Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot with Lake Access Title is generated by Realmo AI

    Grist Mill Isle, Phenix City, AL 36867

    View on Map
    Claim this Listing
    Picture of Land at Grist Mill Isle, Phenix City, AL
    For Sale
    $137,000

    LAND - Phenix City, AL

    Type:Single Family Residence
    Lot size:
    0.65 Acres
    Added:
    Aug 26, 2025
    Days on Market:
    270
    Last Refresh:
    May 22 at 1:06 pm

    Property Features for Grist Mill Isle

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    R
    Vegetation
    Wooded
    Standard status
    Active
    APN
    1408270000201000
    Lot size
    0.65 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    982

    We can help!

    Listing Contact
    Brady Bowden

    Listing agent Brady Bowden License #100945

    Listing office Bowden Realty 701 13th Street, Phenix City, AL

    Listing date Aug 26, 2025

    MLS# E101792 Listing URL

    Copyright © 2026 East Alabama Board of 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

    • Direct Lake Access: Enjoy boating, fishing and swimming.
    • Spacious 0.62‑Acre Homesite: Ideal for a custom build.
    • Desirable Rock Island Subdivision: Known for its peaceful setting.
    • Great Location: Easy access to nearby shopping, dining, and schools.
    • Opportunity for a Custom Build: Create your dream home.
    • Blend of Natural Beauty and Modern Convenience: Enjoy privacy and tranquility of lakeside living.

    Overview

    Located in Phenix City, AL, this 0.62-acre residential lot offers lake access within the Rock Island subdivision. The property is ideal for building a custom home with space for outdoor living, gardens, or recreation. Rock Island is known for its peaceful setting, natural surroundings, and friendly neighborhood feel. The location provides easy access to nearby shopping, dining, and schools while maintaining the privacy and tranquility of lakeside living. The lot size is 0.6499 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Phenix City
    County
    Lee
    State
    Alabama
    Longitude
    -85.016819
    Latitude
    32.520818

    Nearby Similar for Sale

    • $325,000
      1,542 SF

      Phenix City Freestanding Office Building

      Freestanding office building with five private offices in Phenix City.
      608 17th Street, Phenix City, AL 36867
      View Details
    • $180,000
      1,181 SF

      Phenix City Commercial Office Space

      Turnkey office space in Phenix City's downtown area.
      710 12th Street, Phenix City, AL 36867
      View Details
    • $325,000
      1,818 SF

      Professional/Medical Office Building Opportunity

      Freestanding 1,818 SF office building in Phenix City, Alabama.
      1621 Broad Street, Phenix City, AL 36867
      View Details
    • $180,000
      1,181 SF

      Downtown Phenix City Office Space

      Turnkey office space in a desirable business corridor.
      710 12th Street, Phenix City, AL 36867
      View Details
    • $115,000
      1,600 SF

      Phenix City Commercial Opportunity

      Commercial building with potential office space and rental income.
      3819 Highway 80 W, Phenix City, AL 36869
      View Details
    • $325,000
      1,542 SF

      Phenix City Freestanding Office Building

      Freestanding office building with five private offices in Phenix City.
      608 17th Street, Phenix City, AL 36867
      View Details
    • $175,000
      2,004 SF

      Phenix City Commercial Corner Lot

      Corner lot in the heart of Phenix City, Alabama.
      812 14th Street, Phenix City, AL 36867
      View Details
    • $140,000
      1,386 SF

      Move-in Ready Phenix City Office

      Conveniently located and recently renovated office building in Phenix City.
      1214 14th Street, Phenix City, AL 36867
      View Details
    • $299,900
      2,436 SF

      Phenix City Office Space

      Office space with parking lot potential in Phenix City.
      1503 Broad Street, Phenix City, AL 36867
      View Details
    • $115,000
      1,600 SF

      Phenix City Commercial Opportunity

      Commercial building with potential office space and rental income.
      3819 Highway 0080 W, Phenix City, AL 36869
      View Details
    • $140,000
      1,357 SF

      Move-in Ready Office Building

      Conveniently located office building with recent renovations and dedicated parking.
      1214 14th Street, Phenix City, AL 36867
      View Details
    • $175,000
      2,880 SF

      Phenix City Commercial Building

      2,880 SF commercial building suitable for various business types.
      1006 Gatewood Drive, Phenix City, AL 36869
      View Details

    FAQs

    What type of property is this?
    Land - 0.62-acre lot in Rock Island subdivision with lake access.
    Where is this land located?
    The property is located at Grist Mill Isle Phenix City, AL.
    What is the asking price?
    The asking price for this property is $137,000.
    What are key features of this property?
    This property features: Direct Lake Access: Enjoy boating, fishing and swimming.; Spacious 0.62‑Acre Homesite: Ideal for a custom build.; Desirable Rock Island Subdivision: Known for its peaceful setting.
    (706) 332-4322
    We can help!
    Listing Contact
    Brady Bowden
    Real Estate License ID: 100945
    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
    Grist Mill Isle, Phenix City, AL 36867
    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!