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    AL-59, Bay , AL Minette, AL 36507

    • Land
    For Sale
    View listing
    $750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for AL-59, Bay , AL

    Property type
    Land
    Property subtype
    Residential land & home lots

    Description

    This 10-acre B2 property has been surveyed, divided into 5 lots, and is ready for commercial development. Prime Lot 1 is now available! Situated on State Highway 59, just 4 miles from the Mega site/Novelis, this property boasts approximately 430 feet of frontage on State HWY 59 and 740 feet on Jaycee Road, with a traffic light at Baldwin County High School. Included in the images is a master plan featuring a grocery store/restaurant, hotel/restaurant, and a plaza as potential development options. Located on the southbound lane leading to the Gulf Coast's white sand beaches, this presents the first chance for travelers to stop for food and groceries. Lot 1, spanning 1.21 acres, is offered at $750,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Minette
    County
    State
    Alabama
    Longitude
    -87.7732
    Latitude
    30.8792

    Comparable in this City

    • Value Estimation by Request

      1 Acre For Sale: 3/10 Mile to I-65, Commercial Potential Near Novelis & Megasite

      1 Acre For Sale: 3/10 Mile to I-65, Commercial Potential Near Novelis & Megasite
      50280 Rabun Road, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request

      2.6 ACRES For Sale .5 MILE FROM NOVELIS RECYCLING PLANT

      2.6 ACRES For Sale .5 MILE FROM NOVELIS RECYCLING PLANT
      49260 Rabun Rd, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request

      8.5 Acres Vacant Land for Sale on Rabun Rd.

      8.5 Acres Vacant Land for Sale on Rabun Rd.
      50225 Rabun Rd, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request

      3.44 Acres Land For Sale - Bay Minette Parcel

      3.44 Acres Land For Sale - Bay Minette Parcel
      Highway 31, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request

      30,200 SF Land For Sale - 5th Street Lots

      30,200 SF Land For Sale - 5th Street Lots
      5th St, Bay Minette, AL 36507
      View Details
    • Value Estimation by Request

      0.70 Acres Commercial Lot For Sale

      0.70 Acres Commercial Lot For Sale
      0 hand avenue, Bay Minette, AL 36507
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000.00 Acres

      Bay Minette Commercial Land Opportunity

      Prime Vacant Lot, City Utilities Available
      8 Hospital St, Bay Minette, AL 36507
      View Details
    • $830,000
      20.00 Acres

      Prime Bay Minette Commercial Land

      20 acres, Hwy 287 frontage, excellent development potential.
      14219 Paterson Ln, Bay Minette, AL 36507
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    • $1,200,000
      1.00 Acre

      Prime Bay Minette Commercial Land

      High-growth area, I-65 access, development potential.
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    • $800,000
      0.74 Acres

      Bay Minette Commercial Land

      High-traffic Hwy 287 corner lot, near Novelis.
      48980 Rabun Rd, Bay Minette, AL 36507
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    • $800,000
      0.74 Acres

      Bay Minette Commercial Land

      0.74-acre lot, prime location, high traffic
      48980 Rabun Rd, Bay Minette, AL 36507
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    • $4,200,000
      56.00 Acres

      I-65 Commercial Land Development

      56 acres, prime location, high traffic.
      50924 Rabun Rd, Bay Minette, AL 36507
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    Similar Nearby for Lease

    • $4 SF/Yr
      1,153,469 SF

      Bay Minette Industrial Land

      Prime Baldwin County lots, build-to-suit options.
      St 287 highway, Bay Minette, AL 36507
      View Details
    • $3,000 /Mo
      130,680 SF

      Prime Bay Minette Industrial Land

      Three-acre paved yard, ideal for industrial use.
      801 US Highway 31, Bay Minette, AL 36507
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    • $0.42 SF/Yr

      Industrial Land with Rail Access

      8.1 acres of industrial land for lease with rail access.
      807 Moran St, Bay Minette, AL 36507
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    • $6,500 /Mo
      1,530 SF

      Bay Minette Texaco: Prime Retail Space

      Newly renovated Texaco station; 1,530 sq ft.
      415 D'Olive Street, Bay Minette, AL 36507
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    • $5 SF/Yr
      90,000 SF

      90,000 SF Warehouse For Lease

      90,000 SF warehouse space with public warehousing services available.
      801 Us Highway 31, Bay Minette, AL 36507
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    • $2,500 /Mo
      1,773 SF

      Bay Minette Drive-Thru Retail Space

      High-traffic corner, 1773 SF, NNN Lease
      910 Bay Minette Bypass, Bay Minette, AL 36507
      View Details
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    AL-59, Bay , AL
    Minette, AL 36507
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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.

    More about this property
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