Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land on Elk River Title is generated by Realmo AI

    9 Adah Avenue, Athens, AL 35611

    View on Map
    Claim this Listing
    For Sale
    $169,000

    LAND - Athens, AL

    Lot size:
    2.86 Acres
    Added:
    May 6, 2026
    Days on Market:
    25
    Last Refresh:
    May 30 at 7:06 pm

    Property Features for 9 Adah Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    2.86 Acres

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Cody Smith

    Listing agent Cody Smith License #110514

    Listing office Smith Realty & Auction 15708 US Highway 72, Athens, AL

    Listing date May 6, 2026

    MLS# 21915221 Listing URL

    Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Elk River Frontage: Rare opportunity to own land directly on the Elk River.
    • Spacious Lot: Provides ample space to build a dream home, weekend getaway, or recreational retreat.
    • Water Access: Direct access to the Elk River for fishing, boating, and exploring Wheeler Lake.
    • Outdoor Recreation: Ideal for outdoor enthusiasts with opportunities for various water activities.
    • Peaceful Setting: Experience the tranquility of nature.
    • Convenient Location: Short drive to local conveniences.

    Overview

    This 2.86-acre lot is located on the Elk River. The property offers river frontage and space to build a home or recreational retreat. The location provides water access for fishing and boating. It is situated a short drive from local conveniences.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Athens
    County
    Limestone
    State
    Alabama
    Longitude
    -87.201415
    Latitude
    34.824222

    Nearby Similar for Sale

    • $2,200,000
      4,929 SF

      Former Restaurant Building in Athens

      Convertible restaurant building with ample parking and road frontage.
      21366 Athens Limestone Boulevard, Athens, AL 35611
      View Details
    • $459,900
      3,200 SF

      Versatile Commercial Building Near Downtown

      3,200 sqft commercial building with expansion potential near downtown Athens.
      18710 Jefferson Street, Athens, AL 35614
      View Details
    • $525,000
      3,750 SF

      Versatile Commercial Property Near Highway

      3750 SF multi-purpose property with excellent highway access.
      1609 Hines Street S, Athens, AL 35611
      View Details
    • $419,900
      5,200 SF

      Athens Warehouse with Fenced Lot

      5,200 sq ft warehouse with office and storage.
      16097 Parker Road, Athens, AL 35611
      View Details
    • $399,900
      1,000 SF

      High-Visibility Commercial Opportunity in Athens

      Commercial property with frontage on Hwy 72 and Zehner Road.
      16021 Zehner Road, Athens, AL 35611
      View Details
    • $1,400,000
      3,500 SF

      Athens Warehouse For Sale

      3,500 sqft warehouse on 8.3 acres in Athens, AL.
      2113 Jefferson Street, Athens, AL 35611
      View Details
    • $89,900
      2,400 SF

      Half-Acre Tract with Metal Shop

      Half-acre tract with metal shop in Athens, Alabama.
      Tract 2 Yarbrough Road, Athens, AL 35613
      View Details
    • $599,000
      2,000 SF

      Unzoned Commercial Property Near Publix

      Unrestricted commercial lot near Publix, suitable for various businesses.
      24747 E US Highway 72, Athens, AL 35613
      View Details
    • $1,000,000
      4,900 SF

      Unzoned Land Near Interstate 65

      2.65 acres suitable for retail, medical, or multi-family use.
      24497 1/2 W Highway 72, Athens, AL 35613
      View Details
    • $205,000
      936 SF

      Commercial Lot in Athens, AL

      Commercial lot with existing building for sale in Athens.
      910 Jefferson Street, Athens, AL 35611
      View Details
    • $125,000

      Undeveloped Land Near Toyota Plant

      1.8 acres of surveyed, unrestricted land near new Toyota plant.
      25177 Capshaw Road, Athens, AL 35613
      View Details
    • $175,000

      Commercial Land Near Athens

      Fenced gravel lot with utilities, suitable for commercial investment.
      25871 Walter Lee Drive, Athens, AL 35613
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 2.86 acres on Elk River in Athens, Alabama.
    Where is this waterfront land located?
    The property is located at 9 Adah Avenue Athens, AL.
    What is the asking price?
    The asking price for this property is $169,000.
    What are key features of this property?
    This property features: Elk River Frontage: Rare opportunity to own land directly on the Elk River.; Spacious Lot: Provides ample space to build a dream home, weekend getaway, or recreational retreat.; Water Access: Direct access to the Elk River for fishing, boating, and exploring Wheeler Lake.
    (256) 497-6689
    We can help!
    Listing Contact
    Cody Smith
    Real Estate License ID: 110514
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    9 Adah Avenue, Athens, AL 35611
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!