Add Listing
    For Lease
    • 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

    12951 Co Rd 87 Elberta, AL 36530

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $0.53 SF/Yr ($9,649 /Mo)

    High-traffic corner lot, ideal for development.

    Lot size:
    218,470 SF

    Property Features for 12951 Co Rd 87

    General Information

    Property type
    Other land
    Lease Type
    Gross
    RSF (Rentable sq. ft)
    218,470 SF
    USF (Usable sq. ft)
    218,470 SF
    Elevators
    N/A
    Total Rate
    9649.09

    Amenities

    Overview

    Prime Corner Lot for Lease

    This 5-acre commercial land parcel is located in Elberta, Alabama, at the intersection of US-98 and County Road 87. The unzoned property benefits from high visibility and accessibility. US-98, a primary thoroughfare connecting south Baldwin County to Florida, ensures a consistent high traffic volume of approximately 13,000 vehicles daily, with additional traffic from the adjacent elementary school and summer tourists. The property is suitable for various commercial uses, including a gas station, convenience store, or agricultural lease. Approximately 0.81 acres along the US-98 frontage are cleared. The owner is open to dividing the property into two 2.5-acre parcels for separate leases. The property has a total area of 218,470 square feet and the yearly rate is $0.53 per square foot, based on a gross lease.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • High‑traffic location at US‑98 & Co Rd 87 intersection in rapidly growing Baldwin County, Alabama.
    • Five‑acre parcel, partially cleared, ideal for commercial development or farming.
    • Considerable daily traffic volume (13,000 cars) on US‑98, with additional school & tourist traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Elberta
    State
    Alabama
    Longitude
    -88.180506
    Latitude
    30.582053

    Nearby Comparable

    • $2,500 /Mo
      192,535 SF

      Mobile Highway Industrial Land

      Four-acre parcel, ideal for various uses.
      0 Mobile Highway, Mobile, AL
      View Details
    • $9,200 /Mo
      136,778 SF

      Prime Theodore Land - I-10 Access

      3.14-acre fenced laydown yard, utilities included.
      3420 Hamilton Blvd, Theodore, AL 36582
      View Details
    • $4 SF/Yr
      1,153,469 SF

      Bay Minette Industrial Land

      Prime Baldwin County lots, build-to-suit options.
      St 287 highway, Bay Minette, AL 36507
      View Details
    • $1.84 SF/Yr
      844,401 SF

      Prime 19-Acre Fairhope Development Land

      High-growth Baldwin County location; excellent development potential.
      Keller and us 98 road, Fairhope, AL 36532
      View Details
    • $3,000 /Mo
      465,668 SF

      Mobile, AL Industrial Land Opportunity

      10.24 Acres, Sale/Lease, Will Subdivide
      5991 Old Pascagoula Road, Mobile, AL 36619
      View Details
    • $3,500 /Mo
      86,684 SF

      I-10 Truck Yard - Theodore, AL

      Prime 2-9 acre industrial yard, I-10 frontage.
      5580 Middle Rd, Theodore, AL 36582
      View Details
    • Contact for pricing
      1 SF

      10-Acre Commercial Land in Theodore, AL

      Prime Theodore land, 10.24 acres, single tenant.
      5991 Old Pascagoula Rd, Theodore, AL 36619
      View Details
    • Contact for pricing
      3,300 SF

      Retail Spaces on Old Pascagoula

      Three retail suites available for lease, can be combined.
      6105 Old Pascagoula Rd, Theodore, AL 36619
      View Details
    • $1.10 SF/Yr

      I-10 Truck Yard - 11.5 Acres

      Prime Mobile County industrial land for lease.
      5580 Middle Rd, Theodore, AL 36582
      View Details
    • $7 SF/Yr
      100,000 SF

      100,000 SF Theodore Industrial Space

      Large industrial space for lease in Theodore, AL.
      5212 Willis Rd, Theodore, AL 36582
      View Details
    • $7 SF/Yr
      96,206 SF

      Theodore, AL Industrial Space

      Large industrial space for lease in Theodore, AL.
      5212 Willis Rd, Theodore, AL 36582
      View Details

    FAQs

    What type of property is this?
    Land - High-traffic corner lot, ideal for development.
    Where is this land located?
    The property is located at 12951 Co Rd 87 Elberta, AL.
    What is the lease rate?
    The lease rate is $0.53 SF/Yr.
    What are key features of this property?
    This property features:
    (251) 471-1000
    Request Owner's contact information
    12951 Co Rd 87 Elberta, AL 36530
    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.
    12951 Co Rd 87
    Elberta, AL 36530
    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
    12951 Co Rd 87 Elberta, AL 36530
    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

    We can help!
    Listing Contact
    Paul Salter
    (251) 471-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!