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

    538 Heron Cove Road Killen, AL 35645

    View on Map
    For Sale
    $369,000

    LAND - Killen, AL

    Lot size:
    0.60 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 538 Heron Cove Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1709300003042.024
    Lot size
    0.60 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public
    Water front features
    Seawall, River Front
    Water front
    1

    We can help!

    Listing Contact
    Lizzie Spillers

    Listing agent Lizzie Spillers License #162130

    Listing office Coldwell Banker Pinnacle Prop 2093 Florence Blvd, AL

    Listing date Mar 20, 2026

    MLS# 21912814

    Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Lot in Heron Cove

    This flat waterfront lot is located in Heron Cove, a community minutes from Turtle Point Yacht and Country Club. The property is positioned at the end of a cul-de-sac surrounded by waterfront homes on Wilson Lake. It is an excellent site for building a lake cabin, with a minimum square footage requirement of 1,700 sq ft. The lot's price reduction offers the versatility of using it as a weekend spot. Situated in a deep and wide slough just off the mouth of Wilson Lake, the 0.6-acre lot is conveniently located minutes from the shopping area of Killen and 15 minutes from Florence, AL. A TVA pier permit has been issued, and a seawall is already in place.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Storage Facility Discount Store (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Killen
    County
    Lauderdale
    State
    Alabama
    Longitude
    -87.523933
    Latitude
    34.845376

    Nearby Similar for Sale

    • $349,900
      2,400 SF

      Commercial Property with Highway Access

      Commercial property in Killen, AL, with easy highway access.
      78 Commerce Way, Killen, AL 35645
      View Details
    • $379,000

      Wilson Lake Waterfront Land Opportunity

      Rare 3.17-acre waterfront lot on Wilson Lake.
      200 Holland Dr, Killen, AL 35645
      View Details
    • $89,900

      Waterfront Land in Killen, AL

      Tranquil waterfront property perfect for a dream home or getaway.
      491 Jabo Drive, Killen, AL 35645
      View Details
    • $321,900

      Waterfront Land in Turtle Cove

      Cleared 1.38-acre waterfront lot with Wilson Lake access.
      855 Turtle Cove Road, Killen, AL 35645
      View Details
    • $150,000

      Waterfront Land on Sixmile Creek

      1.4 acres on Sixmile Creek, build your dream home.
      335 Shoreline Dr, Killen, AL 35645
      View Details
    • $165,000

      Commercial Land on Highway 72

      Commercial land with frontage on Highway 72 and Old Lexington Road.
      0 Hwy 72, Killen, AL 35645
      View Details
    • $69,900

      Residential Lot in Killen, AL

      1.21 acre building lot with utilities and concrete drive.
      8224 Co Rd 94, Killen, AL 35645
      View Details
    • $30,000

      Residential Lot in Killen, AL

      Residential lot for sale in Killen, Alabama.
      135 Harbor Close, Killen, AL 35645
      View Details
    • $63,000

      Residential Lots in Killen, AL

      Development opportunity: 28 residential lots off Highway 43.
      Lot 27 Alabama Street, Killen, AL 35645
      View Details
    • $42,900

      Residential Lot in Ridgecrest Subdivision

      1.4 acre residential building lot in Killen, Alabama.
      106 Ridgecrest Ln, Killen, AL 35645
      View Details
    • $60,000

      Residential Lots in Killen, AL

      Development opportunity: 28 residential lots off Highway 43.
      Lot 19 Alabama Street, Killen, AL 35645
      View Details
    • $57,000

      Residential Lots in Killen, AL

      Development opportunity: 28 residential lots off Highway 43.
      Lot 10 Alabama Street, Killen, AL 35645
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Flat waterfront lot suitable for building a dream lake cabin.
    Where is this waterfront land located?
    The property is located at 538 Heron Cove Road Killen, AL.
    What is the asking price?
    The asking price for this property is $369,000.
    What are key features of this property?
    This property features: Flat waterfront lot on Wilson Lake; TVA pier permit issued; Seawall in place
    (256) 766-0069
    We can help!
    Listing Contact
    Lizzie Spillers
    Real Estate License ID: 162130
    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!