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    Multi-Family Development Land with Prepaid Taps Title is generated by Realmo AI

    County Road 99, Lillian, AL 36549

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    For Sale
    $799,900

    MULTI_FAMILY - Lillian, AL

    Lot size:
    8.50 Acres
    Added:
    May 14, 2026
    Days on Market:
    22
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for County Road 99

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Appliances
    No Appliances
    Standard status
    Active
    APN
    52-08-25-1-001-007.000
    Lot size
    8.50 Acres

    Taxes and HOA fees

    Tax Description
    8.3 AC BEG AT NE COR OF GR 25, RUN W 1200'(S) TO POB, TH RUN SE 945'(S) TO N R/W LINE OF CO HWY 99, RUN SW ALG R/W 265'( S), TH NW 1200'(S), TH E 500'(S) TO POB GR 25-T7S-R6E (WD SU RVIVORSHIP)

    Utilities

    Water front
    1

    Building Details

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

    We can help!

    Listing Contact
    Shannon Young

    Listing agent Shannon Young License #125562

    Listing office Coldwell Banker Coastal Realty 34491 US Hwy 98, Lillian, AL

    Listing date May 14, 2026

    MLS# 396557 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

    • Under construction residential multi‑family development planned in Lillian
    • Prepaid water and sewer taps included: 25 taps, with additional taps available upon request
    • Pre‑approved 2005 architectural plans available for 51 villas
    • Plans include community clubhouse and pool
    • Development adjacent to the Spanish Cove community

    Overview

    This residential multi-family development parcel includes 25 prepaid water and sewer taps, with additional taps available upon request. The offering also includes pre-approved architectural plans dated 2005 for 51 villas, along with a clubhouse and a pool, supporting a cohesive community-style layout for future construction.

    The property is located on County Road 99 in Lillian, Alabama (36549). Public remarks note adjacency to the Spanish Cove community.

    For developers and builders, the prepaid utilities and existing 2005 plan set can help streamline early project planning when pursuing a multi-family villa concept with shared amenities. The seller indicates the plans are available upon request and instructs buyers to perform their own due diligence, including verification of all information during the due diligence period.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lillian
    County
    Baldwin
    State
    Alabama
    Longitude
    -87.4591
    Latitude
    30.3966

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    FAQs

    What type of property is this?
    Residential land & home lot - Residential multi-family development land with 25 prepaid water and sewer taps plus pre-approved 2005 plans for 51 villas.
    Where is this residential land & home lot located?
    The property is located at County Road 99 Lillian, AL.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Under construction residential multi‑family development planned in Lillian; Prepaid water and sewer taps included: 25 taps, with additional taps available upon request; Pre‑approved 2005 architectural plans available for 51 villas
    (251) 800-2509
    We can help!
    Listing Contact
    Shannon Young
    Real Estate License ID: 125562
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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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