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    Waterfront Golf Course Homesite Title is generated by Realmo AI

    E Waterview Drive lot 6, Loxley, AL 36551

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    Claim this Listing
    For Sale
    $250,000

    LAND - Loxley, AL

    Lot size:
    0.65 Acres
    Added:
    Jan 12, 2026
    Days on Market:
    143
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for E Waterview Drive lot 6

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    33-06-13-0-000-001.055
    Lot size
    0.65 Acres

    Utilities

    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Kendall Wahlert

    Listing agent Kendall Wahlert License #83690

    Listing office Waters Edge Realty 8 S Bancroft St, Fairhope, AL

    Listing date Jan 12, 2026

    MLS# 390126 Listing URL

    Copyright © 2026 Baldwin 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

    • .649‑acre cleared homesite in the gated Steelwood community
    • Lake views across Steelwood's 200‑acre lake
    • Golf course frontage on both front and rear: overlooks the 16th hole and faces the 17th hole
    • Additional sightlines to the 18th hole
    • Allowed use: up to a four‑unit condo with a maximum 7,000 SF or a single‑family home with a minimum 4,000 SF
    • Plans are subject to approval by Steelwood's Architectural Review Board

    Overview

    This for-sale homesite is a cleared residential lot within the gated Steelwood community. The property is approximately 0.649 acres and offers golf course frontage on both the front and rear, with views out over the course. The rear of the lot faces a fairway and includes sightlines toward additional holes, while the lake outlook is described as a backdrop across Steelwood’s 200-acre lake.

    The listing notes a location along E Waterview Drive, with frontage that looks toward the 16th hole at the front and the 17th hole at the rear. The community is described as having a championship golf setting, resort-style amenities, and substantial natural features tied to the lake.

    Use restrictions provided in the remarks allow development of up to a four-unit condo with a maximum of 7,000 square feet, or a single-family home with a minimum of 4,000 square feet. Prospective buyers are instructed to bring their own builder, with plans subject to approval by Steelwood’s Architectural Review Board. As presented, the site suits buyers looking to construct a custom home or pursue a small condo plan within Steelwood’s established development guidelines, with due diligence to confirm all details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Loxley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.7236923
    Latitude
    30.6976736

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    FAQs

    What type of property is this?
    Residential land & home lot - Cleared, gated-community lot with golf course frontage and lake views, supporting single-family or limited condo development.
    Where is this residential land & home lot located?
    The property is located at E Waterview Drive lot 6 Loxley, AL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: .649‑acre cleared homesite in the gated Steelwood community; Lake views across Steelwood's 200‑acre lake; Golf course frontage on both front and rear: overlooks the 16th hole and faces the 17th hole
    (706) 575-8800
    We can help!
    Listing Contact
    Kendall Wahlert
    Real Estate License ID: 83690
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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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