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    Lakefront RV Lot Opportunity Title is generated by Realmo AI

    28250 Migratory Way lot 122, Elberta, AL 36530

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    Claim this Listing
    For Sale
    $179,000

    LAND - Elberta, AL

    Lot size:
    0.18 Acres
    Added:
    Aug 12, 2025
    Days on Market:
    294
    Last Refresh:
    Jun 1 at 7:06 am

    Property Features for 28250 Migratory Way lot 122

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    53-07-26-0-000-015.119
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    32.7' X 104.3' IRR LOT 122 LAKE OSPREY RV COUNTRY CLUB PHASE FIVE SLIDE 2693-D LYING IN THE CITY OF ELBERTA SEC 26-T7S-R 5E

    Utilities

    Water front features
    Lake, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Hayden Kaechele

    Listing agent Hayden Kaechele License #138014

    Listing office Scout South Properties 6304 Piccadilly Square Ste B2, Summerdale, AL

    Listing date Aug 12, 2025

    MLS# 383809 Listing URL

    Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Lakefront RV lot with direct water frontage and sunrise views
    • Large corner lot (almost 8,000 sq. ft.) with development potential
    • All‑inclusive HOA ($320/month) covers all utilities and full lawn care
    • Access to resort‑style amenities including a clubhouse, infinity pool, hot tub, pickleball courts, putting green, dog park, tiki bar, and fitness center
    • Conveniently located near Gulf Shores, Orange Beach and Pensacola
    • Existing patio upgrades and manicured landscaping

    Overview

    This property is an RV lot located at Lake Osprey RV Resort in Elberta, Alabama. The lot spans almost 8,000 sq. ft. and features lake frontage. It is a corner lot with usable yard space on both sides of the pad and an additional 10-foot common area buffer on one side, offering development potential for an expansive outdoor living area or a detached casita/cottage, subject to park model guidelines. Existing patio upgrades and manicured landscaping enhance the property. The Home Owners Association (HOA) fee is $320 per month, covering all utilities, including water, trash, sewer, electric, internet, and cable TV, as well as full lawn care. Residents have access to a clubhouse with a full kitchen, gathering spaces, and a fitness center. Outdoor amenities include an infinity pool, hot tub, pickleball courts, a putting green, a dog park and washing station, a tiki bar, an outdoor grilling area, and free laundry. The property is located 15-25 minutes from the beaches of Gulf Shores and Orange Beach and 35 minutes from Pensacola. Downtown Foley and OWA Parks & Resort are also nearby. Soldier Creek Golf Course is a short golf cart ride away. The lot size is approximately 0.183 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Campgrounds

    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
    -87.5440526
    Latitude
    30.4030229

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    FAQs

    What type of property is this?
    Campground - Unique RV lot with development potential near Gulf Shores beaches.
    Where is this campground located?
    The property is located at 28250 Migratory Way lot 122 Elberta, AL.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: Lakefront RV lot with direct water frontage and sunrise views; Large corner lot (almost 8,000 sq. ft.) with development potential; All‑inclusive HOA ($320/month) covers all utilities and full lawn care
    (251) 752-6334
    We can help!
    Listing Contact
    Hayden Kaechele
    Real Estate License ID: 138014
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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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