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    Land Parcel Near Legacy Shores Title is generated by Realmo AI

    106b Calico Ct, Alberta, AL 36720

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    Vacant Land - Alberta, AL

    Lot size:
    2.80 Acres
    Added:
    Apr 20, 2025
    Days on Market:
    385
    Last Refresh:
    May 9 at 7:06 pm

    Property Features for 106b Calico Ct

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    2.80 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0
    Expense value
    40
    Expense
    Home Owner Assessments Fee

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Hale Smith

    Listing agent Hale Smith

    Listing office Tutt Real Estate 6352 2nd Avenue, Thomaston, AL

    Listing date Apr 20, 2025

    MLS# 11608930 Listing URL

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

    HighLights

    • Exclusive access to the main lake via a separate, assigned lot.
    • 2.8 +/- acre parcel in the gated Legacy Shores subdivision.
    • Located on the banks of the Alabama River near Gees Bend.
    • Abundant hardwood timber and wildlife.
    • Located near the main gate of Legacy Shores with frontage on Long Ridge Road.
    • Paved drive access connecting to County Rd 29.

    Overview

    This 2.8 +/- acre parcel, identified as Lot #46, is situated near the main gate of Legacy Shores and features over a hundred yards of frontage on Long Ridge Road. The lot contains a significant amount of hardwood timber along several ridges. A separate lot assigned to Lot 46 provides the owner with exclusive access to the main lake bordering Legacy Shores. Legacy Shores is a gated subdivision located on the banks of the Alabama River, off County Road 29, leading to Gees Bend in Wilcox County, AL. The subdivision comprises 123 lots, ranging from 1 to 10 acres, with many located on the river, some on the banks of lakes, and others inland along the subdivision's streets. Each interior lot includes a corresponding small lot providing water access. The property, accessed via a paved drive connecting to County Rd 29, is home to various wildlife species, including whitetail deer, wild turkeys, and small game. This location is suitable for building a getaway or permanent residence in a quiet, peaceful countryside. Additional lots are expected to be available for sale in Legacy Shores in the future.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Auto Repair Shop Auto Parts Store Food Market Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Alberta
    County
    Wilcox
    State
    Alabama
    Longitude
    -87.3438
    Latitude
    32.1564

    Nearby Similar for Sale

    • $11,500

      Two Acre Wooded Riverfront Land

      2-acre wooded riverfront property perfect for cabin or retreat.
      106a Calico Ct, Alberta, AL 36720
      View Details
    • $69,950

      Secluded Wooded Land in Alberta, AL

      3-acre wooded lot ideal for cabin or recreational getaway.
      0 County Road 29, Alberta, AL 36720
      View Details

    FAQs

    What type of property is this?
    Land - 2.8+/- acre lot with lake access in Legacy Shores.
    Where is this land located?
    The property is located at 106b Calico Ct Alberta, AL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Exclusive access to the main lake via a separate, assigned lot.; 2.8 +/- acre parcel in the gated Legacy Shores subdivision.; Located on the banks of the Alabama River near Gees Bend.
    (334) 454-4571
    We can help!
    Listing Contact
    Hale Smith
    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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