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    Unzoned Corner Commercial Land Title is generated by Realmo AI

    48980 Rabun Road, Bay Minette, AL 36507

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    Claim this Listing
    For Sale
    $500,000

    LAND - Bay Minette, AL

    Lot size:
    0.74 Acres
    Added:
    Feb 17, 2025
    Days on Market:
    476
    Last Refresh:
    Jun 8 at 9:06 am

    Property Features for 48980 Rabun Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Not Zoned,Outside Corp Li
    Standard status
    Active
    APN
    05-18-08-27-0-000-005.001
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Description
    222' X 122.84' IRR FROM NW COR SEC 27 RUN E 712.18' TO E ROW CO HWY 47 FOR POB CONT E 122.84' S 217' W 174.9' N 222' TO POB SEC 27 T1S R3E

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    Listing Contact
    Patty Helton Davis
    Patty Helton Davis

    Listing agent Patty Helton Davis License #8210

    Listing office PHD Realty, LLC 1812 South Main Street, Atmore, AL

    Listing date Feb 17, 2025

    MLS# 374330 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

    • 0.74‑acre commercial development land in Bay Minette, on busy 4‑lane Hwy 287/Rabun Rd
    • Corner lot with 345+/- ft paved frontage on Rabun Rd/Hwy 287 and Ransom Stewart Ln
    • Less than 2 miles from I‑65 with convenient access for customers and commuters
    • Located in an Opportunity Zone and SBA HUBZone
    • Property previously operated as a service station with 4 underground tanks (2 small, 2 large); removal quote available and negotiable with offer
    • Surrounded by nearby development including the $5B Novelis plant (South Alabama Mega Site) and a 116‑site RV park within 20 minutes

    Overview

    This vacant commercial development parcel is a 0.74-acre corner lot offered as “Not Zoned, Outside Corp Li.” The property is previously improved with the history of a service station and includes four underground tanks (two small and two large), with a removal quote available and negotiable with an offer. The site has paved frontage along the corner for straightforward vehicular access and visibility.

    Located at 48980 Rabun Road in Bay Minette, Alabama, the lot sits on a busy four-lane corridor identified as Hwy 287/Rabun Rd and is also noted with frontage on Ransom Stewart Ln. The remarks cite a location approximately 2 miles from I-65, supporting convenient access for customers and commuters. The listing also states the property is within both an Opportunity Zone and an SBA HUBZone.

    With zoning described as unzoned, the property may be considered for a range of commercial uses subject to applicable approvals and requirements. Its unzoned status can be relevant to operators and developers who want flexibility when evaluating a site for an office building, fast-food, or other commercial development concepts. The combination of corner placement, paved frontage, and the cited proximity to major growth initiatives may make the parcel worth a closer look for buyers comparing development-ready sites.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Minette
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.765627
    Latitude
    30.939537

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    FAQs

    What type of property is this?
    Commercial land - Unzoned corner parcel on busy Hwy 287/Rabun Rd with paved frontage, suitable for varied commercial development ideas.
    Where is this commercial land located?
    The property is located at 48980 Rabun Road Bay Minette, AL.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: 0.74‑acre commercial development land in Bay Minette, on busy 4‑lane Hwy 287/Rabun Rd; Corner lot with 345+/- ft paved frontage on Rabun Rd/Hwy 287 and Ransom Stewart Ln; Less than 2 miles from I‑65 with convenient access for customers and commuters
    (251) 368-1063
    We can help!
    Listing Contact
    Patty Helton Davis
    Patty Helton Davis
    Real Estate License ID: 8210
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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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