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    Waterfront Land on Battleship Parkway Title is generated by Realmo AI

    0 Battleship Parkway, Spanish Fort, AL 36527

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    Claim this Listing
    For Sale
    $487,500

    Land, Other - Spanish Fort, AL

    Type:Unimproved Land
    Lot size:
    4.92 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    49
    Last Refresh:
    May 11 at 10:06 pm

    Property Features for 0 Battleship Parkway

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    3108270000008.009
    Lot size
    4.92 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Callaway

    Listing agent Jason Callaway

    Listing office Engel & Völkers Gulf Shores 4780 Wharf Pkwy F-105, Orange Beach, AL

    Listing date Mar 24, 2026

    MLS# 393978 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately +/- 5 acres of waterfront land with over 758 feet of frontage on Pass Picada (Pineda Pass).
    • Direct deep‑water access with protected navigable waters, ideal for boat docking and water‑level activities.
    • High‑traffic maritime corridor location connecting Mobile Delta to Mobile Bay, offering incredible visibility.
    • Located next to the Original Oyster House Restaurant, providing instant recognition.
    • Unobstructed views of the Mobile skyline and expansive delta marshes.
    • Rich ecosystem with frequent sightings of local wildlife.

    Overview

    This is an opportunity to purchase approximately 4.92 acres of waterfront land on Battleship Parkway, situated next to the Original Oyster House Restaurant. The property features over 758 feet of waterfront land on Pass Picada (Pineda Pass), a maritime corridor connecting the Mobile Delta to Mobile Bay. The location offers visibility for commercial or recreational ventures. The 'pass' or channel provides a sheltered environment for boat docking and water-level activities while maintaining direct deep-water access due to its protected navigable waters. Being situated directly next to a landmark like the Original Oyster House gives the land instant recognition and part of the historic "Causeway" dining and entertainment district. The land offers unobstructed views of the Mobile skyline to the west and the expansive delta marshes to the north and east. The surrounding area is rich in local wildlife, frequently seeing pelicans, blue herons, and even manatees during the warmer months, which adds significant "nature-viewing" value to the property. The property is located in Spanish Fort, AL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Spanish Fort
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.8797
    Latitude
    30.6793

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    FAQs

    What type of property is this?
    Waterfront Land - Approximately 5 acres of waterfront land on Pass Picada.
    Where is this waterfront land located?
    The property is located at 0 Battleship Parkway Spanish Fort, AL.
    What is the asking price?
    The asking price for this property is $487,500.
    What are key features of this property?
    This property features: Approximately +/- 5 acres of waterfront land with **over 758 feet of frontage on Pass Picada (Pineda Pass)**.; **Direct deep‑water access** with protected navigable waters, ideal for boat docking and water‑level activities.; High‑traffic maritime corridor location connecting Mobile Delta to Mobile Bay, offering incredible visibility.
    (251) 304-9520
    We can help!
    Listing Contact
    Jason Callaway
    Real Estate License ID: 163284
    Learn More
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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.

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