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    Boat Slip at Marina Title is generated by Realmo AI

    4688 Walker Avenue, Orange Beach, AL 36561

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    For Sale
    $145,000

    LAND - Orange Beach, AL

    Property size:
    1,000 SF
    Price / SF:
    $145/SF
    Added:
    Jul 26, 2024
    Days on Market:
    679
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 4688 Walker Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    65-02-12-0-000-124.000420

    Taxes and HOA fees

    Tax Description
    215 (S) 204.3 '(D) X 710' IRR UNDIVIDED UNIT NO 7 OF COMMON A REA & THE RIGHT TO POSSESS BOA T SLIP# 3 IN ORINOCO COVE SLID ES 1604-B, 1672-B & 1703-A LYING IN THE CITY OF ORANGE BEACH GR SEC 12-T9S-RSE (ST-WD)

    Utilities

    Water front
    1

    Building Details

    Year built
    1995
    Floors in Building
    1
    Flooring type
    Other floors-see remarks
    Architectural style
    Other

    We can help!

    Listing Contact
    Tracy Holiday

    Listing agent Tracy Holiday

    Listing office Engel and Volkers Gulf Shores 4780 Wharf Parkway East F105, Fairhope, AL

    Listing date Jul 26, 2024

    MLS# 365676 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

    • 20' x 50' boat slip in Orinoco Cove's Mess About Marina
    • Provides direct access to Terry Cove and the Gulf of Mexico via Perdido Pass
    • Slip accommodates boats up to 55 feet and includes an extended finger pier on the south side
    • HOA dues cover water; metered electricity is billed separately
    • Marina amenities include a clubhouse (wet bar and refrigerator), outdoor pool and deck, BBQ facilities, ice machine, and restrooms with showers and laundry
    • Slip owners may lease the slip for rental income; liveaboards and commercial activities are not permitted

    Overview

    This offering is for a premium boat slip in Orinoco Cove’s Mess About Marina. The slip measures 20 feet by 50 feet and is described as accommodating boats up to 55 feet. An extended finger pier on the south side is included to support boarding and access. Upgraded power and water connections are available at the slip, and the HOA dues cover water while metered electricity is billed separately.

    Slip access provides direct waterway routing to Terry Cove and the Gulf of Mexico via Perdido Pass. The marina is also described as offering views of the Perdido Pass Bridge and Robinson and Bird Islands. Marina amenities included with ownership are described as a clubhouse with a wet bar and refrigerator, an outdoor pool and deck area, BBQ facilities, an ice machine, and bathrooms with showers and laundry facilities.

    This slip ownership is positioned for boat owners seeking convenient marina docking with on-site amenities and straightforward utilities. The purchase includes an option to lease the slip, which is described as offering rental income potential, subject to the marina’s rules. Please note that liveaboards and commercial activities are not permitted. Buyers are encouraged to verify all information during due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marinas

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Food Market HVAC Service Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange Beach
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.548131
    Latitude
    30.294071

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    FAQs

    What type of property is this?
    Marina - For sale slip in Orinoco Cove’s Mess About Marina with access to Terry Cove and the Gulf via Perdido Pass.
    Where is this marina located?
    The property is located at 4688 Walker Avenue Orange Beach, AL.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: 20' x 50' boat slip in Orinoco Cove's Mess About Marina; Provides direct access to Terry Cove and the Gulf of Mexico via Perdido Pass; Slip accommodates boats up to 55 feet and includes an extended finger pier on the south side
    (251) 752-2245
    We can help!
    Listing Contact
    Tracy Holiday
    Request Owner's contact information
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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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