Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land Off Highway Title is generated by Realmo AI

    120 GAITERS DRIVE lot 1, Calera, AL 35040

    View on Map
    Claim this Listing
    For Sale
    $889,713

    LAND - CALERA, AL

    Lot size:
    1.02 Acres
    Added:
    Oct 1, 2024
    Days on Market:
    613
    Last Refresh:
    Jun 5 at 10:06 am

    Property Features for 120 GAITERS DRIVE lot 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    28 2 04 0 001 047.000
    Lot size
    1.02 Acres

    Taxes and HOA fees

    Tax Description
    Beg 220 W of Sw Cor Se 1/4 Se 1/4 Con W210 N210 E210 S210 to Pob X00d Less portion acqd by Aldot Proj StpbhI065(404)

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Jackie Jones

    Listing agent Jackie Jones License #86277

    Listing office ARC Realty - Homewood 2732 18th Place S, Birmingham, AL

    Listing date Oct 1, 2024

    MLS# 21412605 Listing URL

    Copyright © 2026 Greater Alabama 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

    • 1‑acre commercial property on Hwy 31 between Gaiters Drive and Hwy 213
    • Located directly across Hwy 31 from QT
    • Public water available

    Overview

    This offering is a 1.02-acre commercial land parcel at 120 Gaiters Drive (lot 1) in Calera, Alabama. The property is presented for sale as a single lot suitable for commercial development, with its primary improvement being the underlying site area for a future build.

    The parcel is located on Hwy 31 between Gaiters Drive and Hwy 213. According to the remarks, the property sits directly across Hwy 31 from a QT, placing it in a visible position along a primary roadway.

    For buyers looking to ground up a commercial project, this site provides a straightforward development canvas on a highway corridor. Its location along Hwy 31 and proximity to an established retailer across the roadway can support a range of commercial uses, subject to applicable approvals and development requirements. Prospective buyers and their representatives should verify zoning, permitted uses, and any site-specific conditions prior to proceeding.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Calera
    County
    Shelby
    State
    Alabama
    Longitude
    -86.749261
    Latitude
    33.139113

    Nearby Similar for Sale

    • $175,000

      Prime Calera Land Opportunity

      Land suitable for restaurant, retail, or office in Calera.
      7900 HIGHWAY 31, CALERA, AL 35040
      View Details
    • $425,000

      Calera Land For Sale

      3.61 acres of commercial land in a busy location.
      270 TREE HAVEN LANE, CALERA, AL 35040
      View Details
    • $250,000

      Calera Land For Sale

      3.06 acres of commercial land in Calera, Alabama.
      0 CLEARBROOK LANE, CALERA, AL 35040
      View Details
    • $885,000

      Land For Sale in Calera

      3.01 acre commercial land available in Calera, Alabama.
      430 GEORGE ROY PARKWAY lot: #19, CALERA, AL 35040
      View Details
    • $149,900

      Flat Corner Commercial Land

      Flat corner lot in Calera with utilities available and proposed B-2 zoning for flexible commercial and related uses.
      BONNIEVILLE DRIVE lot: 1, CALERA, AL 35040
      View Details
    • $764,478

      Flexible Multi-Use Land

      Versatile land site suited for commercial, industrial, or residential development near major highway access.
      221 HIGHWAY 213 lot: 0, CALERA, AL 35040
      View Details
    • $1,152,603

      Two-Parcel Land Offering

      Two-parcel tract near I-65 suitable for a range of commercial, industrial, or residential uses.
      211 HIGHWAY 213 lot: 0, CALERA, AL 35040
      View Details
    • $145,000

      Level Commercial Land Parcel

      Level commercial lot with water on site and power and sewer available, positioned minutes from I-65.
      8021 HIGHWAY 31 lot: 1, CALERA, AL 35040
      View Details
    • $610,400
      4,050 SF

      Equestrian Property on 7.2 Acres

      Equestrian-ready home on 7.2 acres with horse stalls.
      222 Sweetgum Road, CALERA, AL 35040
      View Details
    • $425,000
      1,180 SF

      Commercial Land in Busy Area

      Located off Hwy 31, zoned B2, great opportunity.
      270 Tree Haven Lane, CALERA, AL 35040
      View Details
    • $165,900

      10-Acre Lot in Calera, AL

      10-acre lot for custom dream home in Calera, Alabama.
      HIGHWAY 25 lot: 1, CALERA, AL 35040
      View Details
    • $165,900

      Expansive Wooded Lot in Calera

      10+/- acre lot for custom home near I-65.
      HIGHWAY 25 lot: 2, CALERA, AL 35040
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial parcel on Highway 31 with direct drive-by exposure across from a QT.
    Where is this commercial land located?
    The property is located at 120 GAITERS DRIVE lot 1 Calera, AL.
    What is the asking price?
    The asking price for this property is $889,713.
    What are key features of this property?
    This property features: 1‑acre commercial property on Hwy 31 between Gaiters Drive and Hwy 213; Located directly across Hwy 31 from QT; Public water available
    (205) 821-6464
    We can help!
    Listing Contact
    Jackie Jones
    Real Estate License ID: 86277
    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
    120 GAITERS DRIVE lot: 1, CALERA, AL 35040
    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!