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    Lakefront RV Resort Opportunity Title is generated by Realmo AI

    28152 Migratory Way, Elberta, AL 36530

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    Claim this Listing
    For Sale
    $199,000

    Luxury RV lot with lakefront views and resort amenities.

    Type:Lots/Land
    Added:
    Nov 9, 2025
    Days on Market:
    206
    Last Refresh:
    Apr 7 at 8:10 pm

    Property Features for 28152 Migratory Way

    General Information

    Standard status
    Active
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    Deanna Auner

    Listing agent Deanna Auner License #109930

    Listing office Auner And Associates Realty LL

    Listing date Nov 9, 2025

    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 Auner And Associates Realty LL

    HighLights

    • Lakefront RV lot with concrete pad, utilities, and patio with fire pit
    • Option to build a custom coach home up to 1,200 sq. ft.
    • Enjoy access to resort amenities: zero‑entry infinity pool, hot tub, fitness center, Tiki bar, and pickleball courts
    • On‑site management program available for income generation
    • HOA includes cable TV, high‑speed internet, water, trash, sewer, and lawn care
    • Located near Soldiers Creek Championship 18‑hole golf course

    Overview

    Lake Osprey RV Resort Lot #110 offers a luxury RV opportunity on the Alabama Gulf Coast. This lakefront property is suitable for full-time RV living, a vacation retreat, or income generation through the on-site management program. The improved lot features a 16' x 75' concrete pad with 30/50-amp full-service pedestals and underground utilities, ready for a future coach home. A lakefront patio area includes seating and a fire pit with lake views. The extended patio is finished with pavers and surrounded by landscaping. HOA fees are $320 per month and include cable TV, high-speed internet, water, trash, sewer, lawn care, and access to resort facilities. Owners have the option to build a custom coach home up to 1,200 sq. ft., following community architectural guidelines. Located on the east side of Elberta, AL, in Baldwin County, ownership includes access to a 1,700 sq. ft. fitness center, a zero-entry infinity pool and hot tub overlooking an 11-acre terraced lake, a poolside Tiki bar with gas grills, and three pickleball courts. The resort hosts activities, parties, and special events. The Soldiers Creek Championship 18-hole golf course and driving range are a short distance away.
    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
    Elberta
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.5594
    Latitude
    30.4162

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    FAQs

    What type of property is this?
    Land - Luxury RV lot with lakefront views and resort amenities.
    Where is this land located?
    The property is located at 28152 Migratory Way Elberta, AL.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Lakefront RV lot with concrete pad, utilities, and patio with fire pit; Option to build a custom coach home up to 1,200 sq. ft.; Enjoy access to resort amenities: zero‑entry infinity pool, hot tub, fitness center, Tiki bar, and pickleball courts
    (251) 978-9797
    We can help!
    Listing Contact
    Deanna Auner
    Real Estate License ID: 109930
    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.

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