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    Motor Coach Resort Estate Lot Title is generated by Realmo AI

    833 Carrozza Lane lot 158, Foley, AL 36535

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    For Sale
    $279,999

    LAND - Foley, AL

    Property size:
    224 SF
    Price / SF:
    $1,249/SF
    Added:
    Nov 3, 2023
    Days on Market:
    945
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 833 Carrozza Lane lot 158

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    61-05-15-0-000-005.001.952

    Utilities

    Utilities
    Cable Available
    Water front features
    Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Denise Peoples

    Listing agent Denise Peoples License #102228

    Listing office Bella Terra Realty, LLC 101 Viabella Terra, Foley, AL

    Listing date Nov 3, 2023

    MLS# 354013 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

    • North‑facing coach estate lot overlooking the resort lake (Lake Front).
    • Includes a 224 SF custom remodeled casita (remodeled as of 10/2023) with cable TV hookup.
    • Casita features Renai heating/cooling, Renai on‑demand water heater with automatic winterizer, and new water & warp resistant flooring.
    • Custom kitchen includes Magic Chef mini refrigerator with freezer, sink, and Whirlpool dishwasher; full tiled walk‑in shower with rain shower head.
    • Outdoor living space: 10' x 14' screened gazebo on a large paved patio, freshly stained (10/2023) with ceiling fan/light and cable‑ready.
    • Resort amenities: 6,000 SF clubhouse, zero entry infinity edge pool, hot tub, fitness center, wet/dry sauna, movie theater, stocked lake, dog parks & dog wash.

    Overview

    This property is a motor coach resort estate lot with a custom casita and outdoor gathering space. Lot 158-833 is north-facing and overlooks the resort’s lake. The casita is a custom-built structure with a total of 224 square feet and was completely remodeled in October 2023. Inside, the living area is set up for flexible guest use, and includes cable TV hookups, new water- and warp-resistant flooring, a ceiling fan, recessed lighting, and a Renai heating/cooling system with an on-demand water heater and automatic winterizer feature. The custom kitchen includes a Magic Chef mini refrigerator with freezer, a sink, and a Whirlpool dishwasher, along with ample storage, soft-close drawers, and a large pantry. The full bath features a custom glass bowl sink and vanity, plus a full-size tiled walk-in shower with both rain and handheld shower heads.

    The outdoor area includes a 10' x 14' screened gazebo on an extra-large paved patio, suited for entertaining while taking in the lake view. The gazebo was freshly stained in October 2023 and includes a ceiling fan/light, electrical outlets, and cable TV-ready connections. The site also features lush landscaping and a stacked block retaining wall.

    As part of the resort, the property offers access to a 6,000 square foot clubhouse, a zero entry infinity edge pool, hot tub, fitness center, wet/dry sauna, and a movie theater room, along with a stocked lake, dog parks and a dog wash, and daily activities for guests. The listing also notes low COA fees and property tax, and buyers are instructed to verify all information during due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Resorts

    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
    Foley
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.6605316
    Latitude
    30.3466048

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    FAQs

    What type of property is this?
    Resort - North-facing lake-view lot with a remodeled casita and screened gazebo for convenient on-site guest use.
    Where is this resort located?
    The property is located at 833 Carrozza Lane lot 158 Foley, AL.
    What is the asking price?
    The asking price for this property is $279,999.
    What are key features of this property?
    This property features: North‑facing coach estate lot overlooking the resort lake (Lake Front).; Includes a 224 SF custom remodeled casita (remodeled as of 10/2023) with cable TV hookup.; Casita features Renai heating/cooling, Renai on‑demand water heater with automatic winterizer, and new water & warp resistant flooring.
    (256) 496-0111
    We can help!
    Listing Contact
    Denise Peoples
    Real Estate License ID: 102228
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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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