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    32 Co Rd Elberta, AL 36530

    For Sale
    $6,110,000

    Prime 235-acre development site near OWA.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 235-acre property presents a unique investment opportunity in Foley, Alabama. Ideally situated just north of OWA on County Road 32, this gently sloping land boasts excellent drainage, minimizing potential foundation costs. Currently utilized as farmland under a ground lease, the property offers significant development potential. The front 80 acres, bordering County Road 32, are zoned B-2, while the remaining 155 acres are zoned AO within the City of Foley. A newly constructed and stocked pond enhances the property's appeal. Included in the sale is a gravel road on the east side, along with an existing access agreement for neighboring property owners to the south. The asking price is $6,110,000, translating to approximately $26,000 per unit. Detailed zoning maps and an aerial photograph highlighting the property boundaries are available upon request. An aerial video showcasing the property is also accessible online. This versatile land parcel is suitable for a variety of commercial and residential uses, given its zoning and proximity to key amenities. The property's size and strategic location make it an attractive prospect for large-scale development projects. The existing infrastructure, including the gravel road and access agreement, further enhances its development potential.

    Property Features for 32 Co Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    10,236,600 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Map

    City
    Elberta
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.5878107
    Latitude
    30.4728843

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    FAQs

    What type of property is this?
    Multifamily property - Prime 235-acre development site near OWA.
    Where is this multifamily property located?
    The property is located at 32 Co Rd Elberta, AL.
    What is the asking price?
    The asking price for this property is $6,110,000.
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    32 Co Rd Elberta, AL 36530
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    Realmo Value Estimation

    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.

    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.

    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
    32 Co Rd Elberta, AL 36530
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