Add Listing
    For Sale
    • 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

    12432 County Road 48 Fairhope, AL 36532

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $275,000

    Four-acre unrestricted land parcel near Bohemian Park.

    Type:Lots/Land
    Lot size:
    4.00 Acres
    Added:
    Jan 9, 2026
    Days on Market:
    100
    Last Refresh:
    Apr 7 at 8:13 pm

    Property Features for 12432 County Road 48

    General Information

    Standard status
    Active
    Lot size
    4.00 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Dean Skipper Jr

    Listing agent Dean Skipper Jr License #53032

    Listing office Inshore Realty LLC

    Listing date Jan 9, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Inshore Realty LLC

    Overview

    Unrestricted Land Near Bohemian Park

    This four-acre land parcel is suitable for country living or a business opportunity. The property is unrestricted and unzoned. It is located next to Bohemian Park. All improvements convey at no value. Pertinent documents related to the existing buildings, as well as survey and miscellaneous documents, are available. Buyers are advised to verify all information during due diligence.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Auto Repair Shop Department Store Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairhope
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.810942
    Latitude
    30.523622

    Nearby Similar for Sale

    • $164,500

      Improved RV Lot in Fairhope

      RV lot with pergola, outdoor kitchen, and community amenities.
      22267 Lot 17 Fairhope Motorcoach Loop, Fairhope, AL 36532
      View Details
    • $785,000

      Land on Highway 181

      5.1 acre property with frontage on Highway 181.
      19595 State Highway 181, Fairhope, AL 36532
      View Details
    • $475,000

      6.3 Acres of Pastureland

      6.3 acres of lush woods and fenced pastureland near Fairhope.
      12200 Mary Ann Beach Road, Fairhope, AL 36532
      View Details
    • $510,000

      Downtown Fairhope Oversized Corner Lot

      Spacious corner lot in downtown Fairhope with fruit trees.
      459 S Section Street, Fairhope, AL 36532
      View Details
    • $225,000

      Fairhope Acre with Commercial Access

      One-acre lot with commercial access on Greeno Road.
      19441 Greeno Road, Fairhope, AL 36532
      View Details
    • $135,000

      Upscale RV Lot in Fairhope

      Class A motor coach lot with pergola near Fairhope.
      22123 Lot 42 Resort Blvd, Fairhope, AL 36532
      View Details
    • $549,000

      Residential Lot in Fairhope's District

      Cleared corner lot in Fairhope's sought-after Fruit and Nut District.
      258 Equity Street, Fairhope, AL 36532
      View Details
    • $2,499,900

      Fairhope Land with Development Potential

      3.35 acre lot near downtown Fairhope with development potential.
      313 Greeno Road, Fairhope, AL 36532
      View Details
    • $325,000

      Fairhope Residential Corner Lot

      Large 3.5+ acre corner lot in Fairhope, Alabama.
      13095 Keller Road, Fairhope, AL 36532
      View Details
    • $199,500

      Residential Lots in Upscale Development

      Residential lots in Fairhope, AL, with premier upscale development.
      225 Mount Pleasant Boulevard, Fairhope, AL 36532
      View Details
    • $195,000

      Residential Lots in Upscale Development

      Premier Fairhope residential lots in an upscale, insulated development.
      250 Mount Pleasant Boulevard, Fairhope, AL 36532
      View Details
    • $200,000

      Residential Lots in Upscale Development

      Residential lots in Fairhope, Alabama, with premier upscale development.
      254 Mount Pleasant Boulevard, Fairhope, AL 36532
      View Details

    FAQs

    What type of property is this?
    Land - Four-acre unrestricted land parcel near Bohemian Park.
    Where is this land located?
    The property is located at 12432 County Road 48 Fairhope, AL.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: 1.4 Acres of unrestricted and unzoned land.; Great location next to Bohemian Park.; Country living or business opportunity.
    (251) 424-1500
    We can help!
    Listing Contact
    Dean Skipper Jr
    Real Estate License ID: 53032
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!