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    Commercial Lot on Fort Morgan Title is generated by Realmo AI

    2322 State Highway 180, Gulf Shores, AL 36542

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    Claim this Listing
    For Sale
    $399,000

    Commercial lot available in Fort Morgan Road, Gulf Shores.

    Type:Commercial/Industrial
    Added:
    Mar 5, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 7 at 8:27 pm

    Property Features for 2322 State Highway 180

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Frank Malone
    Frank Malone

    Listing agent Frank Malone License #60616

    Listing office Bellator Real Estate LLC Gulf

    Listing date Mar 5, 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 Bellator Real Estate LLC Gulf

    HighLights

    • Commercial lot available in Fort Morgan, offering a rare opportunity.
    • 71' frontage on Fort Morgan Road with a depth of 335'.
    • Zoned B‑2, Local Business District, allowing for mixed residential and commercial uses (subject to approval).
    • Adjacent lot 73 is also available, offering potential for a larger development.
    • Existing structure on the property offers remodeling or removal options if both lots are purchased.
    • Survey and elevation certificate available.

    Overview

    This commercial lot, identified as Lot 72 of Pamela Court, is located in Fort Morgan and offers 71 feet of frontage on Fort Morgan Road with a depth of 335 feet. The property is zoned B-2, Local Business District, which may allow for mixed residential and commercial uses, subject to Commission Site Plan approval. Additional B-2 zoning information is available. An adjacent lot, Lot 73, with similar dimensions is also available. A house straddles the property line of both properties. If both lots are purchased, the existing home could be remodeled or removed for new development. The structure will convey as is, where is, with no assigned value. A septic tank is located at the front left of the property, approximately 35-50 feet from the house, between the house and pilings. Any development would need to connect to city sewer. According to the seller, water was previously available to the home, which included a water heater and two bathrooms. Survey and elevation certificates are available. Buyers are responsible for verifying all information during due diligence.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Department Store HVAC Service Grocery & Convenience Store Discount Store Real Estate Agency Restaurant Parking Lot & Garage Bed & Breakfast Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Shores
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.98095
    Latitude
    30.230753

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    FAQs

    What type of property is this?
    Commercial land - Commercial lot available in Fort Morgan Road, Gulf Shores.
    Where is this commercial land located?
    The property is located at 2322 State Highway 180 Gulf Shores, AL.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Commercial lot available in Fort Morgan, offering a rare opportunity.; **71' frontage on Fort Morgan Road with a depth of 335'.**; Zoned B‑2, Local Business District, allowing for mixed residential and commercial uses (subject to approval).
    (251) 747-1723
    We can help!
    Listing Contact
    Frank Malone
    Frank Malone
    Real Estate License ID: 60616
    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.

    More about this property
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