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31396136
31396137

19157 Keller Rd, Foley, AL 36535

$799,900
66 days on market
Updated 27 days ago

Keller Rd 10 Acres

Details
Property Type Land
Sub Type Residential
Pro-Forma Cap Rate 0.45%
Pro-Forma NOI $3,600
Broker Co-Op Yes
Acreage 10.000
Zoning Residential
Ownership Full
Sale Condition 1031 exchange

Income producing with additional development potential in a rapidly growing area.

Marketing description

This 10-acre parcel is a BUILDER or INCOME OPPORTUNITY recently rezoned RSF-1 (min lot size of 30,000)!

The property is level with mature trees and a quaint “UNNAMED” Creek running the length, approx 330'

(a tributary to Bon Secour River) adding privacy, beauty and tranquility, rarely found w/acreage in this area.

The attached proposed plat map locates the creek and wetlands, showing approx. 90% of the land being dry

and mostly buildable. Public utilities (water, ele & sewer) are at the street. Preliminary approval of the 3 lot

subdivision is in hand, pending final plat approval. However a buyer could request plat revision to add addition

lots if roads are added. On what is to become lot #3, it is grandfathered in with (2) Doublewides, ea w/4bdrms

& 2bths, 2018 models. Vacated by tenants once placed on the market. Each home was rented long-term with

$43,500 annual cashflow and operating expenses. A 4” well suitable for all three lots currently provides

drinking water to the two existing homes. A shared driveway running adjacent to Keller Rd will service each lot.

Buyers to participate in 1031 exchange at sellers expense. Most dwelling types allowed, including Tiny Homes

and Mobiles. Buyer/Selling agent to verify all information during due diligence. Owner is an AL licensed Real

Estate Agent.

Listing Contacts

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