Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Alexander City Title is generated by Realmo AI

    661 Luanne's Way, Alexander City, AL 35010

    View on Map
    Claim this Listing
    For Sale
    $1,195,000

    LAND - Alexander City, AL

    Lot size:
    0.72 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    186
    Last Refresh:
    May 8 at 9:06 pm

    Property Features for 661 Luanne's Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    62 14 06 13 0 001 006.012
    Lot size
    0.72 Acres

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Thomas Lamberth

    Listing agent Thomas Lamberth License #000146486

    Listing office Russell Lands On Lake Martin - Crossroads 111 Benson Mill Road, Alexander City, AL

    Listing date Nov 3, 2025

    MLS# 25-2361 Listing URL

    Copyright © 2026 Lake Martin Area 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.

    HighLights

    • Large 0.72 acre lot with 148 feet of shoreline.
    • Gentle slope suitable for basement or crawl‑space floorplan.
    • Located in The Heritage community with 24/7 security.
    • Access to The Benjamin Lake Club.
    • Alexander City utilities.
    • Opportunity to apply for membership to Wicker Point Golf Club (Coore‑Crenshaw designed).

    Overview

    This 0.72-acre homesite, Lot 12 in The Heritage, is located on the north side of Phase 1. It features approximately 148 feet of shoreline and a gentle slope suitable for a basement or crawl-space floorplan. The property offers views of New Hope Baptist Church and sailboats from the Dixie Sailing Club. Residents of The Heritage have access to Alexander City utilities, 24/7 security, and The Benjamin Lake Club. There is also an opportunity to apply for membership to the Coore-Crenshaw designed Wicker Point Golf Club. The property is also available for sale as a proposed construction listing through Dilworth Residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Alexander City
    County
    Tallapoosa
    State
    Alabama
    Longitude
    -85.913723
    Latitude
    32.80395

    Nearby Similar for Sale

    • $450,000

      Lake Martin Waterfront Acreage

      1.39 acre wooded lot with 450' shoreline on Lake Martin.
      841 RAINTREE DRIVE, ALEXANDER CITY, AL 35010
      View Details
    • $915,000
      10,000 SF

      Spacious Commercial Property in Alexander

      10,000 sq ft commercial property ideal for bar/restaurant/retail.
      82 COURT Square, ALEXANDER CITY, AL 35010
      View Details
    • $1,750,000
      40,000 SF

      Two Warehouses on 3.52 Acres

      Two 20,000 SF warehouses near US Highway 280.
      755 16TH Court, ALEXANDER CITY, AL 35010
      View Details
    • $6,450,000

      Alexander City Industrial Manufacturing Facility

      70,300 SF industrial facility on 21.41 acres.
      247 HIGHWAY 280, ALEXANDER CITY, AL 35010
      View Details
    • $305,000
      4,560 SF

      Versatile Commercial Building on Acreage

      4,560 SF commercial building with expansion potential on over one acre.
      835 Marshall St, Alexander City, AL 35010
      View Details
    • $1,762,720
      44,068 SF

      Alexander City Industrial Facility For Sale

      44,068 SF industrial facility on 4.13 acres available.
      215 7th Way, ALEXANDER CITY, AL 35010
      View Details
    • $595,000

      Waterfront Land in The Ridge

      Waterfront land with eastern views and community amenities.
      95 East Ridge, Alexander City, AL 35010
      View Details
    • $14,900

      Unrestricted Lot with Water Access

      Large lot with deeded water access to Lake Martin.
      Old Hickory Rd, Alexander City, AL 35010
      View Details
    • $325,000

      Land on Coven Abbett Hwy

      Land for sale near Wind Creek State Park.
      1735 Coven Abbett Hwy, Alexander City, AL 35010
      View Details
    • $269,000
      1,600 SF

      Renovated Commercial Building For Sale

      1600 SF renovated commercial building with high visibility.
      125 Alison Dr, Alexander City, AL 35010
      View Details
    • $1,375,000

      39 Acres Near Lake Martin

      39-acre property near Wind Creek State Park.
      5400 COUNTY ROAD 128, ALEXANDER CITY, AL 35010
      View Details
    • $499,000

      Residential Land in Alexander City

      Residential land available in The Ridge, Alexander City, Alabama.
      148 Eagle Ridge, Alexander City, AL 35010
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.72-acre homesite with 148 feet of shoreline.
    Where is this residential land & home lot located?
    The property is located at 661 Luanne's Way Alexander City, AL.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: Large 0.72 acre lot with **148 feet of shoreline**.; Gentle slope suitable for **basement or crawl‑space floorplan**.; Located in The Heritage community with **24/7 security**.
    (205) 567-7787
    We can help!
    Listing Contact
    Thomas Lamberth
    Real Estate License ID: 000146486
    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

    Thank You for Inquiry
    661 Luanne's Way, Alexander City, AL 35010
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!