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

    56 Lots 10th Street Florala, AL 36442

    View on Map
    For Sale
    $169,900

    LAND - Florala, AL

    Lot size:
    12.87 Acres
    Added:
    Jan 13, 2026
    Days on Market:
    82
    Last Refresh:
    Apr 5 at 3:06 pm

    Property Features for 56 Lots 10th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    City, Mobile Home, Resid
    Standard status
    Active
    APN
    23 29 08 34 1 002 004.000
    Lot size
    12.87 Acres

    Taxes and HOA fees

    Tax Description
    DB/PG>2016/8893 6/22/16 ALL BLK 2, BLK 3 , BLK4 & BLK 5 MANNING ADD UNRECORDED PLATIN NE4 S34 T1N R17E ALSO PT OF VACATEDMADISON AVE, JEFFERSON AVE, VAN BURENST & ALLEYS ADJ PROPERTY

    We can help!

    Listing Contact
    Greggory A Floyd

    Listing agent Greggory A Floyd License #3621428

    Listing office Merrifield & Pilcher Realty 682 Baldwin Ave, DeFuniak Springs, AL

    Listing date Jan 13, 2026

    MLS# 992845

    Copyright © 2026 Emerald Coast 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

    Florala Land for Residential Development

    The property consists of 56 vacant lots, totaling 12.87 acres, located within the city limits of Florala, Alabama. Zoned for city, mobile home, and residential use, the land presents various development opportunities. Potential uses include creating a subdivision with custom-built homes, establishing a private residence, or developing a larger residential project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Florala
    County
    Covington
    State
    Alabama
    Longitude
    -86.332896
    Latitude
    31.015862

    Nearby Similar for Sale

    • $899,000

      Prime Commercial Land Opportunity

      Highly visible commercial land for sale on US Hwy 331.
      23834 State Lin Rd, Florala, AL 36442
      View Details
    • $38,000

      Cleared Vacant Land For Sale

      5 acres of cleared land suitable for residential or agricultural.
      5 Ac - C1 McPhail Farm Road, Florala, AL 36442
      View Details
    • $184,900

      42 Acres of Prime Land

      42-acre parcel with creek, hunting, and building potential.
      4769 DAVIS RD, Florala, AL 36442
      View Details
    • $38,000

      Cleared Land Near Lake Jackson

      3 acres of cleared, vacant land with agricultural zoning.
      3 Acre -E Prescott Rd, Florala, AL 36442
      View Details
    • $38,000

      Cleared Vacant Land in Florala

      5 acres of cleared land suitable for residential or agricultural.
      5 Ac - C2 McPhail Farm Road, Florala, AL 36442
      View Details
    • $49,900

      Cleared Vacant Land Near Florala

      4 acres of cleared land suitable for residential or agricultural.
      4 ACRES COUNTRY CROSSROADS, Florala, AL 36442
      View Details
    • $3,900

      Land in Florala, Alabama

      Residential land with utilities in Florala, Alabama.
      Gordon Road lot: 3 & 4, Florala, AL 36442
      View Details
    • $99,900

      Buildable Lots Near Lake Jackson

      Four buildable lots near Lake Jackson with city utilities.
      23447 2nd Avenue, Florala, AL 36442
      View Details
    • $39,900

      Land with Shared Pond Access

      3.4 acres near Florala with pond, suitable for building.
      3.40 ac Bulger Town Road, Florala, AL 36442
      View Details
    • $470,000
      6,822 SF

      2,386 SF Retail For Sale 1076 3rd Street

      Retail space attached to gas station in prime location.
      1078 3rd St, Florala, AL 36442
      View Details
    • $45,000

      Cleared Land in Florala, AL

      Vacant 5.65 acres ideal for home or mobile home.
      5.65 Acre Prescott Rd, Florala, AL 36442
      View Details
    • $99,900

      Cleared Land Parcel in Florala

      13-acre cleared land with utilities near Florala, Alabama.
      13 ACRES COUNTRY CROSSROADS, Florala, AL 36442
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 12.87 acres of vacant lots for residential development.
    Where is this residential land & home lot located?
    The property is located at 56 Lots 10th Street Florala, AL.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: 12.87 acres of vacant land within city limits.; Development potential for a subdivision.; Opportunity to build custom homes.
    (850) 865-0781
    We can help!
    Listing Contact
    Greggory A Floyd
    Real Estate License ID: 3621428
    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!