

    Listing agent Kattrina Parsons (850) 208-4308 License #90107

    Listing date Dec 27, 2025

    MLS# 369199 Listing URL

    Copyright © 2026 Baldwin County 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

    Waterfront Development Opportunity in Gulf Shores

    This 13.3-acre waterfront development opportunity is located in Gulf Shores, AL. The property features 425 feet of direct waterfront with views of Mobile Bay and Bonsecour Bay, and is a short boat ride to the Gulf of Mexico. It is approved for 11 residential units and 12 boat slips. The site has water, sewer, power, and security lights installed to the end of the drive, including a 940 ft 6" water main, a 940 ft 2" sewer force main, and 940 ft of overhead power, plus rock for the road base. Approved plans include land condo single-family dwellings, a community pool, and a large pier with a fish cleaning station. Lot sizes range from 28x60 to 30x60, and unit sizes range from 1500 sq ft to 1920 sq ft per story, with the option to build three stories. The bulkhead has been installed on the edge of wetlands, and the property features white sandy uplands ready for construction. The location is in the heart of Gulf Shores, minutes from attractions and restaurants. County zoning has not been instituted, allowing for the possibility of a condo or other development. Roads to the lots have not been built. The property is being sold as is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Wholesale Shop Hotel & Motel Storage Facility Bed & Breakfast Fish Market Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Shores
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.743609
    Latitude
    30.288855

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    FAQs

    What type of property is this?
    Commercial land - Rare waterfront development site approved for residential units and boat slips.
    Where is this commercial land located?
    The property is located at 4437 Plash Rd Gulf Shores, AL.
    What is the asking price?
    The asking price for this property is $3,980,000.
    What are key features of this property?
    This property features: - Approved for 11 residential units and 12 boat slips.; - Boasting 425 feet of direct waterfront on Mobile Bay and Bonsecour Bay.; - Utilities (water, sewer, power) installed to the end of the drive.
    (251) 923-9185
    Request Owner's contact information
    4437 Plash Rd Gulf Shores, AL 36542
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    Gulf Shores, AL 36542
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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
    4437 Plash Rd Gulf Shores, AL 36542
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    We can help!
    Listing Contact
    Kattrina Parsons
    Real Estate License ID: 90107
    (251) 923-9185
    Learn more
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