Alabama Barefoot Waterfront Residential Development Opportunity

Barefoot Bay is a fully developed waterfront subdivision on Lake Eufaula, featuring 23 deeded residential lots. The property offers a rare opportunity for developers to acquire 3 completed homes and all remaining build-ready lots, with all utilities and development fees paid. Up-and-coming area with property values increasing steadily. Key Highlights: 23 total homes planned 3 completed homes included Average home size: 1,790 sq ft First home sold at $241 per sq ft (~$431K per home) All lots are ready for immediate construction Full access to 45,000-acre Lake Eufaula Only known property with deeded lake-access lots Asking Price (Entire Project): $2.1 Million Development Status Water: Installed & Paid Sewer: Installed & Paid Power: Installed & Paid Road Infrastructure: Lot-ready, partially paved Development Fees: Paid Lots Build-Ready: 23 total, 19 remaining Developer Pro-Forma (Conservative) Assumptions: Remaining lots to build: 20 (3 completed homes already sold/included) Average home size: 1,790 sq ft Sale price per sq ft: $241 (validated by first home sale) Estimated construction cost per sq ft: $120 (conservative) Average Home Sale Price: 1,790 × $241 = $431,390 Estimated Construction Cost: 1,790 × $120 = $214,800 Gross Margin per Home: $431,390 − $214,800 = $216,590 Total Homes to Sell (Remaining 20 lots): 20 × $431,390 = $8,627,800 Total Construction Costs (Remaining 20 homes): 20 × $214,800 = $4,296,000 Total Gross Profit (Remaining Lots): $8,627,800 − $4,296,000 = $4,331,800 Including 3 Completed Homes: Sale proceeds already realized: 3 × $431,390 = $1,294,170 Total potential gross revenue: $8,627,800 + $1,294,170 ≈ $9.92 Million Total estimated construction cost: $4,296,000 + cost of completed homes (assume $214,800 × 3 = $644,400) ≈ $4.94 Million Total potential gross profit ≈ $4.98 Million Entry Price vs Potential: Purchase Price: $2.1 Million Potential Gross Revenue: ~$9.92 Million Projected Gross Profit: ~$4.98 Million Margin on Entry Price: ~237% (before financing, marketing, and soft costs) Unique Value Proposition for Developers Deeded Lake Access: Extremely limited inventory with permanent lake rights. Proven Pricing: First home sold at $241/sq ft confirms market demand. Low-Risk Entry: All utilities and development costs paid; lots are build-ready. Immediate Cash Flow: 3 homes already completed, 20 lots ready for construction. Strong Exit Potential: Phased build-to-sell or portfolio sale; high-demand waterfront buyers.