Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Scenic Mountain Top Lot Title is generated by Realmo AI

    3105 Oakridge Way 101, Chelsea, AL 35043

    View on Map
    Claim this Listing
    For Sale
    $345,000

    Beautiful mountain top lot surrounded by nature in Chelsea, Alabama.

    Type:Lots/Land
    Added:
    Jun 25, 2023
    Days on Market:
    1075
    Last Refresh:
    May 8 at 8:51 pm

    Property Features for 3105 Oakridge Way 101

    General Information

    Standard status
    Active
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Kathy Filyaw

    Listing agent Kathy Filyaw License #97789

    Listing office Brogdon Properties

    Listing date Jun 25, 2023

    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 Brogdon Properties

    HighLights

    • Scenic mountain top lot - build your dream home with breathtaking views.
    • Located in Chelsea, Alabama, offering a desirable address.
    • Surrounded by the beauty of nature, providing a tranquil setting.
    • Surrounded by the sounds of nature, creating a peaceful atmosphere.

    Overview

    This is a scenic mountain top lot located in Chelsea, Alabama. The property is surrounded by natural beauty.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Chelsea
    County
    Shelby
    State
    Alabama
    Longitude
    -86.611
    Latitude
    33.3864

    Nearby Similar for Sale

    • $239,000
      3,000 SF

      Chelsea Acreage with Garage

      8.56 acres in Chelsea School District with large garage.
      268 NICHOLS ROAD, CHELSEA, AL 35043
      View Details
    • $64,500

      Wooded Lot with Mountain View

      Residential lot near hiking and mountain bike park.
      Lot 40 AUTUMN VIEW DRIVE, CHELSEA, AL 35147
      View Details
    • $262,000

      Chelsea Acreage on Highway 11

      10.09 acre property in rapidly growing Chelsea, Alabama.
      12082 HIGHWAY 11, CHELSEA, AL 35043
      View Details
    • $25,000

      CHELSEA, AL Build-Ready Lot

      Residential lot in Deer Ridge community with convenient location.
      305 DEER RIDGE LANE, CHELSEA, AL 35043
      View Details
    • $657,900

      Chelsea, AL Vacant Land Tract

      43+/- acre tract in Chelsea, Alabama, ideal for investment.
      0 Highway 49, Chelsea, AL 35043
      View Details
    • $159,000

      Chelsea Acreage in Desirable Location

      7.16 acres in Chelsea School District with multiple build sites.
      284 NICHOLS ROAD, CHELSEA, AL 35043
      View Details
    • $450,000

      Chelsea Acreage with Development Potential

      14.5 acres in Chelsea, suitable for estate or subdivision.
      0 COUNTY ROAD 36, CHELSEA, AL 35043
      View Details
    • $949,000

      Chelsea Land on Highway 280

      Approximately 30 acres with frontage on Highway 280E.
      14548 HIGHWAY 280, CHELSEA, AL 35043
      View Details
    • $994,500

      65 Acres in Chelsea, AL

      Vacant land with development potential in Shelby County.
      0 Highway 49, Chelsea, AL 35043
      View Details
    • $950,000

      Prime Commercial Acreage in Chelsea

      14.27 acres with frontage on Hwy 280 in Chelsea.
      0000 Highway 280, CHELSEA, AL 35043
      View Details
    • $325,125

      Chelsea Mini-Farm Vacant Land

      21.25 acre mini-farm tract in Chelsea, Alabama.
      0 Highway 49, Chelsea, AL 35043
      View Details
    • $600,000

      Commercial Land Near US 280

      6.52 acre commercial lot with road frontage.
      10740 Old Highway 280, CHELSEA, AL 35043
      View Details

    FAQs

    What type of property is this?
    Land - Beautiful mountain top lot surrounded by nature in Chelsea, Alabama.
    Where is this land located?
    The property is located at 3105 Oakridge Way 101 Chelsea, AL.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: Scenic mountain top lot - build your dream home with breathtaking views.; Located in Chelsea, Alabama, offering a desirable address.; Surrounded by the beauty of nature, providing a tranquil setting.
    (205) 999-5939
    We can help!
    Listing Contact
    Kathy Filyaw
    Real Estate License ID: 97789
    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

    Thank You for Inquiry
    3105 Oakridge Way 101, CHELSEA, AL 35043
    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!