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<!--Created on: 2/24/2022 9:39:07 PM-->
<!--Modified on: 2/24/2022 9:39:07 PM-->
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentInProcess" xlink:to="us-gaap_DevelopmentInProcess_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopmentInProcess_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development in Process</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DevelopmentInProcess_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction in Process, at Cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Investment Property, at Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Real Estate, at Cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Investment Property, Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Less, Accumulated Depreciation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="us-gaap_RealEstateInvestmentPropertyNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Investment Property, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate-Net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts" xlink:label="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts" xlink:to="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Real Estate, Land and Land Development Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and Development Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InventoryRealEstateLandAndLandDevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Land and Development Costs</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Lease Assets-Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Held for Sale-See Note 25</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Assets Held for Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment in Joint Ventures</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent" xlink:label="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent" xlink:to="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Securities, FV-NI</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment in Alpine Income Property Trust, Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated Fair Value (Level 1 Inputs)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCredits" xlink:label="cto_MitigationCredits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCredits" xlink:to="cto_MitigationCredits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the cost basis of mitigation credits as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment mitigation credits assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_MitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Migration credits</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditRights" xlink:label="cto_MitigationCreditRights" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditRights" xlink:to="cto_MitigationCreditRights_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The carrying amount of mitigation credit rights as at the end of the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credit Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credit Rights</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:to="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans and Leases Receivable, Net Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Loan and Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, at Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCash" xlink:label="us-gaap_RestrictedCash" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCash" xlink:to="us-gaap_RestrictedCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxReceivable" xlink:label="us-gaap_IncomeTaxReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReceivable" xlink:to="us-gaap_IncomeTaxReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Taxes Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refundable Income Taxes</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Assets - See Note 13</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Other Assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Identifiable Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:to="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:to="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued Liabilities and Other Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued and Other Liabilities-See Note 19</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccruedLiabilitiesAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Accrued and Other Liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredRevenue" xlink:label="us-gaap_DeferredRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="us-gaap_DeferredRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue-See Note 20</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total deferred revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="us-gaap_BelowMarketLeaseNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BelowMarketLeaseNet" xlink:to="us-gaap_BelowMarketLeaseNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BelowMarketLeaseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below Market Lease, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_BelowMarketLeaseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BelowMarketLeaseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Lease Liabilities-Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BelowMarketLeaseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below market lease value</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xlink:to="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Liabilities Held for Sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities Held for Sale-See Note 25</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:to="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Income Tax Liabilities, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Income Taxes-Net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Long-Term Debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitments and Contingencies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitments and Contingencies-See Note 23</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity Attributable to Parent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Value, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock - 100,000,000 shares authorized; $0.01 par value, 6.375% Series A Cumulative Redeemable Preferred Stock, $25.00 Per Share Liquidation Preference, 3,000,000 shares issued and outstanding at December 31, 2021; 50,000 shares authorized; $100.00 par value, no shares issued or outstanding at December 31, 2020</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Value, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock - 500,000,000 shares authorized; $0.01 par value, 7,351,703 shares issued and 5,916,226 shares outstanding at December 31, 2021; 25,000,000 shares authorized; $1.00 par value, 7,310,680 shares issued and 5,915,756 shares outstanding at December 31, 2020</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockCommonValue" xlink:label="us-gaap_TreasuryStockCommonValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockCommonValue" xlink:to="us-gaap_TreasuryStockCommonValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockCommonValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, Common, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_TreasuryStockCommonValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock - 0 shares at December 31, 2021 and 1,394,924 shares at December 31, 2020</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additional Paid in Capital, Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additional Paid-In Capital</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Retained Earnings (Accumulated Deficit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Retained Earnings</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Other Comprehensive Income (Loss), Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Other Comprehensive Income (Loss)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity Attributable to Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Stockholders' Equity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Liabilities and Stockholders' Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Liabilities and Shareholders' Equity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:label="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:to="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Par or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, par value (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Shares Issued</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Shares Outstanding</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage" xlink:label="us-gaap_PreferredStockDividendRatePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendRatePercentage" xlink:to="us-gaap_PreferredStockDividendRatePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Dividend rate (as a percent)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend rate (as a percent)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend Rate</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SharePrice" xlink:label="us-gaap_SharePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Closing share price (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:to="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Par or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, par value (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Shares, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, shares issued</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Shares, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, shares outstanding</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockSharesAbstract" xlink:label="us-gaap_TreasuryStockSharesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAbstract" xlink:to="us-gaap_TreasuryStockSharesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockSharesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, Shares [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockSharesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockCommonShares" xlink:label="us-gaap_TreasuryStockCommonShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockCommonShares" xlink:to="us-gaap_TreasuryStockCommonShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockCommonShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, Common, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockCommonShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, shares held</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement [Abstract]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segments [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segments [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertiesSegmentMember" xlink:label="cto_IncomePropertiesSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertiesSegmentMember" xlink:to="cto_IncomePropertiesSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertiesSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the income properties business segment of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertiesSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ManagementServicesSegmentMember" xlink:label="cto_ManagementServicesSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ManagementServicesSegmentMember" xlink:to="cto_ManagementServicesSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ManagementServicesSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information relating to management service segment of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ManagementServicesSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Fee Income</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CommercialLoanInvestmentsSegmentMember" xlink:label="cto_CommercialLoanInvestmentsSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CommercialLoanInvestmentsSegmentMember" xlink:to="cto_CommercialLoanInvestmentsSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CommercialLoanInvestmentsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the commercial loan investments business segment of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CommercialLoanInvestmentsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Income from Commercial Loan and Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstateOperationsSegmentMember" xlink:label="cto_RealEstateOperationsSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstateOperationsSegmentMember" xlink:to="cto_RealEstateOperationsSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionOnREITConversionValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity impact pertaining to special distribution on REIT conversion.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionOnREITConversionValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution On R E I T Conversion, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SpecialDistributionOnREITConversionValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution - REIT Conversion</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionPerShare" xlink:label="cto_SpecialDistributionPerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SpecialDistributionPerShare" xlink:to="cto_SpecialDistributionPerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount per share of special distribution on REIT conversion.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SpecialDistributionPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Dividends, Per Share, Cash Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash dividends paid and declared (in dollars per share)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Dividends (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Statement of Cash Flows [Abstract]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Flow from Operating Activities:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Income Attributable to the Company</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to Reconcile Net Income Attributable to the Company to Net Cash Provided by Operating Activities:</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xlink:label="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xlink:to="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation, Depletion and Amortization, Including Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation, Depletion and Amortization, Including Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and Amortization</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfBelowMarketLease" xlink:label="us-gaap_AmortizationOfBelowMarketLease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfBelowMarketLease" xlink:to="us-gaap_AmortizationOfBelowMarketLease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfBelowMarketLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Below Market Lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AmortizationOfBelowMarketLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Intangible Liabilities to Income Property Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_AmortizationOfBelowMarketLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accretion to Income Properties Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Debt Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Deferred Financing Costs to Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Deferred Financing Costs</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDebtDiscountPremium" xlink:to="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Debt Discount (Premium)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Discount on Convertible Notes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Discount on Convertible Debt</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets" xlink:label="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets" xlink:to="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Disposition of Property Plant Equipment and Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Disposition of Property Plant Equipment and Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_GainLossOnDispositionOfPropertyPlantEquipmentAndIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on Disposition of Real Estate and Intangible Lease Assets and Liabilities</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GainLossOnDispositionOfAssetsHeldForSale" xlink:label="cto_GainLossOnDispositionOfAssetsHeldForSale" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GainLossOnDispositionOfAssetsHeldForSale" xlink:to="cto_GainLossOnDispositionOfAssetsHeldForSale_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GainLossOnDispositionOfAssetsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Disposition of Assets Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GainLossOnDispositionOfAssetsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Disposition of Assets Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_GainLossOnDispositionOfAssetsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on Disposition of Assets Held for Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainLossOnSaleOfEquityInvestments" xlink:label="us-gaap_GainLossOnSaleOfEquityInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfEquityInvestments" xlink:to="us-gaap_GainLossOnSaleOfEquityInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfEquityInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Sale of Equity Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainLossOnSaleOfEquityInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on Sale of Equity Interest in Joint Ventures</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainLossOnSalesOfLoansNet" xlink:label="us-gaap_GainLossOnSalesOfLoansNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSalesOfLoansNet" xlink:to="us-gaap_GainLossOnSalesOfLoansNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss on sale of loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainLossOnSalesOfLoansNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss on Disposition of Commercial Loan and Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Impairment Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment Charges</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DiscountAccretionOnCommercialLoanInvestments" xlink:label="cto_DiscountAccretionOnCommercialLoanInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DiscountAccretionOnCommercialLoanInvestments" xlink:to="cto_DiscountAccretionOnCommercialLoanInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DiscountAccretionOnCommercialLoanInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the discount accretion on commercial loan investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DiscountAccretionOnCommercialLoanInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discount Accretion on Commercial Loan Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_DiscountAccretionOnCommercialLoanInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accretion of Commercial Loan and Master Lease Investment Origination Fees</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans" xlink:label="cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans" xlink:to="cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of amortization of deferred fees on acquisition of loans held in the entity's portfolio recognized in the income statement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AmortizationOfDeferredChargesFeesOnAcquisitionOfPortfolioLoans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Deferred Charges, Fees on Acquisition of Portfolio Loans</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Operating Assets [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAssetsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Assets Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAssetsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Held for Sale</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncreaseDecreaseInLandAndDevelopmentCosts" xlink:label="cto_IncreaseDecreaseInLandAndDevelopmentCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncreaseDecreaseInLandAndDevelopmentCosts" xlink:to="cto_IncreaseDecreaseInLandAndDevelopmentCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncreaseDecreaseInLandAndDevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase decrease in land and development costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncreaseDecreaseInLandAndDevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase Decrease In Land And Development Costs</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights" xlink:label="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights" xlink:to="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (decrease) in mitigation credits and mitigation credit rights.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Mitigation Credits and Mitigation Credit Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_IncreaseDecreaseInMitigationCreditsAndMitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits and Mitigation Credit Rights</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Other Operating Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Operating Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Liabilities:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accounts Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued and Other Liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Contract with Customer, Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncreaseDecreaseInLiabilitiesHeldForSale" xlink:to="cto_IncreaseDecreaseInLiabilitiesHeldForSale_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncreaseDecreaseInLiabilitiesHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The increase (decrease) during the period in book value of liabilities that the reporting entity plans to sell within one year (or one business cycle).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncreaseDecreaseInLiabilitiesHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Liabilities Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncreaseDecreaseInLiabilitiesHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities Held for Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase Decrease In Accrued Income Taxes Payable</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided By Operating Activities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of Real Estate and Intangible Lease Assets and Liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:label="us-gaap_PaymentsToAcquireLoansHeldForInvestment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:to="us-gaap_PaymentsToAcquireLoansHeldForInvestment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireLoansHeldForInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Loans Held-for-investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireLoansHeldForInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of Commercial Loan Investments and Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PaymentsToAcquireMitigationCredits" xlink:label="cto_PaymentsToAcquireMitigationCredits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PaymentsToAcquireMitigationCredits" xlink:to="cto_PaymentsToAcquireMitigationCredits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PaymentsToAcquireMitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash outflow associated with acquiring mitigation credits during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PaymentsToAcquireMitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments To Acquire Mitigation Credits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_PaymentsToAcquireMitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of Mitigation Credits</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAcquiredFromAcquisition" xlink:label="us-gaap_CashAcquiredFromAcquisition" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAcquiredFromAcquisition" xlink:to="us-gaap_CashAcquiredFromAcquisition_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAcquiredFromAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash Balance Received in Acquisition of Interest in Joint Venture</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PaymentsForProceedsFromInterestInJointVenture" xlink:label="cto_PaymentsForProceedsFromInterestInJointVenture" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PaymentsForProceedsFromInterestInJointVenture" xlink:to="cto_PaymentsForProceedsFromInterestInJointVenture_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PaymentsForProceedsFromInterestInJointVenture_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for (Proceeds from) Interest in Joint Venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PaymentsForProceedsFromInterestInJointVenture_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for (Proceeds from) Interest in Joint Venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_PaymentsForProceedsFromInterestInJointVenture_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Received from (Contribution to) Joint Ventures</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt" xlink:to="us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Debt Securities, Available-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Disposition of Property, Plant, and Equipment, Net, and Assets Held for Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:to="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfEquityMethodInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Equity Interests in Joint Ventures</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:to="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Principal Repayments on Loans and Leases Held-for-investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Principal Payments Received on Commercial Loan and Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:to="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Available-for-sale Securities, Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of Investment Securities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided By (Used In) Investing Activities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Flow from Financing Activities:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Long-Term Debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repayments of Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments on Long-Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Borrowings repaid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payoff of variable-rate mortgage loan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfLoanCosts" xlink:label="us-gaap_PaymentsOfLoanCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfLoanCosts" xlink:to="us-gaap_PaymentsOfLoanCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfLoanCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Loan Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfLoanCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Paid for Loan Fees</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance" xlink:label="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance" xlink:to="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The net cash inflow or outflow from cash proceeds from (payments for) exercise of stock options and stock issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Proceeds from (Payments for) Exercise of Stock Options and Stock Issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_CashProceedsFromPaymentsForExerciseOfStockOptionsAndStockIssuance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Exercise of Stock Options and Common Stock Issuance</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:to="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Preferred Stock, Net of Underwriting Discount and Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross Proceeds</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Repurchase of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Used to Purchase Common Stock</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:label="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:to="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments Related to Tax Withholding for Share-based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Paid for Vesting of Restricted Stock</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfStockIssuanceCosts" xlink:to="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Paid for Equity Issuance Costs</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandJointVentureMember" xlink:label="cto_LandJointVentureMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Taxes Paid, Net</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestPaidNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Paid for Interest</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionPaidInStock" xlink:label="cto_SpecialDistributionPaidInStock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:label="us-gaap_AssetImpairmentChargesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConsolidationPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Principles of Consolidation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment Reporting, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment Reporting</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Use of Estimates, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Use of Estimates in the Preparation of Financial Statements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">New Accounting Pronouncements, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Recently Issued Accounting Standards</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reclassification, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reclassifications</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="us-gaap_InvestmentPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentPolicyTextBlock" xlink:to="us-gaap_InvestmentPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment Securities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativesPolicyTextBlock" xlink:label="us-gaap_DerivativesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativesPolicyTextBlock" xlink:to="us-gaap_DerivativesPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivatives, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative Financial Instruments and Hedging Activity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value of Financial Instruments, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value of Financial Instruments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurement, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InterestIncomeOnLoanPolicyTextBlock" xlink:label="cto_InterestIncomeOnLoanPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InterestIncomeOnLoanPolicyTextBlock" xlink:to="cto_InterestIncomeOnLoanPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InterestIncomeOnLoanPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest income on loan policy.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InterestIncomeOnLoanPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Income On Loan Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InterestIncomeOnLoanPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Recognition Of Interest Income From Commercial Loan And Master Lease Investments</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPolicyTextBlock" xlink:label="cto_MitigationCreditsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPolicyTextBlock" xlink:to="cto_MitigationCreditsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:to="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trade and Other Accounts Receivable, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Receivable</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="us-gaap_RealEstatePolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePolicyTextBlock" xlink:to="us-gaap_RealEstatePolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstatePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Purchase Accounting for Acquisitions of Real Estate Subject to a Lease</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock" xlink:label="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock" xlink:to="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for real estate land and development costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Land And Development Costs Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RealEstateLandAndDevelopmentCostsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and Development Costs</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:to="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Held for Development and Sale, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales of Real Estate</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant, and Equipment</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-Lived Assets</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertiesPolicyTextBlock" xlink:label="cto_IncomePropertiesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertiesPolicyTextBlock" xlink:to="cto_IncomePropertiesPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertiesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for income properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertiesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertiesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Leases</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RevenueRecognitionIncomePropertiesPolicyTextBlock" xlink:label="cto_RevenueRecognitionIncomePropertiesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RevenueRecognitionIncomePropertiesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Recognition Income Properties Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RevenueRecognitionIncomePropertiesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease Expense</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RevenueRecognitionGolfOperationsPolicyTextBlock" xlink:label="cto_RevenueRecognitionGolfOperationsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RevenueRecognitionGolfOperationsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for revenue recognition golf operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RevenueRecognitionGolfOperationsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Recognition Golf Operations Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RevenueRecognitionGolfOperationsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Operations</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RevenueRecognitionOtherRealEstateInterestsPolicyTextBlock" xlink:to="cto_RevenueRecognitionOtherRealEstateInterestsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RevenueRecognitionOtherRealEstateInterestsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Recognition Other Real Estate Interests Policy [Text Block]</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock-Based Compensation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Tax, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Taxes</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Earnings Per Share, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Earnings Per Common Share</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:label="us-gaap_ConcentrationRiskCreditRisk" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskCreditRisk" xlink:to="us-gaap_ConcentrationRiskCreditRisk_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Concentration Risk, Credit Risk, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Concentration of Credit Risk</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Plant And Equipment [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of estimated useful lives for property, plant, and equipment</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:to="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disaggregation of Revenue [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of revenue by segment, major good and/or service, and the related timing of revenue recognition</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupClassificationAxis" xlink:label="us-gaap_DisposalGroupClassificationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupClassificationAxis" xlink:to="us-gaap_DisposalGroupClassificationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupClassificationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Classification [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupClassificationDomain" xlink:label="us-gaap_DisposalGroupClassificationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupClassificationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Classification [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Not Discontinued Operations [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupHeldForSaleOrDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupHeldForSaleOrDisposedOfBySaleNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupHeldForSaleOrDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupHeldForSaleOrDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupHeldForSaleOrDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Disposed of by Sale, Not Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Disposed of by Sale, Not Discontinued Operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TableTextBlock" xlink:label="us-gaap_TableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TableTextBlock" xlink:to="us-gaap_TableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Table Text Block [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Table Text Blocks</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:label="us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:to="us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Lease Income [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of leasing revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of minimum future base rental revenue on non-cancelable leases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionTableTextBlock" xlink:label="us-gaap_AssetAcquisitionTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionTableTextBlock" xlink:to="us-gaap_AssetAcquisitionTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetAcquisitionTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of properties acquired</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xlink:label="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xlink:to="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Groups, Including Discontinued Operations [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of assets and liabilities held for sale and discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of properties disposed</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstateLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and development costs and subsurface interests</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ScheduleOfLandAndDevelopmentCostsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule Of Land And Development Costs Table [Text Block]</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationBankMember" xlink:label="cto_MitigationBankMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationBankMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Bank (the "JV Investment")</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentsTextBlock" xlink:label="us-gaap_EquityMethodInvestmentsTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityMethodInvestmentsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summarized financial information of the Company's JV Investment</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MarketableSecuritiesTextBlock" xlink:label="us-gaap_MarketableSecuritiesTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecuritiesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Marketable Securities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketableSecuritiesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of marketable securities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of carrying value and estimated fair value of financial instruments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of fair value of assets measured on recurring basis by Level</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:to="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of assets and liabilities, excluding financial assets and liabilities and goodwill, lacking physical substance with a finite life, by either major class or business segment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Finite-Lived Intangible Assets and Liabilities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of intangible lease assets and liabilities</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FiniteLivedIntangibleAssetsAndLiabilitiesAmortizationExpenseAndAccretionIncomeTableTextBlock" xlink:label="cto_FiniteLivedIntangibleAssetsAndLiabilitiesAmortizationExpenseAndAccretionIncomeTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsAndLiabilitiesAmortizationExpenseAndAccretionIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of the amount of amortization expense for finite-lived intangible assets and accretion to income for finite-lived intangible liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsAndLiabilitiesAmortizationExpenseAndAccretionIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived Intangible Assets and Liabilities, Amortization Expense and Accretion Income [Table Text Block]</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseAndAccretionToIncomeTableTextBlock" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseAndAccretionToIncomeTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseAndAccretionToIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of the amount of amortization expense for finite-lived intangible assets and accretion to income for finite-lived intangible liabilities expected to be recorded in succeeding fiscal years.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseAndAccretionToIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Finite-Lived Intangible Assets and Liabilities, Future Amortization Expense and Accretion to Income [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ScheduleOfFiniteLivedIntangibleAssetsAndLiabilitiesFutureAmortizationExpenseAndAccretionToIncomeTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of estimated future amortization and accretion of intangible lease assets and liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of other assets</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DetailsOfPublicOfferingTableTextBlock" xlink:label="cto_DetailsOfPublicOfferingTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DetailsOfPublicOfferingTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure for details of public offering.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DetailsOfPublicOfferingTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Details of Public Offering [Table Text Block]</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsDeclaredTableTextBlock" xlink:label="us-gaap_DividendsDeclaredTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of computation of earnings per share</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ScheduleOfFaceValuesOfLongTermDebtInstrumentsTableTextBlock" xlink:label="cto_ScheduleOfFaceValuesOfLongTermDebtInstrumentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ScheduleOfFaceValuesOfLongTermDebtInstrumentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Face Values of Long-term Debt Instruments [Table Text Block]</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Long-term Debt Instruments [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of long-term debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Maturities of Long-term Debt [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of payments applicable to reduction of principal amounts</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock" xlink:label="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock" xlink:to="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of information pertaining to carrying amount of long-term debt instruments or arrangements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Carrying Value of Long-term Debt Instruments [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of carrying value of long-term debt</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InterestExpenseDebtTableTextBlock" xlink:label="cto_InterestExpenseDebtTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InterestExpenseDebtTableTextBlock" xlink:to="cto_InterestExpenseDebtTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InterestExpenseDebtTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of total interest costs incurred during the period and either capitalized or charged against earnings.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InterestExpenseDebtTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Expense, Debt [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InterestExpenseDebtTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of interest expense on debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:label="us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:to="us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Interest Rate Derivatives [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of interest rate swap agreements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule Of Accrued Liabilities Table [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of accrued and other liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contract with Customer, Asset and Liability [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of components of deferred revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plan Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="us-gaap_PlanNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameDomain" xlink:to="us-gaap_PlanNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plan Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AmendedAndRestated2010EquityIncentivePlanMember" xlink:label="cto_AmendedAndRestated2010EquityIncentivePlanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AmendedAndRestated2010EquityIncentivePlanMember" xlink:to="cto_AmendedAndRestated2010EquityIncentivePlanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AmendedAndRestated2010EquityIncentivePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the entity's 2010 Equity Incentive Plan, a share-based compensation plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AmendedAndRestated2010EquityIncentivePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Original 2010 Plan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_VestingAxis" xlink:label="us-gaap_VestingAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingAxis" xlink:to="us-gaap_VestingAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VestingAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vesting [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_VestingDomain" xlink:label="us-gaap_VestingDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingDomain" xlink:to="us-gaap_VestingDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VestingDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vesting</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheOneMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:to="us-gaap_ShareBasedCompensationAwardTrancheOneMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">January 28, 2017</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:to="us-gaap_ShareBasedCompensationAwardTrancheTwoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">January 28, 2018</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:to="us-gaap_ShareBasedCompensationAwardTrancheThreeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationAwardTrancheThreeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Three-Year Vesting</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">STOCK-BASED COMPENSATION</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Share-based Compensation, Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of share activity for all equity classified stock compensation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of amounts recognized for stock-based compensation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:to="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of performance share awards activity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:label="us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:to="us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonvested Restricted Stock Shares Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of nonvested restricted stock award activity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of deferred income tax assets (liabilities)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of reconciliation of income tax computed at the federal statutory rate</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessee, Operating Lease, Liability, Maturity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of minimum future rental payments under non-cancelable operating leases having remaining terms in excess of one year</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherCommitmentsTableTextBlock" xlink:label="us-gaap_OtherCommitmentsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Commitments [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherCommitmentsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Commitments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of operations in different segments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:to="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Groups, Including Discontinued Operations [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Held-for-sale, Not Discontinued Operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:to="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions of Income Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DisposalGroupsDiscontinuedOperationsTableTextBlock" xlink:label="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock" xlink:to="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Groups, Discontinued Operations [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DisposalGroupsDiscontinuedOperationsTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summary of discontinued operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Real Estate Properties [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:label="srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:label="srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommercialRealEstateMember" xlink:label="us-gaap_CommercialRealEstateMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstateMember" xlink:to="us-gaap_CommercialRealEstateMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstateOperationsMember" xlink:label="cto_RealEstateOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstateOperationsMember" xlink:to="cto_RealEstateOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RealEstateOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Operations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RealEstateOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Real Estate</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CommercialRealEstateSingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property that is solely used for business purposes by a single tenant.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CommercialRealEstateSingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Single-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CommercialRealEstateMultipleTenantsMember" xlink:label="cto_CommercialRealEstateMultipleTenantsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CommercialRealEstateMultipleTenantsMember" xlink:to="cto_CommercialRealEstateMultipleTenantsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CommercialRealEstateMultipleTenantsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property that is solely used for business purposes by multiple tenants.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CommercialRealEstateMultipleTenantsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi-tenant</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancingReceivablePortfolioSegmentAxis" xlink:label="us-gaap_FinancingReceivablePortfolioSegmentAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablePortfolioSegmentAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivable Portfolio Segment [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:label="us-gaap_FinancingReceivablePortfolioSegmentDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablePortfolioSegmentDomain" xlink:to="us-gaap_FinancingReceivablePortfolioSegmentDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablePortfolioSegmentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivable Portfolio Segment [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:to="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial loan and master lease investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Geographical [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="srt_SegmentGeographicalDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Geographical [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_FL" xlink:label="stpr_FL" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_FL" xlink:to="stpr_FL_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_FL_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Florida</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:to="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Name of Property [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Name of Property [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member" xlink:label="cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member" xlink:to="cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Undeveloped Land in Daytona Beach, Florida, Along Interstate 95 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_UndevelopedLandInDaytonaBeachFloridaAlongInterstate95Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Undeveloped Land in Daytona Beach, Florida, Along Interstate 95</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AlpineIncomePropertyTrustIncMember" xlink:label="cto_AlpineIncomePropertyTrustIncMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AlpineIncomePropertyTrustIncMember" xlink:to="cto_AlpineIncomePropertyTrustIncMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AlpineIncomePropertyTrustIncMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Alpine Income Property Trust, Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AlpineIncomePropertyTrustIncMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alpine Income Property Trust, Inc.</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="us-gaap_RealEstatePropertiesLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesLineItems" xlink:to="us-gaap_RealEstatePropertiesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and subsurface interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="us-gaap_NumberOfRealEstateProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfRealEstateProperties" xlink:to="us-gaap_NumberOfRealEstateProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Real Estate Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NumberOfStatesInWhichEntityOperates" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfStatesInWhichEntityOperates" xlink:to="us-gaap_NumberOfStatesInWhichEntityOperates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of States in which Entity Operates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of states in which entity operates</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="us-gaap_AreaOfRealEstateProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross leasable space</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Square-Feet</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of real estate property</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AreaOfLand" xlink:label="us-gaap_AreaOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of land (in acres)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesAreaOfLand" xlink:label="cto_LandSalesAreaOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesAreaOfLand" xlink:to="cto_LandSalesAreaOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesAreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of land sold in the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesAreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Area of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LandSalesAreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">No. of Acres</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_LandSalesAreaOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acres sold</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_OwnershipInterestInJointVentureByParentPercentage" xlink:label="cto_OwnershipInterestInJointVentureByParentPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_OwnershipInterestInJointVentureByParentPercentage" xlink:to="cto_OwnershipInterestInJointVentureByParentPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_OwnershipInterestInJointVentureByParentPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ownership Interest in Joint Venture By Parent, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_OwnershipInterestInJointVentureByParentPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ownership Interest in Joint Venture By Parent, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_OwnershipInterestInJointVentureByParentPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest in the joint venture (as a percent)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesFinalSalePrice" xlink:label="cto_LandSalesFinalSalePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesFinalSalePrice" xlink:to="cto_LandSalesFinalSalePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesFinalSalePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Final Sale Price.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesFinalSalePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Final Sale Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LandSalesFinalSalePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Final sales price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xlink:to="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Land Held-for-investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from sale of land</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfCommercialLoanInvestment" xlink:label="cto_NumberOfCommercialLoanInvestment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfCommercialLoanInvestment" xlink:to="cto_NumberOfCommercialLoanInvestment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfCommercialLoanInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of commercial loan investment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfCommercialLoanInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Commercial Loan Investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfCommercialLoanInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of commercial loan investment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfCommercialProperties" xlink:label="cto_NumberOfCommercialProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfCommercialProperties" xlink:to="cto_NumberOfCommercialProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfCommercialProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of commercial properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfCommercialProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of commercial Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfCommercialProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of commercial properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SubsurfaceAreaOfPortfolioOfMineralInterest" xlink:label="cto_SubsurfaceAreaOfPortfolioOfMineralInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SubsurfaceAreaOfPortfolioOfMineralInterest" xlink:to="cto_SubsurfaceAreaOfPortfolioOfMineralInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SubsurfaceAreaOfPortfolioOfMineralInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of Subsurface Area of Portfolio Of Mineral Interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SubsurfaceAreaOfPortfolioOfMineralInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Area Of Portfolio Of Mineral Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SubsurfaceAreaOfPortfolioOfMineralInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface area of portfolio of mineral interests</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:label="us-gaap_NumberOfCountriesInWhichEntityOperates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:to="us-gaap_NumberOfCountriesInWhichEntityOperates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfCountriesInWhichEntityOperates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Countries in which Entity Operates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfCountriesInWhichEntityOperates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of countries</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Reportable Segments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of business segments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="us-gaap_TypeOfAdoptionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountingStandardsUpdate201613Member" xlink:label="us-gaap_AccountingStandardsUpdate201613Member" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current expected credit losses reserve</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateEarlyAdoption" xlink:label="us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateEarlyAdoption" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateEarlyAdoption_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Change in Accounting Principle, Accounting Standards Update, Early Adoption</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted" xlink:label="us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate" xlink:label="us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Change in Accounting Principle, Accounting Standards Update, Adoption Date</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReclassificationTable" xlink:label="us-gaap_ReclassificationTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReclassificationTable" xlink:to="us-gaap_ReclassificationTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RestatementAxis" xlink:label="srt_RestatementAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DeferredFinanceCostsGrossRevolvingLineOfCredit" xlink:label="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit" xlink:to="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of deferred finance costs gross revolving line of credit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs Gross Revolving Line Of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DeferredFinanceCostsGrossRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred financing costs</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit" xlink:label="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit" xlink:to="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Amortization, Deferred Finance Costs, Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Amortization, Deferred Finance Costs, Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_AccumulatedAmortizationDeferredFinanceCostsRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Amortization, Deferred Finance Costs, Revolving Line of Credit</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable" xlink:label="cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable" xlink:to="cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Description of business and significant accounting policies.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DescriptionOfBusinessAndSignificantAccountingPoliciesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Description Of Business And Significant Accounting Policies [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash and Cash Equivalents [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RestrictedCashEscrowAccountMember" xlink:label="cto_RestrictedCashEscrowAccountMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RestrictedCashEscrowAccountMember" xlink:to="cto_RestrictedCashEscrowAccountMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RestrictedCashEscrowAccountMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash Escrow Account [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RestrictedCashEscrowAccountMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash escrow account</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember" xlink:to="cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">n/a.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithSaleOfGroundLeaseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash, escrow account in connection with sale of ground lease</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember" xlink:to="cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash, Escrow Account in Connection With Mitigation Bank.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RestrictedCashEscrowAccountInConnectionWithMitigationBankMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash, escrow account in connection with Mitigation Bank</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DescriptionOfBusinessLineItems" xlink:label="cto_DescriptionOfBusinessLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DescriptionOfBusinessLineItems" xlink:to="cto_DescriptionOfBusinessLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DescriptionOfBusinessLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. References</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DescriptionOfBusinessLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Description Of Business [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DescriptionOfBusinessLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Description of business</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashAbstract" xlink:label="us-gaap_RestrictedCashAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAbstract" xlink:to="us-gaap_RestrictedCashAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCashAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Accounts, Notes, Loans and Financing Receivable [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts, Notes, Loans and Financing Receivable [Line Items]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountsReceivableAdditionalDisclosuresAbstract" xlink:label="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract" xlink:to="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Receivable Additional Disclosures [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Receivable</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyTenantReceivables" xlink:label="cto_IncomePropertyTenantReceivables" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyTenantReceivables" xlink:to="cto_IncomePropertyTenantReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyTenantReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyTenantReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertyTenantReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyTenantReceivablesIncreaseDecrease" xlink:label="cto_IncomePropertyTenantReceivablesIncreaseDecrease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyTenantReceivablesIncreaseDecrease" xlink:to="cto_IncomePropertyTenantReceivablesIncreaseDecrease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyTenantReceivablesIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables, Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyTenantReceivablesIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables, Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertyTenantReceivablesIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Tenant Receivables, Increase (Decrease)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations" xlink:label="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations" xlink:to="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate of infrastructure reimbursement receivables and other receivables related to real estate operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables and Other Receivables Related to Real Estate Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InfrastructureReimbursementReceivablesAndOtherReceivablesRelatedToRealEstateOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable related to real estate operations</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfClosedLandTransactions" xlink:label="cto_NumberOfClosedLandTransactions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfClosedLandTransactions" xlink:to="cto_NumberOfClosedLandTransactions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfClosedLandTransactions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of land transactions that have closed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfClosedLandTransactions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Closed Land Transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfClosedLandTransactions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of closed land transactions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfOperationsRoundsSurchargeReceivables" xlink:label="cto_GolfOperationsRoundsSurchargeReceivables" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfOperationsRoundsSurchargeReceivables" xlink:to="cto_GolfOperationsRoundsSurchargeReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfOperationsRoundsSurchargeReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of golf operations surcharge receivables.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfOperationsRoundsSurchargeReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Operations Rounds Surcharge Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GolfOperationsRoundsSurchargeReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable from Golf operations for rounds surcharge</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for doubtful accounts</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Building and Building Improvements [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FurnitureAndFixturesAndEquipmentMember" xlink:label="cto_FurnitureAndFixturesAndEquipmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FurnitureAndFixturesAndEquipmentMember" xlink:to="cto_FurnitureAndFixturesAndEquipmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FurnitureAndFixturesAndEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Furniture and Fixtures, and Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FurnitureAndFixturesAndEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Furnishings and Equipment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfOperationsSegmentMember" xlink:label="cto_GolfOperationsSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfOperationsSegmentMember" xlink:to="cto_GolfOperationsSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfOperationsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the golf operations business segment of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfOperationsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RangeMember" xlink:label="srt_RangeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MinimumMember" xlink:label="srt_MinimumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROPERTY, PLANT, AND EQUIPMENT</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Depreciation" xlink:label="us-gaap_Depreciation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Costs Capitalized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest capitalized</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Plant And Equipment Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Useful lives for property, plant, and equipment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfGolfCourses" xlink:label="cto_NumberOfGolfCourses" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfGolfCourses" xlink:to="cto_NumberOfGolfCourses_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfGolfCourses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of golf courses owned.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfGolfCourses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Golf Courses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_NumberOfGolfCourses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of golf courses</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfCourseNumberOfHoles" xlink:label="cto_GolfCourseNumberOfHoles" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfCourseNumberOfHoles" xlink:to="cto_GolfCourseNumberOfHoles_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfCourseNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of holes to the golf course owned.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfCourseNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Course, Number of Holes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GolfCourseNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of holes to the golf course</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfCoursePracticeFacilityNumberOfHoles" xlink:label="cto_GolfCoursePracticeFacilityNumberOfHoles" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfCoursePracticeFacilityNumberOfHoles" xlink:to="cto_GolfCoursePracticeFacilityNumberOfHoles_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfCoursePracticeFacilityNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of holes to the practice facility of the golf course owned.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfCoursePracticeFacilityNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Course, Practice Facility, Number of Holes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GolfCoursePracticeFacilityNumberOfHoles_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of holes to the golf course practice facility</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfCourseAndClubhouseFacilityMembershipPeriod" xlink:label="cto_GolfCourseAndClubhouseFacilityMembershipPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfCourseAndClubhouseFacilityMembershipPeriod" xlink:to="cto_GolfCourseAndClubhouseFacilityMembershipPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfCourseAndClubhouseFacilityMembershipPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf course and clubhouse facility membership period, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfCourseAndClubhouseFacilityMembershipPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Course And Clubhouse Facility Membership Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GolfCourseAndClubhouseFacilityMembershipPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf course and clubhouse facility membership period</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SecondAmendedAndRestated2010EquityIncentivePlanMember" xlink:label="cto_SecondAmendedAndRestated2010EquityIncentivePlanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SecondAmendedAndRestated2010EquityIncentivePlanMember" xlink:to="cto_SecondAmendedAndRestated2010EquityIncentivePlanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SecondAmendedAndRestated2010EquityIncentivePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the entity's second amended and restated 2010 Equity Incentive Plan, a share-based compensation plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SecondAmendedAndRestated2010EquityIncentivePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Second Amended and Restated 2010 Equity Incentive Plan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares authorized for issuance</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of additional shares authorized</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum award per participant</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AreaOfRealEstateSegmentMember" xlink:label="cto_AreaOfRealEstateSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Base Rent Revenues</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Concentration Risk Type [Axis]</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GeographicConcentrationRiskMember" xlink:label="us-gaap_GeographicConcentrationRiskMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeographicConcentrationRiskMember" xlink:to="us-gaap_GeographicConcentrationRiskMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CustomerConcentrationRiskMember" xlink:label="us-gaap_CustomerConcentrationRiskMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_GA" xlink:label="stpr_GA" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_GA" xlink:to="stpr_GA_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_GA_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Georgia</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CONCENTRATION OF CREDIT RISK</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Concentration Risk, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Concentration risk percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of total</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfTenants" xlink:label="cto_NumberOfTenants" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfTenants" xlink:to="cto_NumberOfTenants_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of tenants.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Tenants</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_NumberOfTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of tenants</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="us-gaap_DisaggregationOfRevenueTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueTable" xlink:to="us-gaap_DisaggregationOfRevenueTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disaggregation of Revenue [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="srt_ProductOrServiceAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductOrServiceAxis" xlink:to="srt_ProductOrServiceAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductOrServiceAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Product and Service [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="srt_ProductsAndServicesDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductsAndServicesDomain" xlink:to="srt_ProductsAndServicesDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Products and Services [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueMember" xlink:label="cto_LeaseRevenueMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueMember" xlink:to="cto_LeaseRevenueMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueBaseRentMember" xlink:label="cto_LeaseRevenueBaseRentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueBaseRentMember" xlink:to="cto_LeaseRevenueBaseRentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueBaseRentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease revenue, base rent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueBaseRentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue - Base Rent</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueVariableLeasePaymentsMember" xlink:label="cto_LeaseRevenueVariableLeasePaymentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueVariableLeasePaymentsMember" xlink:to="cto_LeaseRevenueVariableLeasePaymentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueVariableLeasePaymentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue, Variable Lease Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueVariableLeasePaymentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue - Variable Lease Payments</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueCommonAreaMaintenanceMember" xlink:label="cto_LeaseRevenueCommonAreaMaintenanceMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueCommonAreaMaintenanceMember" xlink:to="cto_LeaseRevenueCommonAreaMaintenanceMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueCommonAreaMaintenanceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease revenue, common area maintenance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueCommonAreaMaintenanceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue - CAM</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueReimbursementsMember" xlink:label="cto_LeaseRevenueReimbursementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueReimbursementsMember" xlink:to="cto_LeaseRevenueReimbursementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueReimbursementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease revenue, reimbursements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueReimbursementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue - Reimbursements</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseRevenueBillboardsMember" xlink:label="cto_LeaseRevenueBillboardsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseRevenueBillboardsMember" xlink:to="cto_LeaseRevenueBillboardsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseRevenueBillboardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease revenue, billboards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseRevenueBillboardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Revenue - Billboards</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SubsurfaceRevenueLeaseMember" xlink:label="cto_SubsurfaceRevenueLeaseMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SubsurfaceRevenueLeaseMember" xlink:to="cto_SubsurfaceRevenueLeaseMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SubsurfaceRevenueLeaseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Lease [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SubsurfaceRevenueLeaseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SubsurfaceRevenueLeaseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Lease</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AccretionOfAboveAndBelowMarketLeasesMember" xlink:label="cto_AccretionOfAboveAndBelowMarketLeasesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AccretionOfAboveAndBelowMarketLeasesMember" xlink:to="cto_AccretionOfAboveAndBelowMarketLeasesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AccretionOfAboveAndBelowMarketLeasesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accretion of above and below market leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AccretionOfAboveAndBelowMarketLeasesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Above / Below Market Lease Accretion</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AccretionOfContributedLeasedAssetsMember" xlink:label="cto_AccretionOfContributedLeasedAssetsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AccretionOfContributedLeasedAssetsMember" xlink:to="cto_AccretionOfContributedLeasedAssetsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AccretionOfContributedLeasedAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accretion of contributed leased assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AccretionOfContributedLeasedAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contributed Leased Assets Accretion</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ManagementFeeIncomeMember" xlink:label="cto_ManagementFeeIncomeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ManagementFeeIncomeMember" xlink:to="cto_ManagementFeeIncomeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ManagementFeeIncomeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Management fee income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ManagementFeeIncomeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Services</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ImpactFeeAndMitigationCreditSalesMember" xlink:label="cto_ImpactFeeAndMitigationCreditSalesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ImpactFeeAndMitigationCreditSalesMember" xlink:to="cto_ImpactFeeAndMitigationCreditSalesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ImpactFeeAndMitigationCreditSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impact fee and mitigation credit sales</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ImpactFeeAndMitigationCreditSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credit Sales</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SubsurfaceRevenueOtherMember" xlink:label="cto_SubsurfaceRevenueOtherMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SubsurfaceRevenueOtherMember" xlink:to="cto_SubsurfaceRevenueOtherMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SubsurfaceRevenueOtherMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SubsurfaceRevenueOtherMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue - Other</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LandMember" xlink:label="us-gaap_LandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandMember" xlink:to="us-gaap_LandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales Revenue</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FillDirtAndOtherRevenueMember" xlink:label="cto_FillDirtAndOtherRevenueMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FillDirtAndOtherRevenueMember" xlink:to="cto_FillDirtAndOtherRevenueMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FillDirtAndOtherRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fill Dirt and Other Revenue [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FillDirtAndOtherRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fill Dirt and Other Revenue</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InterestAndOtherRevenueMember" xlink:label="cto_InterestAndOtherRevenueMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InterestAndOtherRevenueMember" xlink:to="cto_InterestAndOtherRevenueMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InterestAndOtherRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InterestAndOtherRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InterestAndOtherRevenueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="us-gaap_DisaggregationOfRevenueLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueLineItems" xlink:to="us-gaap_DisaggregationOfRevenueLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisaggregationOfRevenueLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disaggregation of Revenue [Line Items]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLeaseIncome" xlink:label="us-gaap_OperatingLeaseLeaseIncome" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLeaseIncome" xlink:to="us-gaap_OperatingLeaseLeaseIncome_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLeaseIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Lease Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLeaseIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeaseLeaseIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Leasing Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue from Contract with Customer, Including Assessed Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue from contract with customer, including assessed tax</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfLeaseIncentives" xlink:label="us-gaap_AmortizationOfLeaseIncentives" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfLeaseIncentives" xlink:to="us-gaap_AmortizationOfLeaseIncentives_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfLeaseIncentives_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Lease Incentives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AmortizationOfLeaseIncentives_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Incentive Amortization</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansCommercial" xlink:label="us-gaap_InterestAndFeeIncomeLoansCommercial" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndFeeIncomeLoansCommercial" xlink:to="us-gaap_InterestAndFeeIncomeLoansCommercial_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestAndFeeIncomeLoansCommercial_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Fee Income, Loans, Commercial</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestAndFeeIncomeLoansCommercial_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Loan Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestAndFeeIncomeLoansCommercial_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Loan Investment Related Revenue</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InterestAndOtherRevenue" xlink:label="cto_InterestAndOtherRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InterestAndOtherRevenue" xlink:to="cto_InterestAndOtherRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InterestAndOtherRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InterestAndOtherRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InterestAndOtherRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and Other Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TimingOfTransferOfGoodOrServiceAxis" xlink:label="us-gaap_TimingOfTransferOfGoodOrServiceAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TimingOfTransferOfGoodOrServiceAxis" xlink:to="us-gaap_TimingOfTransferOfGoodOrServiceAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TimingOfTransferOfGoodOrServiceAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Timing of Transfer of Good or Service [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TimingOfTransferOfGoodOrServiceDomain" xlink:label="us-gaap_TimingOfTransferOfGoodOrServiceDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TimingOfTransferOfGoodOrServiceDomain" xlink:to="us-gaap_TimingOfTransferOfGoodOrServiceDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TimingOfTransferOfGoodOrServiceDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Timing of Transfer of Good or Service [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TransferredAtPointInTimeMember" xlink:label="us-gaap_TransferredAtPointInTimeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferredAtPointInTimeMember" xlink:to="us-gaap_TransferredAtPointInTimeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransferredAtPointInTimeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset/Good Transferred at a Point in Time</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TransferredOverTimeMember" xlink:label="us-gaap_TransferredOverTimeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferredOverTimeMember" xlink:to="us-gaap_TransferredOverTimeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransferredOverTimeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Services Transferred Over Time</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_OperatingLeaseLeaseIncomeOverLeaseTerm" xlink:label="cto_OperatingLeaseLeaseIncomeOverLeaseTerm" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_OperatingLeaseLeaseIncomeOverLeaseTerm" xlink:to="cto_OperatingLeaseLeaseIncomeOverLeaseTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_OperatingLeaseLeaseIncomeOverLeaseTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of operating lease income over lease from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_OperatingLeaseLeaseIncomeOverLeaseTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease Lease Income Over Lease Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_OperatingLeaseLeaseIncomeOverLeaseTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Over Lease Term</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeasesLeaseIncomeAbstract" xlink:label="us-gaap_OperatingLeasesLeaseIncomeAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesLeaseIncomeAbstract" xlink:to="us-gaap_OperatingLeasesLeaseIncomeAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesLeaseIncomeAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Lease Income [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesLeaseIncomeAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leasing Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:label="us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLeaseIncomeLeasePayments" xlink:to="us-gaap_OperatingLeaseLeaseIncomeLeasePayments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLeaseIncomeLeasePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Lease Income, Lease Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLeaseIncomeLeasePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Payments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseVariableLeaseIncome" xlink:label="us-gaap_OperatingLeaseVariableLeaseIncome" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseVariableLeaseIncome" xlink:to="us-gaap_OperatingLeaseVariableLeaseIncome_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseVariableLeaseIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Variable Lease Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseVariableLeaseIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Lease Payments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:label="us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:to="us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum future base rental revenue on non-cancelable leases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Next Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2022</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2023</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2024</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2025</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received, Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2026</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:label="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:to="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of lease payment to be received by lessor for operating lease after fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payment to be Received, after Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2027 and thereafter (cumulative)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceived" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceived_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Payments to be Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionTable" xlink:label="us-gaap_AssetAcquisitionTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionTable" xlink:to="us-gaap_AssetAcquisitionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionAxis" xlink:label="us-gaap_AssetAcquisitionAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionAxis" xlink:to="us-gaap_AssetAcquisitionAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionDomain" xlink:label="us-gaap_AssetAcquisitionDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionDomain" xlink:to="us-gaap_AssetAcquisitionDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsOfIncomePropertySubjectToLease2021Member" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2021Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsOfIncomePropertySubjectToLease2021Member" xlink:to="cto_AcquisitionsOfIncomePropertySubjectToLease2021Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions of Income Property Subject to Lease, 2021 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021 Acquisitions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsOfIncomePropertySubjectToLease2020Member" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsOfIncomePropertySubjectToLease2020Member" xlink:to="cto_AcquisitionsOfIncomePropertySubjectToLease2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions of Income Property Subject to Lease, 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Acquisitions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsIncomeProperties2020MultiTenantMember" xlink:label="cto_AcquisitionsIncomeProperties2020MultiTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsIncomeProperties2020MultiTenantMember" xlink:to="cto_AcquisitionsIncomeProperties2020MultiTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsIncomeProperties2020MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions, Income Properties, 2020, Multi-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsIncomeProperties2020MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Acquisitions, Multi-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsIncomeProperties2020SingleTenantMember" xlink:label="cto_AcquisitionsIncomeProperties2020SingleTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsIncomeProperties2020SingleTenantMember" xlink:to="cto_AcquisitionsIncomeProperties2020SingleTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsIncomeProperties2020SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions, Income Properties, 2020, Single-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsIncomeProperties2020SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Acquisitions, Single-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsOfIncomePropertySubjectToLease2019Member" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member" xlink:to="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to the acquisition of income property subject to a lease during the fiscal year 2019.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsIncomeProperties2019MultiTenantMember" xlink:label="cto_AcquisitionsIncomeProperties2019MultiTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsIncomeProperties2019MultiTenantMember" xlink:to="cto_AcquisitionsIncomeProperties2019MultiTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsIncomeProperties2019MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions, Income Properties, 2019, Multi-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsIncomeProperties2019MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions, Multi-tenant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AcquisitionsIncomeProperties2019MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions, Multi-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsIncomeProperties2019SingleTenantMember" xlink:label="cto_AcquisitionsIncomeProperties2019SingleTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsIncomeProperties2019SingleTenantMember" xlink:to="cto_AcquisitionsIncomeProperties2019SingleTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions, Income Properties, 2019, Single-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions, Single-tenant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AcquisitionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Acquisitions, Single-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember" xlink:label="cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember" xlink:to="cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Jordan Landing, West Jordan, Utah [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantJordanLandingWestJordanUtahMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Jordan Landing, West Jordan, Utah</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember" xlink:label="cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember" xlink:to="cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Eastern Commons, Henderson, Nevada [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantEasternCommonsHendersonNevadaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Eastern Commons, Henderson, Nevada</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember" xlink:label="cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember" xlink:to="cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Shops at Legacy, Plano, Texas [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantShopsAtLegacyPlanoTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Shops at Legacy, Plano, Texas</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember" xlink:label="cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember" xlink:to="cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Crossroads Towne Center, Chandler, Arizona [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantCrossroadsTowneCenterChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Crossroads Towne Center, Chandler, Arizona</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember" xlink:label="cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember" xlink:to="cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Ford Motor Credit, Tampa, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantFordMotorCreditTampaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Ford Motor Credit, Tampa, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember" xlink:label="cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember" xlink:to="cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Master Tenant, Hialeah, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantMasterTenantHialeahFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Master Tenant, Hialeah, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember" xlink:label="cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember" xlink:to="cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Multi Tenant 125 Lincoln &amp; 150 Washington Santa Fe New Mexico [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenant125Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi Tenant ,125 Lincoln &amp; 150 Washington ,Santa Fe, New Mexico</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember" xlink:label="cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember" xlink:to="cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Multi Tenant Synovus Winter Park Florida [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantSynovusWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi Tenant, Synovus ,Winter Park ,Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember" xlink:label="cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember" xlink:to="cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Multi Tenant Exchange at Gwinnett Buford Georgia [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantExchangeAtGwinnettBufordGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi Tenant ,Exchange at Gwinnett ,Buford ,Georgia</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember" xlink:label="cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember" xlink:to="cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Two Tenant Ashford Lane Outparcel Atlanta Georgia [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyTwoTenantAshfordLaneOutparcelAtlantaGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Two Tenant, Ashford Lane Outparcel, Atlanta, Georgia</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Measurement Frequency [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Measurement Frequency [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonrecurring basis</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionLineItems" xlink:label="us-gaap_AssetAcquisitionLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionLineItems" xlink:to="us-gaap_AssetAcquisitionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetAcquisitionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions of Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts" xlink:label="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts" xlink:to="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate of cash outflow from the acquisition of property as primarily intended to generate income for its owner and acquisition-related costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Commercial Real Estate, Including Acquisition Related Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_PaymentsToAcquireCommercialRealEstateIncludingAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate acquisition cost including capitalized acquisition costs</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandFairValueDisclosure" xlink:label="cto_LandFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandFairValueDisclosure" xlink:to="cto_LandFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value portion of land.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LandFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BuildingsAndImprovementsFairValueDisclosure" xlink:label="cto_BuildingsAndImprovementsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BuildingsAndImprovementsFairValueDisclosure" xlink:to="cto_BuildingsAndImprovementsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BuildingsAndImprovementsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value portion of buildings and improvements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BuildingsAndImprovementsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings and Improvements, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_BuildingsAndImprovementsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings and improvements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure" xlink:to="us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived Intangible Assets, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets pertaining to the in-place lease value, leasing fees and above market lease value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure" xlink:label="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure" xlink:to="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value portion of below market lease intangible liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below Market Lease Intangible Liabilities Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_BelowMarketLeaseIntangibleLiabilitiesFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible liabilities for below market lease value</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquired Finite-lived Intangible Assets, Weighted Average Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average amortization period of intangible assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDateAcquired1" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateAcquired1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDateAcquired1" xlink:to="srt_RealEstateAndAccumulatedDepreciationDateAcquired1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Date Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date of Acquisition</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireCommercialRealEstate" xlink:label="us-gaap_PaymentsToAcquireCommercialRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireCommercialRealEstate" xlink:to="us-gaap_PaymentsToAcquireCommercialRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireCommercialRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Commercial Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsToAcquireCommercialRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Purchase price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireCommercialRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Purchase Price</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_OccupancyPercentage" xlink:label="cto_OccupancyPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_OccupancyPercentage" xlink:to="cto_OccupancyPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_OccupancyPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the occupancy percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_OccupancyPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Occupancy Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_OccupancyPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage Leased at Acquisition</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate" xlink:label="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate" xlink:to="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining term at the acquisition date of the lessor's leasing arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor Leasing Arrangements, Operating Leases, Remaining Term of Contract at Acquisition Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_LessorLeasingArrangementsOperatingLeasesRemainingTermOfContractAtAcquisitionDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining Lease Term at Acquisition Date (in years)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NotesReceivableNet" xlink:label="us-gaap_NotesReceivableNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivable, after Allowance for Credit Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotesReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate outstanding principal balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NotesReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate outstanding principal balance</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfTenantRepurchaseOptions" xlink:label="cto_NumberOfTenantRepurchaseOptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfTenantRepurchaseOptions" xlink:to="cto_NumberOfTenantRepurchaseOptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfTenantRepurchaseOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of tenant repurchase options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfTenantRepurchaseOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Tenant Repurchase Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfTenantRepurchaseOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Tenant Repurchase Options</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:to="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:to="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2021Member" xlink:label="cto_DispositionsIncomeProperties2021Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2021Member" xlink:to="cto_DispositionsIncomeProperties2021Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2021 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021 Dispositions, Income Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsIncomeProperties2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021 Dispositions, Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2021MultiTenantMember" xlink:label="cto_DispositionsIncomeProperties2021MultiTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2021MultiTenantMember" xlink:to="cto_DispositionsIncomeProperties2021MultiTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2021MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2021, Multi-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2021MultiTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021 Dispositions, Multi-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2021SingleTenantMember" xlink:label="cto_DispositionsIncomeProperties2021SingleTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2021SingleTenantMember" xlink:to="cto_DispositionsIncomeProperties2021SingleTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2021SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2021, Single-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2021SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021 Dispositions, Single-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomePropertiesAndLandParcels2020Member" xlink:label="cto_DispositionsIncomePropertiesAndLandParcels2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomePropertiesAndLandParcels2020Member" xlink:to="cto_DispositionsIncomePropertiesAndLandParcels2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomePropertiesAndLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties and Land Parcels, 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomePropertiesAndLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Income Properties and Land Parcels</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsIncomePropertiesAndLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Income Properties and Land Parcels</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2020Member" xlink:label="cto_DispositionsIncomeProperties2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2020Member" xlink:to="cto_DispositionsIncomeProperties2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Income Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsIncomeProperties2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2019Member" xlink:label="cto_DispositionsIncomeProperties2019Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2019Member" xlink:to="cto_DispositionsIncomeProperties2019Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2019 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Dispositions, Income Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsIncomeProperties2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Dispositions, Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember" xlink:label="cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember" xlink:to="cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, World of Beer, Fuzzy's Taco Shop, Brandon, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyWorldOfBeerFuzzysTacoShopBrandonFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, World of Beer, Fuzzys Taco Shop, Brandon, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember" xlink:label="cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember" xlink:to="cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Moe's Southwest Grill, Jacksonville, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantMoesSouthwestGrillJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Moe's Southwest Grill, Jacksonville, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember" xlink:label="cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember" xlink:to="cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Burlington Coat Stores, Inc, North Richland Hills, Texas [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyBurlingtonCoatStoresIncNorthRichlandHillsTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Burlington Coat Stores, Inc, North Richland Hills, Texas</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyStaplesSarasotaFloridaMember" xlink:label="cto_IncomePropertyStaplesSarasotaFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyStaplesSarasotaFloridaMember" xlink:to="cto_IncomePropertyStaplesSarasotaFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyStaplesSarasotaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Staples, Sarasota, Florida  [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyStaplesSarasotaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Staples, Sarasota, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyStrandJacksonvilleFloridaMember" xlink:label="cto_IncomePropertyStrandJacksonvilleFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyStrandJacksonvilleFloridaMember" xlink:to="cto_IncomePropertyStrandJacksonvilleFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyStrandJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, The Strand, Jacksonville, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyStrandJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, The Strand - Fogo De Chao, Jacksonville, Florida</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertyStrandJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, The Strand - Fogo De Chao, Jacksonville, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CvsDallasTxMember" xlink:label="cto_CvsDallasTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CvsDallasTxMember" xlink:to="cto_CvsDallasTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CvsDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CVS, Dallas, TX [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CvsDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CVS, Dallas, TX</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_WawaDaytonaBeachFlMember" xlink:label="cto_WawaDaytonaBeachFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_WawaDaytonaBeachFlMember" xlink:to="cto_WawaDaytonaBeachFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_WawaDaytonaBeachFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wawa, Daytona Beach, FL [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_WawaDaytonaBeachFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wawa, Daytona Beach, FL</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_JpmorganChaseBankJacksonvilleFlMember" xlink:label="cto_JpmorganChaseBankJacksonvilleFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_JpmorganChaseBankJacksonvilleFlMember" xlink:to="cto_JpmorganChaseBankJacksonvilleFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_JpmorganChaseBankJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">JPMorgan Chase Bank, Jacksonville, FL [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_JpmorganChaseBankJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">JPMorgan Chase Bank, Jacksonville, FL</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SevenElevenDallasTxMember" xlink:label="cto_SevenElevenDallasTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SevenElevenDallasTxMember" xlink:to="cto_SevenElevenDallasTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SevenElevenDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">7-Eleven, Dallas, TX [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SevenElevenDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">7-Eleven, Dallas, TX</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BankOfAmericaMontereyCaMember" xlink:label="cto_BankOfAmericaMontereyCaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BankOfAmericaMontereyCaMember" xlink:to="cto_BankOfAmericaMontereyCaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BankOfAmericaMontereyCaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bank of America, Monterey, CA [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BankOfAmericaMontereyCaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bank of America, Monterey, CA</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_WawaJacksonvilleFlMember" xlink:label="cto_WawaJacksonvilleFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_WawaJacksonvilleFlMember" xlink:to="cto_WawaJacksonvilleFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_WawaJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wawa, Jacksonville, FL</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_WawaJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wawa, Jacksonville, FL</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CarrabbasAustinTxMember" xlink:label="cto_CarrabbasAustinTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CarrabbasAustinTxMember" xlink:to="cto_CarrabbasAustinTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CarrabbasAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrabbas, Austin, TX</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CarrabbasAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrabbas, Austin, TX</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PdqJacksonvilleFlMember" xlink:label="cto_PdqJacksonvilleFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PdqJacksonvilleFlMember" xlink:to="cto_PdqJacksonvilleFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PdqJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PDQ, Jacksonville, FL.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PdqJacksonvilleFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PDQ, Jacksonville, FL</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MacaroniGrillMember" xlink:label="cto_MacaroniGrillMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MacaroniGrillMember" xlink:to="cto_MacaroniGrillMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MacaroniGrillMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Macaroni Grill [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MacaroniGrillMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Macaroni Grill</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AspenDevelopmentAspenCoMember" xlink:label="cto_AspenDevelopmentAspenCoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AspenDevelopmentAspenCoMember" xlink:to="cto_AspenDevelopmentAspenCoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AspenDevelopmentAspenCoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aspen Development, Aspen, CO [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AspenDevelopmentAspenCoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aspen Development, Aspen, CO</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_OutbackAustinTxMember" xlink:label="cto_OutbackAustinTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_OutbackAustinTxMember" xlink:to="cto_OutbackAustinTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_OutbackAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outback, Austin, TX [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_OutbackAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outback, Austin, TX</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertiesSingleTenantCmbsPortfolioMember" xlink:label="cto_IncomePropertiesSingleTenantCmbsPortfolioMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertiesSingleTenantCmbsPortfolioMember" xlink:to="cto_IncomePropertiesSingleTenantCmbsPortfolioMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertiesSingleTenantCmbsPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties, Single-tenant, CMBS Portfolio [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertiesSingleTenantCmbsPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties, Single-tenant, CMBS Portfolio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertiesSingleTenantCmbsPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties, Single-tenant, CMBS Portfolio</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember" xlink:label="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember" xlink:to="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Chick-fil-A, Chandler, Arizona [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Chick-fil-A, Chandler, Arizona</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertySingleTenantChickFilaChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Chick-fil-A, Chandler, Arizona</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember" xlink:label="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember" xlink:to="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, JPMorgan Chase Bank, Chandler, Arizona [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, JPMorgan Chase Bank, Chandler, Arizona</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncomePropertySingleTenantJpmorganChaseBankChandlerArizonaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, JPMorgan Chase Bank, Chandler, Arizona</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwentyFourHourFitnessFallsChurchVaMember" xlink:label="cto_TwentyFourHourFitnessFallsChurchVaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwentyFourHourFitnessFallsChurchVaMember" xlink:to="cto_TwentyFourHourFitnessFallsChurchVaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwentyFourHourFitnessFallsChurchVaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Twenty Four Hour Fitness, Falls Church, VA [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwentyFourHourFitnessFallsChurchVaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Twenty Four Hour Fitness, Falls Church, VA</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Consideration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Purchase price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:to="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements, Recurring and Nonrecurring [Table]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember" xlink:label="cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember" xlink:to="cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, The Grove, Wawa Outparcel, Winter Park, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantGroveWawaOutparcelWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, The Grove, Wawa Outparcel, Winter Park, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember" xlink:label="cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember" xlink:to="cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, 3600 Peterson, Santa Clara, California [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenant3600PetersonSantaClaraCaliforniaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, 3600 Peterson, Santa Clara, California</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember" xlink:label="cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember" xlink:to="cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, The Grove, Winter Park, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantGroveWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, The Grove, Winter Park, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember" xlink:label="cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember" xlink:to="cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Whole Foods Market Centre, Sarasota, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyMultiTenantWholeFoodsMarketCentreSarasotaFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Multi-tenant, Whole Foods Market Centre, Sarasota, Florida</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:label="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:to="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate, Description, Loan Category [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:label="srt_MortgageLoansOnRealEstateLoanCategoryDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:to="srt_MortgageLoansOnRealEstateLoanCategoryDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateLoanCategoryDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate, Loan Category [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GroundLeaseLoanMember" xlink:label="cto_GroundLeaseLoanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GroundLeaseLoanMember" xlink:to="cto_GroundLeaseLoanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GroundLeaseLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ground Lease Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GroundLeaseLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ground Lease</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GroundLeaseLoan400JosephineStreetAustinTxMember" xlink:label="cto_GroundLeaseLoan400JosephineStreetAustinTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GroundLeaseLoan400JosephineStreetAustinTxMember" xlink:to="cto_GroundLeaseLoan400JosephineStreetAustinTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GroundLeaseLoan400JosephineStreetAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ground Lease Loan, 400 Josephine Street, Austin, TX [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GroundLeaseLoan400JosephineStreetAustinTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ground Lease Loan - 400 Josephine Street, Austin, TX</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="srt_CounterpartyNameAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CounterpartyNameAxis" xlink:to="srt_CounterpartyNameAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CounterpartyNameAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Counterparty Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RepurchaseAgreementCounterpartyNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Counterparty Name</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_Cocina214Member" xlink:label="cto_Cocina214Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_Cocina214Member" xlink:to="cto_Cocina214Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_Cocina214Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Cocina 214.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_Cocina214Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cocina 214</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BrokenHookLlcMember" xlink:label="cto_BrokenHookLlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BrokenHookLlcMember" xlink:to="cto_BrokenHookLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BrokenHookLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Broken Hook LLC.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BrokenHookLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Broken Hook LLC</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalUnitsMember" xlink:label="us-gaap_CapitalUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalUnitsMember" xlink:to="us-gaap_CapitalUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">OP Units</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsIncomeProperties2019SingleTenantMember" xlink:label="cto_DispositionsIncomeProperties2019SingleTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsIncomeProperties2019SingleTenantMember" xlink:to="cto_DispositionsIncomeProperties2019SingleTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Income Properties, 2019, Single-tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Dispositions, Income Properties, Single-tenant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsIncomeProperties2019SingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019 Dispositions, Income Properties, Single-tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsBillboardSites2020Member" xlink:label="cto_DispositionsBillboardSites2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsBillboardSites2020Member" xlink:to="cto_DispositionsBillboardSites2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsBillboardSites2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Billboard Sites, 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsBillboardSites2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Billboard Sites</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsBillboardSites2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Billboard Sites</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DispositionsLandParcels2020Member" xlink:label="cto_DispositionsLandParcels2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DispositionsLandParcels2020Member" xlink:to="cto_DispositionsLandParcels2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DispositionsLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dispositions, Land Parcels, 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DispositionsLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Land Parcels</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DispositionsLandParcels2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020 Dispositions, Land Parcels</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement Location [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement Location [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySubjectToLeaseDisposalGroup2019Member" xlink:label="cto_IncomePropertySubjectToLeaseDisposalGroup2019Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySubjectToLeaseDisposalGroup2019Member" xlink:to="cto_IncomePropertySubjectToLeaseDisposalGroup2019Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySubjectToLeaseDisposalGroup2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Subject To Lease Disposal Group2019 [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySubjectToLeaseDisposalGroup2019Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Subject To Lease Disposal Group2019</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value of financial instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions of Income Properties</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DisposalGroupNumberOfProperties" xlink:label="cto_DisposalGroupNumberOfProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DisposalGroupNumberOfProperties" xlink:to="cto_DisposalGroupNumberOfProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DisposalGroupNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of properties in the disposal group.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DisposalGroupNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Number of Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DisposalGroupNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties in the disposal group</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfPropertiesDisposedForCash" xlink:label="cto_NumberOfPropertiesDisposedForCash" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfPropertiesDisposedForCash" xlink:to="cto_NumberOfPropertiesDisposedForCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfPropertiesDisposedForCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties disposed for cash.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfPropertiesDisposedForCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Properties Disposed For Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfPropertiesDisposedForCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties disposed for cash</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfRealEstatePropertiesSold" xlink:label="cto_NumberOfRealEstatePropertiesSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfRealEstatePropertiesSold" xlink:to="cto_NumberOfRealEstatePropertiesSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of real estate properties includes income properties, land and other property sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Real Estate Properties Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Shares, New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Units issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share purchased</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfPropertiesDisposedForUnitsIssued" xlink:label="cto_NumberOfPropertiesDisposedForUnitsIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfPropertiesDisposedForUnitsIssued" xlink:to="cto_NumberOfPropertiesDisposedForUnitsIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfPropertiesDisposedForUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties disposed in exchange of units issued.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfPropertiesDisposedForUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Properties Disposed For Units Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfPropertiesDisposedForUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties disposed for units</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare" xlink:label="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare" xlink:to="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount before tax of gain (loss) recognized on the sale or disposal of a disposal group. Excludes discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on sale of properties (in dollars per share)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_DisposalGroupNotDiscontinuedOperationGainLossOnDisposalPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on disposal per share</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeaseTermOfContract" xlink:label="us-gaap_LessorOperatingLeaseTermOfContract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeaseTermOfContract" xlink:to="us-gaap_LessorOperatingLeaseTermOfContract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeaseTermOfContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Term of Contract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeaseTermOfContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease term</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeaseTerminationAgreementAmountFundedToTenants" xlink:label="cto_LeaseTerminationAgreementAmountFundedToTenants" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeaseTerminationAgreementAmountFundedToTenants" xlink:to="cto_LeaseTerminationAgreementAmountFundedToTenants_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeaseTerminationAgreementAmountFundedToTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount funded by the lessor to the tenant of their original contribution towards completion of the building and tenant improvements and other personal property under the lease termination agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LeaseTerminationAgreementAmountFundedToTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Termination Agreement, Amount Funded To Tenants</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LeaseTerminationAgreementAmountFundedToTenants_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount funded to tenants</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromCollectionOfLeaseReceivables" xlink:label="us-gaap_ProceedsFromCollectionOfLeaseReceivables" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromCollectionOfLeaseReceivables" xlink:to="us-gaap_ProceedsFromCollectionOfLeaseReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromCollectionOfLeaseReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Collection of Lease Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromCollectionOfLeaseReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Collection of lease rent</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForTenantImprovements" xlink:label="us-gaap_PaymentsForTenantImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForTenantImprovements" xlink:to="us-gaap_PaymentsForTenantImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Tenant Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Less Amount Funded</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend" xlink:label="us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend" xlink:to="us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Existence of Option to Extend [true false]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LessorOperatingLeaseExistenceOfOptionToExtend_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Option to extend</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LessorOperatingLeaseNumberOfRenewalOptions" xlink:label="cto_LessorOperatingLeaseNumberOfRenewalOptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LessorOperatingLeaseNumberOfRenewalOptions" xlink:to="cto_LessorOperatingLeaseNumberOfRenewalOptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LessorOperatingLeaseNumberOfRenewalOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of renewal options under the leasing arrangement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LessorOperatingLeaseNumberOfRenewalOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor Operating Lease, Number Of Renewal Options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LessorOperatingLeaseNumberOfRenewalOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of renewal options</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeaseRenewalTerm" xlink:label="us-gaap_LessorOperatingLeaseRenewalTerm" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeaseRenewalTerm" xlink:to="us-gaap_LessorOperatingLeaseRenewalTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeaseRenewalTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Operating Lease, Renewal Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorOperatingLeaseRenewalTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renewal term</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MortgageLoansOnRealEstate" xlink:label="us-gaap_MortgageLoansOnRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstate" xlink:to="us-gaap_MortgageLoansOnRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at End of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at Beginning of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Commercial Loan and Master Lease Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying Amounts of Mortgages</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoansAndLeasesReceivableBeforeFeesGross" xlink:label="us-gaap_LoansAndLeasesReceivableBeforeFeesGross" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableBeforeFeesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans and Leases Receivable before Fees, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableBeforeFeesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current Face Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableBeforeFeesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate outstanding principal balance</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfPropertiesSold" xlink:label="cto_NumberOfPropertiesSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfPropertiesSold" xlink:to="cto_NumberOfPropertiesSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfPropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties sold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfPropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Properties Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfPropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringValueMeasurementAbstract" xlink:label="us-gaap_FairValueMeasurementsNonrecurringValueMeasurementAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsNonrecurringValueMeasurementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements, Nonrecurring Value Measurement [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsNonrecurringValueMeasurementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount allocated of total acquisition cost</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:label="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:to="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average amortization period of finite-lived intangible liabilities acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquired Finite-lived Intangible Liabilities, Weighted Average Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average amortization period of intangible liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateScheduleTable" xlink:label="srt_MortgageLoansOnRealEstateScheduleTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateScheduleTable" xlink:to="srt_MortgageLoansOnRealEstateScheduleTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateScheduleTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate Schedule [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FirstMortgageMember" xlink:label="us-gaap_FirstMortgageMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FirstMortgageMember" xlink:to="us-gaap_FirstMortgageMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FirstMortgageMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First Mortgage [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MasterTenantHialeahLeaseLoanHialeahFlMember" xlink:label="cto_MasterTenantHialeahLeaseLoanHialeahFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MasterTenantHialeahLeaseLoanHialeahFlMember" xlink:to="cto_MasterTenantHialeahLeaseLoanHialeahFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MasterTenantHialeahLeaseLoanHialeahFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to Hialeah Lease Loan, Florida.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MasterTenantHialeahLeaseLoanHialeahFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Master Tenant - Hialeah Lease Loan - Hialeah FL</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MortgageNote4311MapleAvenueDallasTxMember" xlink:label="cto_MortgageNote4311MapleAvenueDallasTxMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MortgageNote4311MapleAvenueDallasTxMember" xlink:to="cto_MortgageNote4311MapleAvenueDallasTxMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageNote4311MapleAvenueDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Note, 4311 Maple Avenue, Dallas, TX [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageNote4311MapleAvenueDallasTxMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Note - 4311 Maple Avenue, Dallas, TX</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MortgageNote110NBeachStreetDaytonaBeachFlMember" xlink:label="cto_MortgageNote110NBeachStreetDaytonaBeachFlMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MortgageNote110NBeachStreetDaytonaBeachFlMember" xlink:to="cto_MortgageNote110NBeachStreetDaytonaBeachFlMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageNote110NBeachStreetDaytonaBeachFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Note - 110 N Beach Street - Daytona Beach, FL [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageNote110NBeachStreetDaytonaBeachFlMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Note - 110 N Beach Street - Daytona Beach, FL</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateLineItems" xlink:label="srt_MortgageLoansOnRealEstateLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateLineItems" xlink:to="srt_MortgageLoansOnRealEstateLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans On Real Estate [Line Items]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loan Origination</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MortgageLoansOnRealEstateTerm" xlink:label="cto_MortgageLoansOnRealEstateTerm" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MortgageLoansOnRealEstateTerm" xlink:to="cto_MortgageLoansOnRealEstateTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageLoansOnRealEstateTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate Term.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageLoansOnRealEstateTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MortgageLoansOnRealEstateTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:to="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Face Amount of Mortgages</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Original Face Amount</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateInterestRate" xlink:label="srt_MortgageLoansOnRealEstateInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateInterestRate" xlink:to="srt_MortgageLoansOnRealEstateInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans On Real Estate Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MortgageLoansOnRealEstateInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Coupon Rate</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ImputedInterestOnGroundLeaseLoan" xlink:label="cto_ImputedInterestOnGroundLeaseLoan" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ImputedInterestOnGroundLeaseLoan" xlink:to="cto_ImputedInterestOnGroundLeaseLoan_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ImputedInterestOnGroundLeaseLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Imputed Interest on Ground Lease Loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ImputedInterestOnGroundLeaseLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Imputed Interest on Ground Lease Loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ImputedInterestOnGroundLeaseLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Imputed Interest over Rent Payments Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_ImputedInterestOnGroundLeaseLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Imputed Interest Over Rent Payments on Ground Lease Loan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums" xlink:label="us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums" xlink:to="us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unaccreted Origination Fees</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableAllowance" xlink:to="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans and Leases Receivable, Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CECL Reserve</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current expected credit losses reserve</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PromissoryNoteMember" xlink:label="cto_PromissoryNoteMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PromissoryNoteMember" xlink:to="cto_PromissoryNoteMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PromissoryNoteMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Promissory note.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PromissoryNoteMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Promissory note</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherAssetImpairmentCharges" xlink:label="us-gaap_OtherAssetImpairmentCharges" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetImpairmentCharges" xlink:to="us-gaap_OtherAssetImpairmentCharges_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Asset Impairment Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssetImpairmentCharges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate impairment charges after tax</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AssetImpairmentChargesPerShare" xlink:label="cto_AssetImpairmentChargesPerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AssetImpairmentChargesPerShare" xlink:to="cto_AssetImpairmentChargesPerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AssetImpairmentChargesPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The per share amount of asset impairment charges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AssetImpairmentChargesPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Impairment Charges Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AssetImpairmentChargesPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate impairment charges per share, after tax</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfCommercialLoanInvestmentSold" xlink:label="cto_NumberOfCommercialLoanInvestmentSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfCommercialLoanInvestmentSold" xlink:to="cto_NumberOfCommercialLoanInvestmentSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfCommercialLoanInvestmentSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of commercial loan investment sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfCommercialLoanInvestmentSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Commercial Loan Investment Sold</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold" xlink:label="cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold" xlink:to="cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of transactions in which the commercial loan investments were sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfTransactionsInWhichCommercialLoanInvestmentsWereSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Transactions In Which Commercial Loan Investments Were Sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfLoansHeldForInvestment" xlink:label="us-gaap_ProceedsFromSaleOfLoansHeldForInvestment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLoansHeldForInvestment" xlink:to="us-gaap_ProceedsFromSaleOfLoansHeldForInvestment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfLoansHeldForInvestment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Loans Held-for-investment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax" xlink:label="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax" xlink:to="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The per share, after tax value of gain (loss) on sale of loans held for investment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) On Sale Of Loans Held For Investment Per Share, Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GainLossOnSaleOfLoansHeldForInvestmentPerShareNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss on sale of loans (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:label="us-gaap_ProceedsFromCollectionOfLoansReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:to="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Collection of Loans Receivable</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="us-gaap_RelatedPartyTransactionAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAxis" xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="us-gaap_RelatedPartyTransactionDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDomain" xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ManagementAgreementWithPineMember" xlink:label="cto_ManagementAgreementWithPineMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ManagementAgreementWithPineMember" xlink:to="cto_ManagementAgreementWithPineMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ManagementAgreementWithPineMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Agreement With PINE [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ManagementAgreementWithPineMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Agreement PINE</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AlpineMember" xlink:label="cto_AlpineMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AlpineMember" xlink:to="cto_AlpineMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AlpineMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alpine [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AlpineMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alpine</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AcquisitionsOfIncomePropertySubjectToLease2022Member" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2022Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsOfIncomePropertySubjectToLease2022Member" xlink:to="cto_AcquisitionsOfIncomePropertySubjectToLease2022Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2022Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions of Income Property Subject to Lease, 2022 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLease2022Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2022 Acquisitions</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsidiarySaleOfStockAxis" xlink:label="us-gaap_SubsidiarySaleOfStockAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiarySaleOfStockAxis" xlink:to="us-gaap_SubsidiarySaleOfStockAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiarySaleOfStockAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Stock [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SaleOfStockNameOfTransactionDomain" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Stock [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PrivatePlacementMember" xlink:label="us-gaap_PrivatePlacementMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrivatePlacementMember" xlink:to="us-gaap_PrivatePlacementMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrivatePlacementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Private placement</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IPOMember" xlink:label="us-gaap_IPOMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IPOMember" xlink:to="us-gaap_IPOMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IPOMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IPO Purchase</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MortgageNotesPayableUnderCmbsPortfolioMember" xlink:label="cto_MortgageNotesPayableUnderCmbsPortfolioMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MortgageNotesPayableUnderCmbsPortfolioMember" xlink:to="cto_MortgageNotesPayableUnderCmbsPortfolioMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageNotesPayableUnderCmbsPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Notes Payable Under CMBS Portfolio [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageNotesPayableUnderCmbsPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Notes Payable Under CMBS Portfolio</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantMember" xlink:label="cto_IncomePropertySingleTenantMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantMember" xlink:to="cto_IncomePropertySingleTenantMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Single Tenant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Single Tenant</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RelatedPartyQuarterlyManagementFeePercentage" xlink:label="cto_RelatedPartyQuarterlyManagementFeePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RelatedPartyQuarterlyManagementFeePercentage" xlink:to="cto_RelatedPartyQuarterlyManagementFeePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RelatedPartyQuarterlyManagementFeePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of quarterly management fee in a related party transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RelatedPartyQuarterlyManagementFeePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party, Quarterly Management Fee Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RelatedPartyQuarterlyManagementFeePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of base management fee</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyManagementFeePercentFee" xlink:label="us-gaap_PropertyManagementFeePercentFee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyManagementFeePercentFee" xlink:to="us-gaap_PropertyManagementFeePercentFee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyManagementFeePercentFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Management Fee, Percent Fee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyManagementFeePercentFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management fee (as a percent)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate" xlink:label="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate" xlink:to="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of cumulative annual hurdle rate in a related party transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction, Percentage of Cumulative Annual Hurdle Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RelatedPartyTransactionPercentageOfCumulativeAnnualHurdleRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of cumulative annual hurdle rate</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod" xlink:label="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod" xlink:to="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Threshold amount for incentive fee in each measurement period in a related party transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction, Threshold Amount, for Incentive Fee in Each Measurement Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RelatedPartyTransactionThresholdAmountForIncentiveFeeInEachMeasurementPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of threshold incentive fee</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee" xlink:label="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee" xlink:to="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multiplying factor for calculation of incentive fee in a related party transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related party Transaction, Multiplying Factor for Calculation of Incentive Fee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RelatedPartyTransactionMultiplyingFactorForCalculationOfIncentiveFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of multiply factor</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction, Other Revenues from Transactions with Related Party</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of incentive fee</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyManagementFeeRevenue" xlink:label="us-gaap_PropertyManagementFeeRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyManagementFeeRevenue" xlink:to="us-gaap_PropertyManagementFeeRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyManagementFeeRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Management Fee Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyManagementFeeRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management fee revenue earned</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromDividendsReceived" xlink:label="us-gaap_ProceedsFromDividendsReceived" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDividendsReceived" xlink:to="us-gaap_ProceedsFromDividendsReceived_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromDividendsReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Dividends Received</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstate" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfRealEstate" xlink:to="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate cash consideration</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfContributedProperties" xlink:label="cto_NumberOfContributedProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfContributedProperties" xlink:to="cto_NumberOfContributedProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfContributedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of contributed properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfContributedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Contributed Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfContributedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of contributed properties</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PartnersCapitalAccountUnitsConverted" xlink:label="us-gaap_PartnersCapitalAccountUnitsConverted" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsConverted" xlink:to="us-gaap_PartnersCapitalAccountUnitsConverted_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsConverted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partners' Capital Account, Units, Converted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountUnitsConverted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate of OP units</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PartnersCapitalAccountExchangesAndConversions" xlink:label="us-gaap_PartnersCapitalAccountExchangesAndConversions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountExchangesAndConversions" xlink:to="us-gaap_PartnersCapitalAccountExchangesAndConversions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountExchangesAndConversions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partners' Capital Account, Exchanges and Conversions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountExchangesAndConversions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Initial value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SharesAuthorizedForPurchaseByBoard" xlink:label="cto_SharesAuthorizedForPurchaseByBoard" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SharesAuthorizedForPurchaseByBoard" xlink:to="cto_SharesAuthorizedForPurchaseByBoard_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SharesAuthorizedForPurchaseByBoard_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of shares authorized for purchase by the board.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SharesAuthorizedForPurchaseByBoard_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares Authorized For Purchase By The Board</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SharesAuthorizedForPurchaseByBoard_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of shares authorized for purchase by the board</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstateAcquiredPurchasePrice" xlink:label="cto_RealEstateAcquiredPurchasePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstateAcquiredPurchasePrice" xlink:to="cto_RealEstateAcquiredPurchasePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RealEstateAcquiredPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate acquired purchase price.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RealEstateAcquiredPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Acquired Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RealEstateAcquiredPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate acquired purchase price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Face Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current Face Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding Principal</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Long-Term Debt - Face Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Face Value of Debt</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PropertyManagementFeeRevenuePerMonth" xlink:label="cto_PropertyManagementFeeRevenuePerMonth" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PropertyManagementFeeRevenuePerMonth" xlink:to="cto_PropertyManagementFeeRevenuePerMonth_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PropertyManagementFeeRevenuePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of revenue derived from managing real estate properties per month.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PropertyManagementFeeRevenuePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Management Fee Revenue Per Month</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_PropertyManagementFeeRevenuePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management fee revenue earned per month</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RevisedPropertyManagementFeePerMonth" xlink:label="cto_RevisedPropertyManagementFeePerMonth" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RevisedPropertyManagementFeePerMonth" xlink:to="cto_RevisedPropertyManagementFeePerMonth_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RevisedPropertyManagementFeePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of revenue derived from managing real estate properties per month.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RevisedPropertyManagementFeePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revised Property Management Fee, Per Month</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RevisedPropertyManagementFeePerMonth_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monthly management fee</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ManagementServiceFeeRelatedParties" xlink:label="cto_ManagementServiceFeeRelatedParties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ManagementServiceFeeRelatedParties" xlink:to="cto_ManagementServiceFeeRelatedParties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ManagementServiceFeeRelatedParties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amounts of management service fee due from parties associated with the reporting entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ManagementServiceFeeRelatedParties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Service Fee, Related Parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ManagementServiceFeeRelatedParties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Management Services Fee due from PINE</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RelatedPartyTransactionDividendReceivableOpUnits" xlink:label="cto_RelatedPartyTransactionDividendReceivableOpUnits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RelatedPartyTransactionDividendReceivableOpUnits" xlink:to="cto_RelatedPartyTransactionDividendReceivableOpUnits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RelatedPartyTransactionDividendReceivableOpUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of dividend receivable from Operating Partnership Units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RelatedPartyTransactionDividendReceivableOpUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction, Dividend Receivable, OP Units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RelatedPartyTransactionDividendReceivableOpUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend receivable</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DueFromDueToRelatedPartiesOther" xlink:label="cto_DueFromDueToRelatedPartiesOther" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DueFromDueToRelatedPartiesOther" xlink:to="cto_DueFromDueToRelatedPartiesOther_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DueFromDueToRelatedPartiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due from (Due to) Related Parties, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DueFromDueToRelatedPartiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due from (Due to) Related Parties, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DueFromDueToRelatedPartiesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due from Related Parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests" xlink:label="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests" xlink:to="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying amount as of the balance sheet date, net of valuation allowances and impairment losses, of costs of land expected to be developed in the near term plus capitalized costs of development, for purposes of selling completed units to home buyers or commercial or industrial entities. Excludes land inventory containing timber and subsurface interests.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Real Estate, Land and Land Development Costs, Other than Timber and Subsurface Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InventoryRealEstateLandAndLandDevelopmentCostsOtherThanTimberAndSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and Development Costs</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InventoryRealEstateSubsurfaceInterests" xlink:label="cto_InventoryRealEstateSubsurfaceInterests" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InventoryRealEstateSubsurfaceInterests" xlink:to="cto_InventoryRealEstateSubsurfaceInterests_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InventoryRealEstateSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory Real Estate Subsurface Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InventoryRealEstateSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory Real Estate Subsurface Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InventoryRealEstateSubsurfaceInterests_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Interests</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateMember" xlink:label="us-gaap_RealEstateMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateMember" xlink:to="us-gaap_RealEstateMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AgricultureMember" xlink:label="cto_AgricultureMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AgricultureMember" xlink:to="cto_AgricultureMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AgricultureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Agriculture [Member].</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AgricultureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Agriculture</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SegmentDiscontinuedOperationsMember" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDiscontinuedOperationsMember" xlink:to="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued operations</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue" xlink:label="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue" xlink:to="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue from Contract with Customer, Including Assessed Tax, and Operating Leases, Income Statement, Lease Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue from Contract with Customer, Including Assessed Tax, and Operating Leases, Income Statement, Lease Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RevenueFromContractWithCustomerIncludingAssessedTaxAndOperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandParcelWithStructuresBeachPropertyMember" xlink:label="cto_LandParcelWithStructuresBeachPropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandParcelWithStructuresBeachPropertyMember" xlink:to="cto_LandParcelWithStructuresBeachPropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandParcelWithStructuresBeachPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Parcel with Structures Beach Property.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandParcelWithStructuresBeachPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Parcel with Structures Beach Property</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ContiguousParcelsBeachPropertyMember" xlink:label="cto_ContiguousParcelsBeachPropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ContiguousParcelsBeachPropertyMember" xlink:to="cto_ContiguousParcelsBeachPropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ContiguousParcelsBeachPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contiguous Parcels Beach Property.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ContiguousParcelsBeachPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contiguous Parcels Beach Property</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DaytonaBeachDevelopmentMember" xlink:label="cto_DaytonaBeachDevelopmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DaytonaBeachDevelopmentMember" xlink:to="cto_DaytonaBeachDevelopmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DaytonaBeachDevelopmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Daytona Beach Development [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DaytonaBeachDevelopmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Daytona Beach Development</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireLand" xlink:label="us-gaap_PaymentsToAcquireLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireLand" xlink:to="us-gaap_PaymentsToAcquireLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments To Acquire Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsToAcquireLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of property</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RazeAndEntitlementCost" xlink:label="cto_RazeAndEntitlementCost" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RazeAndEntitlementCost" xlink:to="cto_RazeAndEntitlementCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RazeAndEntitlementCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of raze and entitlement cost incurred during period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RazeAndEntitlementCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Raze and Entitlement Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RazeAndEntitlementCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Raze and entitlement cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromSaleOfLandHeldForUse" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldForUse" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLandHeldForUse" xlink:to="us-gaap_ProceedsFromSaleOfLandHeldForUse_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldForUse_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Sale of Land Held-for-use</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldForUse_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainLossOnSaleOfProperties" xlink:label="us-gaap_GainLossOnSaleOfProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfProperties" xlink:to="us-gaap_GainLossOnSaleOfProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (Loss) on Sale of Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainLossOnSaleOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on Sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_OwnershipAxis" xlink:label="srt_OwnershipAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipAxis" xlink:to="srt_OwnershipAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ownership [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_OwnershipDomain" xlink:label="srt_OwnershipDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipDomain" xlink:to="srt_OwnershipDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ownership [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfMitigationCreditsSold" xlink:label="cto_NumberOfMitigationCreditsSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfMitigationCreditsSold" xlink:to="cto_NumberOfMitigationCreditsSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfMitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of mitigation credits sold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfMitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Mitigation Credits Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfMitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of mitigation credits sold</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsAcquired" xlink:label="cto_MitigationCreditsAcquired" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsAcquired" xlink:to="cto_MitigationCreditsAcquired_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of mitigation credits newly acquired as at the end of the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, acquired</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits" xlink:label="cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits" xlink:to="cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of interest purchase amount allocated to mitigation credits in asset acquisition.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AssetAcquisitionInterestPurchaseAmountAllocatedToMitigationCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition, Interest Purchase Amount Allocated to Mitigation Credits</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration" xlink:label="us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration" xlink:to="us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition, Consideration Transferred, Contingent Consideration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetAcquisitionConsiderationTransferredContingentConsideration_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquired price</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AssetRetainedInterestPreviouslyRecordedValue" xlink:label="cto_AssetRetainedInterestPreviouslyRecordedValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AssetRetainedInterestPreviouslyRecordedValue" xlink:to="cto_AssetRetainedInterestPreviouslyRecordedValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AssetRetainedInterestPreviouslyRecordedValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of previously recorded value of interest purchase in the entity that owns the acquire.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AssetRetainedInterestPreviouslyRecordedValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Retained Interest, Previously Recorded Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AssetRetainedInterestPreviouslyRecordedValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Previously recorded value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditAndMitigationCreditRights" xlink:label="cto_MitigationCreditAndMitigationCreditRights" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditAndMitigationCreditRights" xlink:to="cto_MitigationCreditAndMitigationCreditRights_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditAndMitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credit and mitigation credit rights.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditAndMitigationCreditRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credit and mitigation credit rights</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditRightsAcquired" xlink:label="cto_MitigationCreditRightsAcquired" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditRightsAcquired" xlink:to="cto_MitigationCreditRightsAcquired_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditRightsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credit rights acquired.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditRightsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credit rights acquired</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsCostBasis" xlink:label="cto_MitigationCreditsCostBasis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsCostBasis" xlink:to="cto_MitigationCreditsCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Cost Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Cost Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, cost basis</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfMitigationCreditsWithCostBasis" xlink:label="cto_NumberOfMitigationCreditsWithCostBasis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfMitigationCreditsWithCostBasis" xlink:to="cto_NumberOfMitigationCreditsWithCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfMitigationCreditsWithCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of mitigation credits with cost basis .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfMitigationCreditsWithCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Mitigation Credits With Cost Basis</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfMitigationCreditsCostBasisExpenseAccrued" xlink:label="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued" xlink:to="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Mitigation Credits, Cost Basis, Expense Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Mitigation Credits, Cost Basis, Expense Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_NumberOfMitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of mitigation credits accrued</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsCostBasisExpenseAccrued" xlink:label="cto_MitigationCreditsCostBasisExpenseAccrued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsCostBasisExpenseAccrued" xlink:to="cto_MitigationCreditsCostBasisExpenseAccrued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Cost Basis, Expense Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Cost Basis, Expense Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsCostBasisExpenseAccrued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits accrued as an expense</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NumberOfMitigationCreditsAcquired" xlink:label="cto_NumberOfMitigationCreditsAcquired" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NumberOfMitigationCreditsAcquired" xlink:to="cto_NumberOfMitigationCreditsAcquired_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NumberOfMitigationCreditsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of mitigation credits acquired.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NumberOfMitigationCreditsAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Mitigation Credits Acquired</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPurchased" xlink:label="cto_MitigationCreditsPurchased" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPurchased" xlink:to="cto_MitigationCreditsPurchased_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPurchased_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The purchase amount of mitigation credits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPurchased_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits Purchased</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightValuePerCredit" xlink:label="cto_MitigationCreditsPutRightValuePerCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPutRightValuePerCredit" xlink:to="cto_MitigationCreditsPutRightValuePerCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightValuePerCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits value per credit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightValuePerCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, Value Per Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightValuePerCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits value per credit</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AggregateCostOfSalesOfCredits" xlink:label="cto_AggregateCostOfSalesOfCredits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AggregateCostOfSalesOfCredits" xlink:to="cto_AggregateCostOfSalesOfCredits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AggregateCostOfSalesOfCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate cost of sale credits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AggregateCostOfSalesOfCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate Cost of Sales of Credits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AggregateCostOfSalesOfCredits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate cost of sales</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AmountOfMitigationCreditsWithCostBasis" xlink:label="cto_AmountOfMitigationCreditsWithCostBasis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AmountOfMitigationCreditsWithCostBasis" xlink:to="cto_AmountOfMitigationCreditsWithCostBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AmountOfMitigationCreditsWithCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of mitigation credits with cost basis .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AmountOfMitigationCreditsWithCostBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of Mitigation Credits With Cost Basis</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsSold" xlink:label="cto_MitigationCreditsSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsSold" xlink:to="cto_MitigationCreditsSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of mitigation credits sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorLeaseDescriptionTable" xlink:label="us-gaap_LessorLeaseDescriptionTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorLeaseDescriptionTable" xlink:to="us-gaap_LessorLeaseDescriptionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorLeaseDescriptionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Lease, Description [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProductiveLandMember" xlink:label="us-gaap_ProductiveLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductiveLandMember" xlink:to="us-gaap_ProductiveLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProductiveLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Surface land over subsurface interests</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SubsurfaceRevenueLandSalesMember" xlink:label="cto_SubsurfaceRevenueLandSalesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SubsurfaceRevenueLandSalesMember" xlink:to="cto_SubsurfaceRevenueLandSalesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SubsurfaceRevenueLandSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Land Sales [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SubsurfaceRevenueLandSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Land Sales</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SubsurfaceRevenueLandSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Revenue, Land Sales</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RoyaltyMember" xlink:label="us-gaap_RoyaltyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyMember" xlink:to="us-gaap_RoyaltyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RoyaltyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RoyaltyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SubsurfaceInterestsInProductiveLandMember" xlink:label="cto_SubsurfaceInterestsInProductiveLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SubsurfaceInterestsInProductiveLandMember" xlink:to="cto_SubsurfaceInterestsInProductiveLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SubsurfaceInterestsInProductiveLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Interests In Productive Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SubsurfaceInterestsInProductiveLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface Interests</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorLeaseDescriptionLineItems" xlink:label="us-gaap_LessorLeaseDescriptionLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorLeaseDescriptionLineItems" xlink:to="us-gaap_LessorLeaseDescriptionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorLeaseDescriptionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessor, Lease, Description [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorLeaseDescriptionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ExtractiveIndustriesAbstract" xlink:label="srt_ExtractiveIndustriesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ExtractiveIndustriesAbstract" xlink:to="srt_ExtractiveIndustriesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ExtractiveIndustriesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Extractive Industries [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ExtractiveIndustriesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsurface interests</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights" xlink:label="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights" xlink:to="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The revenue from real estate operations recognized for cash payments received for the release of surface entry rights during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Revenue Recognized, Cash Payments Received for Release of Surface Entry Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RealEstateRevenueRecognizedCashPaymentsReceivedForReleaseOfSurfaceEntryRights_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue recognized for cash payments for the release of surface entry rights</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TransactionTypeAxis" xlink:label="us-gaap_TransactionTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransactionTypeAxis" xlink:to="us-gaap_TransactionTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransactionTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transaction Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TransactionDomain" xlink:label="us-gaap_TransactionDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransactionDomain" xlink:to="us-gaap_TransactionDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransactionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transaction [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesMember" xlink:label="cto_LandSalesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesMember" xlink:to="cto_LandSalesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents contractual arrangements for the sale of land.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MagnetarLandSaleMember" xlink:label="cto_MagnetarLandSaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MagnetarLandSaleMember" xlink:to="cto_MagnetarLandSaleMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MagnetarLandSaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Magnetar Land Sale.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MagnetarLandSaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Magnetar Land Sale</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_UnicorpDevelopmentOneMember" xlink:label="cto_UnicorpDevelopmentOneMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_UnicorpDevelopmentOneMember" xlink:to="cto_UnicorpDevelopmentOneMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_UnicorpDevelopmentOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Unicorp Development One.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_UnicorpDevelopmentOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unicorp Development One</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_UnicorpDevelopmentTwoMember" xlink:label="cto_UnicorpDevelopmentTwoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_UnicorpDevelopmentTwoMember" xlink:to="cto_UnicorpDevelopmentTwoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_UnicorpDevelopmentTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Unicorp Development Two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_UnicorpDevelopmentTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unicorp Development Two</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSaleToNadgMember" xlink:label="cto_LandSaleToNadgMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSaleToNadgMember" xlink:to="cto_LandSaleToNadgMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSaleToNadgMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Land sale to NADG.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSaleToNadgMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land sale to NADG</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_UndevelopedLandMember" xlink:label="cto_UndevelopedLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_UndevelopedLandMember" xlink:to="cto_UndevelopedLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_UndevelopedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Undeveloped land.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_UndevelopedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Undeveloped land</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesAreaOfLandLandSaleTransactionsTotal" xlink:label="cto_LandSalesAreaOfLandLandSaleTransactionsTotal" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesAreaOfLandLandSaleTransactionsTotal" xlink:to="cto_LandSalesAreaOfLandLandSaleTransactionsTotal_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesAreaOfLandLandSaleTransactionsTotal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Area of Land, Land Sale Transactions, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesAreaOfLandLandSaleTransactionsTotal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Area of Land, Land Sale Transactions, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="cto_LandSalesAreaOfLandLandSaleTransactionsTotal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of land sale transactions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings" xlink:label="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings" xlink:to="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the area of land sold in the reporting period as a percentage of the total area of land holdings.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Area of Land, Percentage of Area of Land Holdings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LandSalesAreaOfLandPercentageOfAreaOfLandHoldings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of land sales as a percentage of land holdings</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandSalesGrossSalesPrice" xlink:label="cto_LandSalesGrossSalesPrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandSalesGrossSalesPrice" xlink:to="cto_LandSalesGrossSalesPrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandSalesGrossSalesPrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Gross Sales Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandSalesGrossSalesPrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Sales, Gross Sales Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LandSalesGrossSalesPrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross Sales Price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="us-gaap_ScheduleOfEquityMethodInvestmentsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="us-gaap_ScheduleOfEquityMethodInvestmentsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEquityMethodInvestmentsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Equity Method Investments [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Equity Method Investments [Line Items]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentFinancialStatementReportedAmountsAbstract" xlink:label="us-gaap_EquityMethodInvestmentFinancialStatementReportedAmountsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentFinancialStatementReportedAmountsAbstract" xlink:to="us-gaap_EquityMethodInvestmentFinancialStatementReportedAmountsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentFinancialStatementReportedAmountsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Method Investment, Financial Statement, Reported Amounts [Abstract]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis" xlink:to="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Method Investment, Nonconsolidated Investee [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:to="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Method Investment, Nonconsolidated Investee [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember" xlink:to="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAbstract" xlink:label="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAbstract" xlink:to="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Method Investment, Summarized Financial Information [Abstract]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid expenses</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LandAvailableForDevelopment" xlink:label="us-gaap_LandAvailableForDevelopment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAvailableForDevelopment" xlink:to="us-gaap_LandAvailableForDevelopment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandAvailableForDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Available for Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LandAvailableForDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment in land assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherOperatingIncomeExpenseNet" xlink:label="us-gaap_OtherOperatingIncomeExpenseNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherOperatingIncomeExpenseNet" xlink:to="us-gaap_OtherOperatingIncomeExpenseNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherOperatingIncomeExpenseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Operating Income (Expense), Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherOperatingIncomeExpenseNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Operating Expenses</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (Loss) from Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (loss) from equity method investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromDivestitureOfInterestInJointVenture" xlink:label="us-gaap_ProceedsFromDivestitureOfInterestInJointVenture" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDivestitureOfInterestInJointVenture" xlink:to="us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Divestiture of Interest in Joint Venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales price</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SaleOfInterestInJointVenturePercentage" xlink:label="cto_SaleOfInterestInJointVenturePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SaleOfInterestInJointVenturePercentage" xlink:to="cto_SaleOfInterestInJointVenturePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SaleOfInterestInJointVenturePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Interest in Joint Venture, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SaleOfInterestInJointVenturePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Interest in Joint Venture, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SaleOfInterestInJointVenturePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of interest in joint venture</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RemainingInterestAcquiredInJointVenturePercent" xlink:label="cto_RemainingInterestAcquiredInJointVenturePercent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RemainingInterestAcquiredInJointVenturePercent" xlink:to="cto_RemainingInterestAcquiredInJointVenturePercent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RemainingInterestAcquiredInJointVenturePercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of remaining interest acquired in Joint venture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RemainingInterestAcquiredInJointVenturePercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining Interest Acquired in Joint Venture, Percent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RemainingInterestAcquiredInJointVenturePercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity interest acquired</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireProductiveAssets" xlink:to="us-gaap_PaymentsToAcquireProductiveAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Productive Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Capital Expenditures</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Cash" xlink:to="us-gaap_Cash_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AssetAcquisitionTotalInterestPurchased" xlink:label="cto_AssetAcquisitionTotalInterestPurchased" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AssetAcquisitionTotalInterestPurchased" xlink:to="cto_AssetAcquisitionTotalInterestPurchased_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AssetAcquisitionTotalInterestPurchased_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of total cost of interest purchased in asset acquisition.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AssetAcquisitionTotalInterestPurchased_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Acquisition, Total Interest Purchased</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AssetAcquisitionTotalInterestPurchased_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashEquivalents" xlink:label="us-gaap_RestrictedCashEquivalents" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashEquivalents" xlink:to="us-gaap_RestrictedCashEquivalents_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash Equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCashEquivalents_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions" xlink:to="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Requirement, Minimum Revenue, Net of Commissions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Requirement, Minimum Revenue, Net of Commissions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMinimumRevenueNetOfCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Operating Agreement, credit sales, Minimum Sales Requirement, minimum revenue, net of commissions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber" xlink:to="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Requirement, Maximum Credits, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Requirement, Maximum Credits, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesRequirementMaximumCreditsNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Operating Agreement, credit sales, Minimum Sales Requirement, maximum credits, number</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue" xlink:to="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Guarantee, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Operating Agreement, Credit Sales, Minimum Sales Guarantee, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsOperatingAgreementCreditSalesMinimumSalesGuaranteeFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Operating Agreement, credit sales, Minimum Sales Guarantee, fair value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber" xlink:to="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Credits Entity Must Purchase, Per Quarter, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Credits Entity Must Purchase, Per Quarter, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, maximum credits the Company must purchase, per quarter, number | instrument</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage" xlink:to="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Credits Entity Must Purchase, Per Quarter, Price to Fair Value, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Credits Entity Must Purchase, Per Quarter, Price to Fair Value, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightMaximumCreditsEntityMustPurchasePerQuarterPriceToFairValuePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, maximum credits the Company must purchase, per quarter, price to fair value (as a percent)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightThirdPartyCreditSalesReductionInPutRightsOutstandingIfSalesPriceEqualsOrExceedsPriceStipulatedByPutRightRatio" xlink:label="cto_MitigationCreditsPutRightThirdPartyCreditSalesReductionInPutRightsOutstandingIfSalesPriceEqualsOrExceedsPriceStipulatedByPutRightRatio" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightThirdPartyCreditSalesReductionInPutRightsOutstandingIfSalesPriceEqualsOrExceedsPriceStipulatedByPutRightRatio_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Third-party Credit Sales, Reduction in Put Rights Outstanding if Sales Price Equals or Exceeds Price Stipulated by Put Right, Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightThirdPartyCreditSalesReductionInPutRightsOutstandingIfSalesPriceEqualsOrExceedsPriceStipulatedByPutRightRatio_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Third-party Credit Sales, Reduction in Put Rights Outstanding if Sales Price Equals or Exceeds Price Stipulated by Put Right, Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightThirdPartyCreditSalesReductionInPutRightsOutstandingIfSalesPriceEqualsOrExceedsPriceStipulatedByPutRightRatio_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, third-party credit sales, reduction in Put Rights outstanding if sales price equals or exceeds price stipulated by Put Right, ratio</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightMaximumPotentialFuturePayments" xlink:label="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments" xlink:to="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Potential Future Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Maximum Potential Future Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightMaximumPotentialFuturePayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, maximum potential future payments</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsPutRightFairValue" xlink:label="cto_MitigationCreditsPutRightFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsPutRightFairValue" xlink:to="cto_MitigationCreditsPutRightFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsPutRightFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsPutRightFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Put Right, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MitigationCreditsPutRightFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation credits, Put Right, fair value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MitigationCreditsExercisedPutRight" xlink:label="cto_MitigationCreditsExercisedPutRight" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MitigationCreditsExercisedPutRight" xlink:to="cto_MitigationCreditsExercisedPutRight_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MitigationCreditsExercisedPutRight_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Exercised Put Right</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MitigationCreditsExercisedPutRight_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mitigation Credits, Exercised Put Right</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RestrictedCashFairValueDisclosure" xlink:label="cto_RestrictedCashFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RestrictedCashFairValueDisclosure" xlink:to="cto_RestrictedCashFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RestrictedCashFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted cash fair value disclosure.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RestrictedCashFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RestrictedCashFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="us-gaap_LoansReceivableFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableFairValueDisclosure" xlink:to="us-gaap_LoansReceivableFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans Receivable, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansReceivableFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Loan Investments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtFairValue" xlink:label="us-gaap_LongTermDebtFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtFairValue" xlink:to="us-gaap_LongTermDebtFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-Term Debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementsRecurringMember" xlink:label="us-gaap_FairValueMeasurementsRecurringMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsRecurringMember" xlink:to="us-gaap_FairValueMeasurementsRecurringMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsRecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Recurring basis</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investments [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_WellsFargoMember" xlink:label="cto_WellsFargoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_WellsFargoMember" xlink:to="cto_WellsFargoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_WellsFargoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Fargo.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_WellsFargoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Fargo Mortgage Note Payable [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentySixTermLoanOneMember" xlink:label="cto_TwoThousandTwentySixTermLoanOneMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentySixTermLoanOneMember" xlink:to="cto_TwoThousandTwentySixTermLoanOneMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentySixTermLoanOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Two thousand twenty six term loan one.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentySixTermLoanOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2026 Term Loan One [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentySevenTermLoanTwoMember" xlink:label="cto_TwoThousandTwentySevenTermLoanTwoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentySevenTermLoanTwoMember" xlink:to="cto_TwoThousandTwentySevenTermLoanTwoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentySevenTermLoanTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Two thousand twenty seven term loan two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentySevenTermLoanTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2027 Term Loan Two [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BankOfMontrealCreditAgreementAsAmendedMember" xlink:label="cto_BankOfMontrealCreditAgreementAsAmendedMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BankOfMontrealCreditAgreementAsAmendedMember" xlink:to="cto_BankOfMontrealCreditAgreementAsAmendedMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BankOfMontrealCreditAgreementAsAmendedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the Credit Agreement between the entity and Bank of Montreal, including any amendments thereto.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BankOfMontrealCreditAgreementAsAmendedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_WellsFargoMortgageLoanMember" xlink:label="cto_WellsFargoMortgageLoanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_WellsFargoMortgageLoanMember" xlink:to="cto_WellsFargoMortgageLoanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_WellsFargoMortgageLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Fargo Mortgage Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_WellsFargoMortgageLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Fargo Mortgage Loan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative Instrument [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="us-gaap_DerivativeContractTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative Contract [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestRateSwapMember" xlink:label="us-gaap_InterestRateSwapMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateSwapMember" xlink:to="us-gaap_InterestRateSwapMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateSwapMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Rate Swap</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets, Fair Value Disclosure [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value of assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssets" xlink:to="us-gaap_DerivativeAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative Asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Flow Hedge - Interest Rate Swap</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Interest Rate, Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest rate (as a percent)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeNotionalAmount" xlink:label="us-gaap_DerivativeNotionalAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNotionalAmount" xlink:to="us-gaap_DerivativeNotionalAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative, Notional Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notional amount</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset fair value</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IntangibleAssetsAndLiabilitiesTable" xlink:label="cto_IntangibleAssetsAndLiabilitiesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IntangibleAssetsAndLiabilitiesTable" xlink:to="cto_IntangibleAssetsAndLiabilitiesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IntangibleAssetsAndLiabilitiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets and liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IntangibleAssetsAndLiabilitiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Assets And Liabilities [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMember" xlink:label="us-gaap_LeasesAcquiredInPlaceMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesAcquiredInPlaceMember" xlink:to="us-gaap_LeasesAcquiredInPlaceMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesAcquiredInPlaceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of In-Place Leases [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AboveMarketLeasesMember" xlink:label="us-gaap_AboveMarketLeasesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AboveMarketLeasesMember" xlink:to="us-gaap_AboveMarketLeasesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AboveMarketLeasesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of Above Market In-Place Leases [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LeaseAgreementsMember" xlink:label="us-gaap_LeaseAgreementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAgreementsMember" xlink:to="us-gaap_LeaseAgreementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseAgreementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of Intangible Leasing Costs [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IntangibleAssetsAndLiabilitiesLineItems" xlink:label="cto_IntangibleAssetsAndLiabilitiesLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IntangibleAssetsAndLiabilitiesLineItems" xlink:to="cto_IntangibleAssetsAndLiabilitiesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IntangibleAssetsAndLiabilitiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IntangibleAssetsAndLiabilitiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Assets And Liabilities [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IntangibleAssetsAndLiabilitiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Assets And Liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sub-total Intangible Lease Assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Amortization</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseNetAbstract" xlink:label="us-gaap_BelowMarketLeaseNetAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BelowMarketLeaseNetAbstract" xlink:to="us-gaap_BelowMarketLeaseNetAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BelowMarketLeaseNetAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below Market Lease, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BelowMarketLeaseNetAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Lease Liabilities (Included in Accrued and Other Liabilities):</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseGross" xlink:label="us-gaap_BelowMarketLeaseGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BelowMarketLeaseGross" xlink:to="us-gaap_BelowMarketLeaseGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BelowMarketLeaseGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below Market Lease, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_BelowMarketLeaseGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of Below Market In-Place Leases</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IntangibleLeaseLiabilitiesGross" xlink:label="cto_IntangibleLeaseLiabilitiesGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IntangibleLeaseLiabilitiesGross" xlink:to="cto_IntangibleLeaseLiabilitiesGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IntangibleLeaseLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible lease liabilities, gross.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IntangibleLeaseLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Lease Liabilities Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="cto_IntangibleLeaseLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sub-total Intangible Lease Liabilities-Net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:label="us-gaap_BelowMarketLeaseAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:to="us-gaap_BelowMarketLeaseAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BelowMarketLeaseAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Below Market Lease, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BelowMarketLeaseAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Amortization</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill" xlink:to="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets liabilities net excluding goodwill.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Assets Liabilities Net Excluding Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Intangible Assets and Liabilities-Net</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BelowMarketLeasesMember" xlink:label="cto_BelowMarketLeasesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BelowMarketLeasesMember" xlink:to="cto_BelowMarketLeasesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BelowMarketLeasesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leases acquired as part of a real property acquisition at below market lease rate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BelowMarketLeasesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of Below Market In-Place Leases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:to="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived Intangible Assets Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase from acquisitions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncreaseDecreaseInIntangibleLeasingCost" xlink:label="cto_IncreaseDecreaseInIntangibleLeasingCost" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncreaseDecreaseInIntangibleLeasingCost" xlink:to="cto_IncreaseDecreaseInIntangibleLeasingCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncreaseDecreaseInIntangibleLeasingCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of increase (decrease) in leasing cost during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncreaseDecreaseInIntangibleLeasingCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Intangible Leasing Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncreaseDecreaseInIntangibleLeasingCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase from acquisitions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease" xlink:to="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Intangible Assets and Liabilities, Net, Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Intangible Assets and Liabilities, Net, Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilitiesNetIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net amortization increase (decrease)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease" xlink:to="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of increase (decrease) in carrying value of net assets and liabilities, excluding financial assets and goodwill, lacking physical substance with a finite life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Assets Liabilities, Net, Excluding Goodwill, Period Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IntangibleAssetsLiabilitiesNetExcludingGoodwillPeriodIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net increase in intangible assets and liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization Of Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization Expense</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AmortizationOfIntangibleAssetsAndLiabilities" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AmortizationOfIntangibleAssetsAndLiabilities" xlink:to="cto_AmortizationOfIntangibleAssetsAndLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets, net of amount of amortization of acquired leases acquired as part of a real property acquisition at below market lease rate with a finite life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization Of Intangible Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="cto_AmortizationOfIntangibleAssetsAndLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Amortization of Intangible Assets and Liabilities</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember" xlink:label="cto_LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember" xlink:to="cto_LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LeasesAcquiredInPlaceAndCostOfLeaseAgreementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information in the aggregate pertaining to the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property (excludes the market adjustment component of the value assigned for above or below-market leases acquired) and the cost of the contractual agreement that stipulates the lessee pay the lessor for use of an asset.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree" xlink:to="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets liabilities net future amortization year three.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Liabilities Net Future Amortization Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2024</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour" xlink:to="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets liabilities net future amortization year four.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Liabilities Net Future Amortization Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2025</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive" xlink:to="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets liabilities net future amortization year five.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Liabilities Net Future Amortization Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2026</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive" xlink:to="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets liabilities net future amortization after year five.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Liabilities Net Future Amortization After Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortizationAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2027 and Thereafter</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization" xlink:to="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets liabilities net future amortization.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Liabilities Net Future Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="cto_FiniteLivedIntangibleAssetsLiabilitiesNetFutureAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ImpairmentOfLongLivedAssetsTable" xlink:label="cto_ImpairmentOfLongLivedAssetsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ImpairmentOfLongLivedAssetsTable" xlink:to="cto_ImpairmentOfLongLivedAssetsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ImpairmentOfLongLivedAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosures about impairment of long-lived assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ImpairmentOfLongLivedAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of Long-Lived Assets [Table]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ImpairmentOfLongLivedAssetsLineItems" xlink:label="cto_ImpairmentOfLongLivedAssetsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ImpairmentOfLongLivedAssetsLineItems" xlink:to="cto_ImpairmentOfLongLivedAssetsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ImpairmentOfLongLivedAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ImpairmentOfLongLivedAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of Long-Lived Assets [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ImpairmentOfLongLivedAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of Long-Lived Assets</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TangerFactoryOutletCentersIncorporatedMember" xlink:label="cto_TangerFactoryOutletCentersIncorporatedMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TangerFactoryOutletCentersIncorporatedMember" xlink:to="cto_TangerFactoryOutletCentersIncorporatedMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TangerFactoryOutletCentersIncorporatedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents Tanger Factory Outlet Centers, Inc. (Tanger), a counterparty to certain contractual agreements with the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TangerFactoryOutletCentersIncorporatedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tanger</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SamSWestIncorporatedMember" xlink:label="cto_SamSWestIncorporatedMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SamSWestIncorporatedMember" xlink:to="cto_SamSWestIncorporatedMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SamSWestIncorporatedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents Sam's West, Inc. (Sam's Club), a counterparty to certain contractual agreements with the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SamSWestIncorporatedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sam's Club</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_UnusualOrInfrequentItemAxis" xlink:label="us-gaap_UnusualOrInfrequentItemAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnusualOrInfrequentItemAxis" xlink:to="us-gaap_UnusualOrInfrequentItemAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnusualOrInfrequentItemAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unusual or Infrequent Item, or Both [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_UnusualOrInfrequentItemDomain" xlink:label="us-gaap_UnusualOrInfrequentItemDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnusualOrInfrequentItemDomain" xlink:to="us-gaap_UnusualOrInfrequentItemDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnusualOrInfrequentItemDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unusual or Infrequent Item, or Both [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CovidNineteenMember" xlink:label="cto_CovidNineteenMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CovidNineteenMember" xlink:to="cto_CovidNineteenMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CovidNineteenMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to covid nineteen.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CovidNineteenMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">COVID-19</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="us-gaap_DeferredRentReceivablesNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRentReceivablesNet" xlink:to="us-gaap_DeferredRentReceivablesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRentReceivablesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Rent Receivables, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRentReceivablesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Straight-line Rent Adjustment and Covid-19 Deferral Balance</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Right-of-Use Asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Right-of-Use Asset</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:label="us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList" xlink:to="us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_GolfRoundsSurchargeReceivable" xlink:label="cto_GolfRoundsSurchargeReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_GolfRoundsSurchargeReceivable" xlink:to="cto_GolfRoundsSurchargeReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_GolfRoundsSurchargeReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying amount as of the balance sheet date of surcharge receivable on golf operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_GolfRoundsSurchargeReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Rounds Surcharge Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_GolfRoundsSurchargeReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golf Rounds Surcharge</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InfrastructureReimbursementReceivables" xlink:label="cto_InfrastructureReimbursementReceivables" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InfrastructureReimbursementReceivables" xlink:to="cto_InfrastructureReimbursementReceivables_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InfrastructureReimbursementReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure reimbursement receivables.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InfrastructureReimbursementReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InfrastructureReimbursementReceivables_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets" xlink:label="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets" xlink:to="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment in the future and amount of miscellaneous other assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid Expense, Deposits Assets and Miscellaneous Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_PrepaidExpenseDepositsAssetsAndMiscellaneousOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid Expenses, Deposits, and Other</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AlphineIncomeTrustIncReceivable" xlink:label="cto_AlphineIncomeTrustIncReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AlphineIncomeTrustIncReceivable" xlink:to="cto_AlphineIncomeTrustIncReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AlphineIncomeTrustIncReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of receivables from Alphine Income Trust Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AlphineIncomeTrustIncReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alphine Income Trust Inc, Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_AlphineIncomeTrustIncReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due from Alpine Income Property Trust, Inc.</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DeferredFinanceCostsNetRevolvingLineOfCredit" xlink:label="cto_DeferredFinanceCostsNetRevolvingLineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DeferredFinanceCostsNetRevolvingLineOfCredit" xlink:to="cto_DeferredFinanceCostsNetRevolvingLineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DeferredFinanceCostsNetRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs, Net, Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DeferredFinanceCostsNetRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs Net, Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DeferredFinanceCostsNetRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Costs, Net of Accumulated Amortization</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments" xlink:label="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments" xlink:to="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of installment payments of the infrastructure reimbursement receivable to be paid as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables, Number of Installment Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InfrastructureReimbursementReceivablesNumberOfInstallmentPayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of installments to repay infrastructure reimbursement receivable</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InfrastructureReimbursementReceivablesInstallmentAmount" xlink:label="cto_InfrastructureReimbursementReceivablesInstallmentAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InfrastructureReimbursementReceivablesInstallmentAmount" xlink:to="cto_InfrastructureReimbursementReceivablesInstallmentAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InfrastructureReimbursementReceivablesInstallmentAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of installments of the infrastructure reimbursement receivable to be paid over the term of the receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InfrastructureReimbursementReceivablesInstallmentAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables, Installment Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InfrastructureReimbursementReceivablesInstallmentAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure reimbursement receivables, installment payment amounts</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InfrastructureReimbursementReceivablesDiscount" xlink:label="cto_InfrastructureReimbursementReceivablesDiscount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InfrastructureReimbursementReceivablesDiscount" xlink:to="cto_InfrastructureReimbursementReceivablesDiscount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InfrastructureReimbursementReceivablesDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the discount on the infrastructure reimbursement receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InfrastructureReimbursementReceivablesDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure Reimbursement Receivables, Discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InfrastructureReimbursementReceivablesDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Infrastructure reimbursement receivable, discount</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTable" xlink:to="us-gaap_ScheduleOfStockByClassTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Stock by Class [Table]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_AtMarketOfferingProgramMember" xlink:label="cto_AtMarketOfferingProgramMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AtMarketOfferingProgramMember" xlink:to="cto_AtMarketOfferingProgramMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AtMarketOfferingProgramMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to "At the market offering program".</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_AtMarketOfferingProgramMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">At Market Offering Program</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_FollowOnPublicOfferingMember" xlink:label="cto_FollowOnPublicOfferingMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_FollowOnPublicOfferingMember" xlink:to="cto_FollowOnPublicOfferingMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_FollowOnPublicOfferingMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Follow on Public Offering.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_FollowOnPublicOfferingMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Follow on Public Offering</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="us-gaap_ClassOfStockLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockLineItems" xlink:to="us-gaap_ClassOfStockLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SharesAuthorized" xlink:label="cto_SharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SharesAuthorized" xlink:to="cto_SharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The maximum aggregate offering price of potential issuance of its common stock, preferred stock, debt securities, warrants, rights, and units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate offering price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total net proceeds</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockRedemptionPricePerShare" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockRedemptionPricePerShare" xlink:to="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockRedemptionPricePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred stock, redemption price per share</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="us-gaap_SeriesAPreferredStockMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesAPreferredStockMember" xlink:to="us-gaap_SeriesAPreferredStockMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Series A Preferred Stock</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts" xlink:label="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts" xlink:to="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Preferred Stock and Preference Stock, Net of Stock Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Preferred Stock and Preference Stock, Net of Stock Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ProceedsFromIssuanceOfPreferredStockAndPreferenceStockNetOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Proceeds</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockDividendsPerShareDeclared" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendsPerShareDeclared" xlink:to="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Dividends Per Share, Declared</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend per Share</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionPaidCash" xlink:label="cto_SpecialDistributionPaidCash" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SpecialDistributionPaidCash" xlink:to="cto_SpecialDistributionPaidCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionPaidCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Paid, Cash.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionPaidCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Paid, Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SpecialDistributionPaidCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special distribution paid in cash</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionPaidShares" xlink:label="cto_SpecialDistributionPaidShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SpecialDistributionPaidShares" xlink:to="cto_SpecialDistributionPaidShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionPaidShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Paid, Shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionPaidShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Paid, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SpecialDistributionPaidShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special distribution paid in shares</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:to="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Dividends, Per Share, Cash Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash dividends paid and declared (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="us-gaap_DividendsCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCommonStock" xlink:to="us-gaap_DividendsCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends, Common Stock</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionDividendsPerShareCashPaid" xlink:label="cto_SpecialDistributionDividendsPerShareCashPaid" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SpecialDistributionDividendsPerShareCashPaid" xlink:to="cto_SpecialDistributionDividendsPerShareCashPaid_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution, Dividends, Per Share, Cash Paid.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution, Dividends, Per Share, Cash Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SpecialDistributionDividendsPerShareCashPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special distribution (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SpecialDistributionPayable" xlink:label="cto_SpecialDistributionPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_SpecialDistributionPayable" xlink:to="cto_SpecialDistributionPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SpecialDistributionPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Payable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SpecialDistributionPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Special Distribution Payable</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ConvertibleSeniorNotes4.5PercentDue2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Senior borrowing at an interest rate of 4.5 percent which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock, due in 2020.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ConvertibleSeniorNotes4.5PercentDue2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">4.50% Convertible Senior Notes due 2020</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Anti-dilutive securities (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfTreasuryStockTable" xlink:label="us-gaap_ClassOfTreasuryStockTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfTreasuryStockTable" xlink:to="us-gaap_ClassOfTreasuryStockTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfTreasuryStockTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Class of Treasury Stock [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis" xlink:label="us-gaap_ShareRepurchaseProgramAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramAxis" xlink:to="us-gaap_ShareRepurchaseProgramAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Repurchase Program [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareRepurchaseProgramDomain" xlink:label="us-gaap_ShareRepurchaseProgramDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramDomain" xlink:to="us-gaap_ShareRepurchaseProgramDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Repurchase Program [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_StockRepurchaseProgramFebruary2020Member" xlink:label="cto_StockRepurchaseProgramFebruary2020Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_StockRepurchaseProgramFebruary2020Member" xlink:to="cto_StockRepurchaseProgramFebruary2020Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_StockRepurchaseProgramFebruary2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchase Program, February 2020 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_StockRepurchaseProgramFebruary2020Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchase Program, February 2020</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityClassOfTreasuryStockLineItems" xlink:label="us-gaap_EquityClassOfTreasuryStockLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityClassOfTreasuryStockLineItems" xlink:to="us-gaap_EquityClassOfTreasuryStockLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityClassOfTreasuryStockLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity, Class of Treasury Stock [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityClassOfTreasuryStockLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchase Program, Authorized Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock repurchase program authorized amount</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="us-gaap_TreasuryStockSharesAcquired" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAcquired" xlink:to="us-gaap_TreasuryStockSharesAcquired_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, Shares, Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares repurchased (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock Acquired, Average Cost Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Average price per share of stock repurchased</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:label="us-gaap_TreasuryStockRetiredCostMethodAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:to="us-gaap_TreasuryStockRetiredCostMethodAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockRetiredCostMethodAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Treasury Stock, Retired, Cost Method, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockRetiredCostMethodAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of treasury shares retired</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_WellsFargoFirstMortgageLoan30September2014Member" xlink:label="cto_WellsFargoFirstMortgageLoan30September2014Member" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_WellsFargoFirstMortgageLoan30September2014Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Fargo Mortgage Note Payable Originated September 30, 2014</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_WellsFargoFirstMortgageLoan15April2016Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the first mortgage loan originated with Wells Fargo on April 15, 2016.</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CreditRevolverAmendment2021Member" xlink:label="cto_CreditRevolverAmendment2021Member" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CreditRevolverAmendment2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to credit facility inclusive of term loan, 2021 revolver amendment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CreditRevolverAmendment2021Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Revolver Amendment 2021</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentySixTermLoanMember" xlink:label="cto_TwoThousandTwentySixTermLoanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentySixTermLoanMember" xlink:to="cto_TwoThousandTwentySixTermLoanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentySixTermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to two thousand twenty six term loan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentySixTermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2026 Term Loan</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentyFiveNotesMember" xlink:label="cto_TwoThousandTwentyFiveNotesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentyFiveNotesMember" xlink:to="cto_TwoThousandTwentyFiveNotesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentyFiveNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to two thousand twenty five notes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentyFiveNotesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2025 Notes</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentySevenTermLoanMember" xlink:label="cto_TwoThousandTwentySevenTermLoanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentySevenTermLoanMember" xlink:to="cto_TwoThousandTwentySevenTermLoanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentySevenTermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to two thousand twenty seven term loan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentySevenTermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2027 Term loan</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_CreditFacilityAndSubsequentDrawMember" xlink:label="cto_CreditFacilityAndSubsequentDrawMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_CreditFacilityAndSubsequentDrawMember" xlink:to="cto_CreditFacilityAndSubsequentDrawMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_CreditFacilityAndSubsequentDrawMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to credit facility and subsequent draw.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_CreditFacilityAndSubsequentDrawMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility and Subsequent Draw</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="us-gaap_VariableRateAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateAxis" xlink:to="us-gaap_VariableRateAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Rate [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="us-gaap_VariableRateDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateDomain" xlink:to="us-gaap_VariableRateDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Rate [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LIBOR</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Basis Spread on Variable Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Margin added to variable rate basis (as a percent)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncreaseDecreaseInLongTermDebt" xlink:label="cto_IncreaseDecreaseInLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncreaseDecreaseInLongTermDebt" xlink:to="cto_IncreaseDecreaseInLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncreaseDecreaseInLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of increase (decrease) in long term debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncreaseDecreaseInLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) In Long Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_IncreaseDecreaseInLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (decrease) in long term debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="us-gaap_ProceedsFromLinesOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLinesOfCredit" xlink:to="us-gaap_ProceedsFromLinesOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Lines of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from line of credit</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="us-gaap_DerivativeFixedInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeFixedInterestRate" xlink:to="us-gaap_DerivativeFixedInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeFixedInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative, Fixed Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeFixedInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative fixed interest rate (as a percent)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DerivativeFixedInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fixed interest rate through use of derivative (as a percent)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilities" xlink:to="us-gaap_DerivativeLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivatives fixed interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DerivativeLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash Flow Hedge - Interest Rate Swap</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term debt</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="us-gaap_DebtWeightedAverageInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtWeightedAverageInterestRate" xlink:to="us-gaap_DebtWeightedAverageInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtWeightedAverageInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average fixed interest rate</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LineOfCreditFacilityExtensionPeriod" xlink:label="cto_LineOfCreditFacilityExtensionPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LineOfCreditFacilityExtensionPeriod" xlink:to="cto_LineOfCreditFacilityExtensionPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LineOfCreditFacilityExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line Of Credit Facility Extension Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LineOfCreditFacilityExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line Of Credit Facility Extension Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LineOfCreditFacilityExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Extension term</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity" xlink:label="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity" xlink:to="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate borrowing capacity under the credit facility, consisting of the maximum borrowing capacity plus the contingent increase, if any one or more of the existing banks or new banks agree to provide such increased commitment amount.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility Contingent Increase, Aggregate Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum borrowing capacity, after possible increase</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:to="us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitment fee percentage on unused portion of the borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee" xlink:label="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee" xlink:to="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of credit facility unused capacity percentage used as benchmark for commitment fee.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line Of Credit Facility Unused Capacity Percentage Used As Benchmark For Commitment Fee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LineOfCreditFacilityUnusedCapacityPercentageUsedAsBenchmarkForCommitmentFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unused portion of the borrowing capacity fee percentage condition</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Remaining Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Available borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount outstanding</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Current Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity" xlink:label="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity" xlink:to="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate borrowing capacity under the credit facility including the accordion feature options that allows the company to request additional commitments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Accordion Feature, Aggregate Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_LineOfCreditFacilityAccordionFeatureAggregateMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate borrowing capacity, additional commitments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConvertibleDebtMember" xlink:label="us-gaap_ConvertibleDebtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebtMember" xlink:to="us-gaap_ConvertibleDebtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertibleDebtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Convertible Debt</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member" xlink:label="cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member" xlink:to="cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Two Thousand Twenty Five Notes Maturing on April 15 2025 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TwoThousandTwentyFiveNotesMaturingOnApril152025Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2025 Notes maturing on April 15, 2025</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:to="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Convertible, Conversion Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleConversionRatio1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt instrument conversion ratio</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:to="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Convertible, Conversion Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleConversionPrice1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Conversion price per share (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock" xlink:label="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock" xlink:to="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the denomination of the principal amount of debt that is used in conversion calculations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument Principal Amount Denomination For Conversion Into Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Threshold principal amount for adjusted conversion price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Dividends, Per Share, Declared</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends Declared and Paid - Common Stock (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger" xlink:label="us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger" xlink:to="us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Premium initial conversion price</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentCumulativeSinkingFundPayments" xlink:label="us-gaap_DebtInstrumentCumulativeSinkingFundPayments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCumulativeSinkingFundPayments" xlink:to="us-gaap_DebtInstrumentCumulativeSinkingFundPayments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCumulativeSinkingFundPayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Cumulative Sinking Fund Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCumulativeSinkingFundPayments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sinking fund provided</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Unamortized Discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unamortized Discount on Convertible Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unamortized debt discount of notes</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Private Placement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from private placement</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentRepurchaseAmount" xlink:label="us-gaap_DebtInstrumentRepurchaseAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentRepurchaseAmount" xlink:to="us-gaap_DebtInstrumentRepurchaseAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentRepurchaseAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Repurchase Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentRepurchaseAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repurchase of notes</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit" xlink:label="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit" xlink:to="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs, Net, Excluding Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs, Net, Excluding Revolving Line of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Costs, net of accumulated amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DeferredFinanceCostsNetExcludingRevolvingLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred financing costs, net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtCurrentAbstract" xlink:label="us-gaap_LongTermDebtCurrentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtCurrentAbstract" xlink:to="us-gaap_LongTermDebtCurrentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Current Maturities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term debt due within one year</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DebtInstrumentCarryingAmountCurrent" xlink:label="cto_DebtInstrumentCarryingAmountCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DebtInstrumentCarryingAmountCurrent" xlink:to="cto_DebtInstrumentCarryingAmountCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DebtInstrumentCarryingAmountCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DebtInstrumentCarryingAmountCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Carrying Amount, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DebtInstrumentCarryingAmountCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due Within One Year</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtCurrent" xlink:to="us-gaap_LongTermDebtCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Current Maturities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Due Within One Year</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Fiscal Year Maturity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments applicable to reduction of principal amounts</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2023</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2025</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2026</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal after Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2027 and thereafter</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestExpenseDebtExcludingAmortization" xlink:label="us-gaap_InterestExpenseDebtExcludingAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebtExcludingAmortization" xlink:to="us-gaap_InterestExpenseDebtExcludingAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseDebtExcludingAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Expense, Debt, Excluding Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseDebtExcludingAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest expense</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebt" xlink:to="us-gaap_InterestExpenseDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Expense, Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Interest Expense</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeTable" xlink:label="us-gaap_DerivativeTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeTable" xlink:to="us-gaap_DerivativeTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_HedgingDesignationAxis" xlink:label="us-gaap_HedgingDesignationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationAxis" xlink:to="us-gaap_HedgingDesignationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HedgingDesignationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Hedging Designation [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="us-gaap_HedgingDesignationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationDomain" xlink:to="us-gaap_HedgingDesignationDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HedgingDesignationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Hedging Designation [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DesignatedAsHedgingInstrumentMember" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Designated as a hedge</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DerivativeLineItems" xlink:label="us-gaap_DerivativeLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLineItems" xlink:to="us-gaap_DerivativeLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Derivative [Line Items]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_InterestRateCashFlowHedgeEffectivenessPercentage" xlink:label="cto_InterestRateCashFlowHedgeEffectivenessPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_InterestRateCashFlowHedgeEffectivenessPercentage" xlink:to="cto_InterestRateCashFlowHedgeEffectivenessPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_InterestRateCashFlowHedgeEffectivenessPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The percentage of effectiveness of interest rate cash flow hedges during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_InterestRateCashFlowHedgeEffectivenessPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Rate Cash Flow Hedge Effectiveness Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_InterestRateCashFlowHedgeEffectivenessPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Effectiveness of interest rate cash flow hedge (as a percent)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestRateCashFlowHedgeAssetAtFairValue" xlink:label="us-gaap_InterestRateCashFlowHedgeAssetAtFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateCashFlowHedgeAssetAtFairValue" xlink:to="us-gaap_InterestRateCashFlowHedgeAssetAtFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateCashFlowHedgeAssetAtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Rate Cash Flow Hedge Asset at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestRateCashFlowHedgeAssetAtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value of interest rate swap agreement to hedge cash flows, assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:to="us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Rate Cash Flow Hedge Liability at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value of interest rate swap agreement to hedge cash flows, liabilities</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:to="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrual for Taxes Other than Income Taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued Property Taxes</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ReserveForTenantImprovements" xlink:label="cto_ReserveForTenantImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ReserveForTenantImprovements" xlink:to="cto_ReserveForTenantImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ReserveForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of reserve for tenant improvements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ReserveForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reserve for Tenant Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ReserveForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reserve for Tenant Improvements</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TenantSecurityDeposits" xlink:label="cto_TenantSecurityDeposits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TenantSecurityDeposits" xlink:to="cto_TenantSecurityDeposits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TenantSecurityDeposits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant Security Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TenantSecurityDeposits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant Security Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_TenantSecurityDeposits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant Security Deposits</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConstructionPayableCurrentAndNoncurrent" xlink:label="us-gaap_ConstructionPayableCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionPayableCurrentAndNoncurrent" xlink:to="us-gaap_ConstructionPayableCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConstructionPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued Construction Costs</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestPayableCurrentAndNoncurrent" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="us-gaap_InterestPayableCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deposit Liabilities, Accrued Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued Interest</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EnvironmentalExitCostsCostsAccruedToDate" xlink:label="us-gaap_EnvironmentalExitCostsCostsAccruedToDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EnvironmentalExitCostsCostsAccruedToDate" xlink:to="us-gaap_EnvironmentalExitCostsCostsAccruedToDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EnvironmentalExitCostsCostsAccruedToDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Exit Costs, Costs Accrued to Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EnvironmentalExitCostsCostsAccruedToDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Reserve</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="us-gaap_OperatingLeaseLiability" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases - Liability</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:label="us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList" xlink:to="us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SiteContingencyTable" xlink:label="us-gaap_SiteContingencyTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SiteContingencyTable" xlink:to="us-gaap_SiteContingencyTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SiteContingencyTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Site Contingency [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EnvironmentalRemediationContingencyAxis" xlink:label="us-gaap_EnvironmentalRemediationContingencyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EnvironmentalRemediationContingencyAxis" xlink:to="us-gaap_EnvironmentalRemediationContingencyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EnvironmentalRemediationContingencyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Remediation Contingency [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EnvironmentalRemediationContingencyDomain" xlink:label="us-gaap_EnvironmentalRemediationContingencyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EnvironmentalRemediationContingencyDomain" xlink:to="us-gaap_EnvironmentalRemediationContingencyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EnvironmentalRemediationContingencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Remediation Contingency [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember" xlink:label="cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember" xlink:to="cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to the environmental reserve for costs associated with monitoring land on which environmental remediation work had previously been performed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_EnvironmentalReserveForMonitoringEnvironmentalRemediationWorkPreviouslyPerformedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Reserve for Monitoring Environmental Remediation Work Previously Performed</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SiteContingencyLineItems" xlink:label="us-gaap_SiteContingencyLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SiteContingencyLineItems" xlink:to="us-gaap_SiteContingencyLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SiteContingencyLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Site Contingency [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SiteContingencyLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental reserves</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_TenantImprovementAllowancesAndLeasingCommissions" xlink:label="cto_TenantImprovementAllowancesAndLeasingCommissions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_TenantImprovementAllowancesAndLeasingCommissions" xlink:to="cto_TenantImprovementAllowancesAndLeasingCommissions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_TenantImprovementAllowancesAndLeasingCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of tenant improvement allowances and leasing commissions received.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_TenantImprovementAllowancesAndLeasingCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant Improvement Allowances and Leasing Commissions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_TenantImprovementAllowancesAndLeasingCommissions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant improvement allowances and leasing commissions</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements" xlink:label="us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements" xlink:to="us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Leasing Costs, Commissions, and Tenant Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsForLeasingCostsCommissionsAndTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payment of tenant improvement allowances and leasing commissions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RemainingLeaseCommitments" xlink:label="cto_RemainingLeaseCommitments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RemainingLeaseCommitments" xlink:to="cto_RemainingLeaseCommitments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RemainingLeaseCommitments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of tenant remaining commitment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RemainingLeaseCommitments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining Lease Commitments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RemainingLeaseCommitments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining reserve for tenant improvements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates" xlink:to="us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrual for Environmental Loss Contingencies, Revision in Estimates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additional environmental reserve accrued</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EnvironmentalExitCostsAnticipatedCost" xlink:label="us-gaap_EnvironmentalExitCostsAnticipatedCost" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EnvironmentalExitCostsAnticipatedCost" xlink:to="us-gaap_EnvironmentalExitCostsAnticipatedCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EnvironmentalExitCostsAnticipatedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental Exit Costs, Anticipated Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EnvironmentalExitCostsAnticipatedCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingenciesPayments1" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesPayments1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccrualForEnvironmentalLossContingenciesPayments1" xlink:to="us-gaap_AccrualForEnvironmentalLossContingenciesPayments1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesPayments1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrual for Environmental Loss Contingencies, Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesPayments1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental costs funded</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingencies" xlink:label="us-gaap_AccrualForEnvironmentalLossContingencies" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccrualForEnvironmentalLossContingencies" xlink:to="us-gaap_AccrualForEnvironmentalLossContingencies_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccrualForEnvironmentalLossContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrual for Environmental Loss Contingencies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccrualForEnvironmentalLossContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Environmental reserve accrued</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdvanceRent" xlink:label="us-gaap_AdvanceRent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvanceRent" xlink:to="us-gaap_AdvanceRent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdvanceRent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Advance Rent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdvanceRent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid Rent</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DeferredTenantContribution" xlink:label="cto_DeferredTenantContribution" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DeferredTenantContribution" xlink:to="cto_DeferredTenantContribution_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DeferredTenantContribution_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of deferred revenues classified as contribution from tenant.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DeferredTenantContribution_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Tenant Contribution</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DeferredTenantContribution_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant Contributions</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DeferredRevenuesOther" xlink:label="cto_DeferredRevenuesOther" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DeferredRevenuesOther" xlink:to="cto_DeferredRevenuesOther_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DeferredRevenuesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of deferred revenues classified as other.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DeferredRevenuesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenues Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DeferredRevenuesOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Deferred Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Award [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PerformanceSharesMember" xlink:label="us-gaap_PerformanceSharesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformanceSharesMember" xlink:to="us-gaap_PerformanceSharesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PerformanceSharesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Performance Shares</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedStockMember" xlink:to="us-gaap_RestrictedStockMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Option [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonvested (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonvested (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Granted (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vested (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vested / Exercised (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of equity-based payment instruments, excluding stock (or unit) options, that expired during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expired in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expired (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forfeited (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forfeited (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Payment Arrangement, Plan Modification, Incremental Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Incremental compensation cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Granted (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vested / Exercised Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Exercised (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options and Nonvested Equity Instruments Other than Options, Outstanding [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndNonvestedEquityInstrumentsOtherThanOptionsOutstandingRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate number of outstanding options, including both vested and non-vested options, and non-vested equity-based payment instruments other than options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award Outstanding Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Outstanding (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate gross number of share options and equity-based payment instruments other than options granted during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period, Gross</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Combined number of share options exercised and equity-based payment instruments other than options vested during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options Exercised and Equity Instruments Other than Options Vested in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedAndEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vested / Exercised (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Combined number of options for which the right to exercise has lapsed and equity-based payment instruments other than options that expired under the terms of the plan agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Expired in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardExpiredInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expired (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate number of options and equity-based payment instruments other than options that were forfeited during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Forfeited in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forfeited (in shares)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Attributable to Equitable Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Attributable to Equitable Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAttributableToEquitableAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of shares attributable to Equitable Adjustment (in shares)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allocated Share-based Compensation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Cost of Share-Based Plans Charged Against Income Before Tax Effect</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Tax Expense Recognized in Income</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vesting percentage</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vesting period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Performance period</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Fair Value</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonvested (in dollars per share)</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Granted (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Vested (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unrecognized compensation cost</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average period of recognition of unrecognized compensation cost</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember" xlink:to="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation, Award Stock Price Vesting Price Increment One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementOneMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Award Stock Price Vesting Price Increment One</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember" xlink:to="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Share Based Compensation Award Stock Price Vesting Price Increment Two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementTwoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Award Stock Price Vesting Price Increment Two</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember" xlink:to="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining Share Based Compensation Award Stock Price Vesting Price Increment Three.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationAwardStockPriceVestingPriceIncrementThreeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Award Stock Price Vesting Price Increment Three</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_TitleOfIndividualAxis" xlink:label="srt_TitleOfIndividualAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_TitleOfIndividualAxis" xlink:to="srt_TitleOfIndividualAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_TitleOfIndividualAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Title of Individual [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="srt_TitleOfIndividualWithRelationshipToEntityDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_TitleOfIndividualWithRelationshipToEntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Relationship to Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ChiefExecutiveOfficerMember" xlink:label="srt_ChiefExecutiveOfficerMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ChiefExecutiveOfficerMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mr Albright [Member]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod" xlink:label="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod" xlink:to="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted share award employee benefit termination period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Share Award Employee Benefit Termination Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RestrictedShareAwardEmployeeBenefitTerminationPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted share award period after termination of employment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the period of stock closing prices used to determine an average closing price for vesting of a share based payment award.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award, Period for Average Stock Closing Price for Vesting</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodForAverageStockClosingPriceForVesting_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Period for average closing price</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement" xlink:to="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of equity-based payment instruments, excluding stock (or unit) options, that are in each vesting increment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNumberOfSharesInEachVestingIncrement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number of Shares in Each Vesting Increment</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" xlink:label="us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EquityBasedArrangementsIndividualContractsTypeOfDeferredCompensationDomain" xlink:label="us-gaap_EquityBasedArrangementsIndividualContractsTypeOfDeferredCompensationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityBasedArrangementsIndividualContractsTypeOfDeferredCompensationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_EquityAwardAgreementsIndividualContractsMember" xlink:label="cto_EquityAwardAgreementsIndividualContractsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_EquityAwardAgreementsIndividualContractsMember" xlink:to="cto_EquityAwardAgreementsIndividualContractsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_EquityAwardAgreementsIndividualContractsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information in the aggregate pertaining to Equity Award Agreements of certain individuals.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_EquityAwardAgreementsIndividualContractsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Award Agreements</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPercentagePerYear" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPercentagePerYear" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPercentagePerYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the percentage of stock awards vesting each year.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPercentagePerYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Percentage Per Year</label>
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    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_NonQualifiedStockOptionAwardsMember" xlink:label="cto_NonQualifiedStockOptionAwardsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_NonQualifiedStockOptionAwardsMember" xlink:to="cto_NonQualifiedStockOptionAwardsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_NonQualifiedStockOptionAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-qualified stock option awards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_NonQualifiedStockOptionAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-Qualified Stock Option Awards</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Exercisable (in shares)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Remaining Contractual Term</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock-based compensation</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Effective income tax rate (as a percent)</label>
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseLiabilitiesPaymentsDueAbstract" xlink:label="us-gaap_OperatingLeaseLiabilitiesPaymentsDueAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2022</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lessee, Operating Lease, Liability, Payments, Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorDisclosureAbstract" xlink:label="us-gaap_LessorDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorDisclosureAbstract" xlink:to="us-gaap_LessorDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leases, Operating [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating leases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="us-gaap_OperatingLeaseExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseExpense" xlink:to="us-gaap_OperatingLeaseExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Lease, Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rental expense under all operating leases</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherCommitmentsTable" xlink:label="us-gaap_OtherCommitmentsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsTable" xlink:to="us-gaap_OtherCommitmentsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Commitments [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainContingenciesByNatureAxis" xlink:label="us-gaap_GainContingenciesByNatureAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingenciesByNatureAxis" xlink:to="us-gaap_GainContingenciesByNatureAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainContingenciesByNatureAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain Contingencies, Nature [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainContingencyNatureDomain" xlink:label="us-gaap_GainContingencyNatureDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainContingencyNatureDomain" xlink:to="us-gaap_GainContingencyNatureDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainContingencyNatureDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain Contingency, Nature [Domain]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember" xlink:label="cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember" xlink:to="cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Complaint for Declaratory Relief Against Buc-ee's Ltd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ComplaintForDeclaratoryReliefAgainstBucEesLtdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Complaint for Declaratory Relief Against Buc-ee's Ltd</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherCommitmentsLineItems" xlink:label="us-gaap_OtherCommitmentsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsLineItems" xlink:to="us-gaap_OtherCommitmentsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Commitments [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EscrowDeposit" xlink:label="us-gaap_EscrowDeposit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EscrowDeposit" xlink:to="us-gaap_EscrowDeposit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EscrowDeposit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Escrow Deposit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EscrowDeposit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash deposited related to improvements</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_EscrowFundsReceived" xlink:label="cto_EscrowFundsReceived" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_EscrowFundsReceived" xlink:to="cto_EscrowFundsReceived_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_EscrowFundsReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of escrow funds received during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_EscrowFundsReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Escrow Funds Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_EscrowFundsReceived_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Escrow funds received</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ContractualObligation" xlink:label="us-gaap_ContractualObligation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualObligation" xlink:to="us-gaap_ContractualObligation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractualObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contractual Obligation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ContractualObligation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Commitment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RemainingContractualCommitment" xlink:label="cto_RemainingContractualCommitment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RemainingContractualCommitment" xlink:to="cto_RemainingContractualCommitment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RemainingContractualCommitment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of remaining contractual commitment as at the end of the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RemainingContractualCommitment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining Contractual Commitment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RemainingContractualCommitment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining Commitment</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Segment Reporting Information, by Segment [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProductConcentrationRiskMember" xlink:label="us-gaap_ProductConcentrationRiskMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductConcentrationRiskMember" xlink:to="us-gaap_ProductConcentrationRiskMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProductConcentrationRiskMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Product concentration</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsTotalMember" xlink:label="us-gaap_AssetsTotalMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsTotalMember" xlink:to="us-gaap_AssetsTotalMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsTotalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Identifiable Assets [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="us-gaap_SegmentReportingInformationLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment Reporting Information [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business segment data</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NumberOfOperatingSegments" xlink:label="us-gaap_NumberOfOperatingSegments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Operating Segments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of operating segment</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandOperationsSegmentMember" xlink:label="cto_LandOperationsSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandOperationsSegmentMember" xlink:to="cto_LandOperationsSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandOperationsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Operations Segment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandOperationsSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Real Estate Operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="srt_ConsolidationItemsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationItemsAxis" xlink:to="srt_ConsolidationItemsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationItemsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation Items [Axis]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="srt_ConsolidationItemsDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationItemsDomain" xlink:to="srt_ConsolidationItemsDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationItemsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation Items [Domain]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="us-gaap_OperatingSegmentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingSegmentsMember" xlink:to="us-gaap_OperatingSegmentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingSegmentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Segments</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="us-gaap_CorporateNonSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CorporateNonSegmentMember" xlink:to="us-gaap_CorporateNonSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CorporateNonSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">General and Corporate Expense</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandJVAssetsMember" xlink:label="cto_LandJVAssetsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandJVAssetsMember" xlink:to="cto_LandJVAssetsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandJVAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land J V Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandJVAssetsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land JV Assets</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_LandJvLiabilitiesMember" xlink:label="cto_LandJvLiabilitiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_LandJvLiabilitiesMember" xlink:to="cto_LandJvLiabilitiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_LandJvLiabilitiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land JV Liabilities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_LandJvLiabilitiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land JV Liabilities</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertiesMember" xlink:label="cto_IncomePropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertiesMember" xlink:to="cto_IncomePropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Properties.</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets held for sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Property, Plant and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant, and Equipment-Net</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash" xlink:label="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash" xlink:to="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Restricted Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Restricted Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_DisposalGroupIncludingDiscontinuedOperationRestrictedCash_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Cash</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible Lease Assets - Net</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities held for sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Deferred Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationDeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_BucEesEastOfInterstateNinetyFiveMember" xlink:label="cto_BucEesEastOfInterstateNinetyFiveMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_BucEesEastOfInterstateNinetyFiveMember" xlink:to="cto_BucEesEastOfInterstateNinetyFiveMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_BucEesEastOfInterstateNinetyFiveMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the Buc'ees property east of Interstate 95.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_BucEesEastOfInterstateNinetyFiveMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buc'ees - East of I-95</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalizedContractCostNet" xlink:label="us-gaap_CapitalizedContractCostNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedContractCostNet" xlink:to="us-gaap_CapitalizedContractCostNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizedContractCostNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Capitalized Contract Cost, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalizedContractCostNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Escrow reserve</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_DiscontinuedOperationsLandOperationsMember" xlink:label="cto_DiscontinuedOperationsLandOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_DiscontinuedOperationsLandOperationsMember" xlink:to="cto_DiscontinuedOperationsLandOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_DiscontinuedOperationsLandOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the land operations business segment of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_DiscontinuedOperationsLandOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land Operation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember" xlink:label="us-gaap_DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember" xlink:to="us-gaap_DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DiscontinuedOperationsHeldforsaleMember" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationsHeldforsaleMember" xlink:to="us-gaap_DiscontinuedOperationsHeldforsaleMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations, Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations, Held-for-sale</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Costs of Goods Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cost of Revenues</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Gross Profit (Loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss from Operations</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax" xlink:label="us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax" xlink:to="us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on Disposition of Assets</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax" xlink:to="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (Loss) from Discontinued Operations Before Income Tax</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="us-gaap_SubsequentEventTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTable" xlink:to="us-gaap_SubsequentEventTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Table]</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConstructionLoansMember" xlink:label="us-gaap_ConstructionLoansMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionLoansMember" xlink:to="us-gaap_ConstructionLoansMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionLoansMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Loan</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="us-gaap_SubsequentEventLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventLineItems" xlink:to="us-gaap_SubsequentEventLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Events</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongtermConstructionLoanCurrentAndNoncurrent" xlink:label="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent" xlink:to="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Construction Loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermConstructionLoanCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loan amount</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_ConstructionLoanExtensionPeriod" xlink:label="cto_ConstructionLoanExtensionPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_ConstructionLoanExtensionPeriod" xlink:to="cto_ConstructionLoanExtensionPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_ConstructionLoanExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Loan, Extension Period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_ConstructionLoanExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Loan, Extension Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_ConstructionLoanExtensionPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Extension period (in years)</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoanProcessingFee" xlink:label="us-gaap_LoanProcessingFee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoanProcessingFee" xlink:to="us-gaap_LoanProcessingFee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoanProcessingFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loan Processing Fee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoanProcessingFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Origination fee</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:label="srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:to="srt_RealEstateAndAccumulatedDepreciationByPropertyTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationByPropertyTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, by Property [Table]</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember" xlink:label="cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember" xlink:to="cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Riverside Avenue, Jacksonville, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyRiversideAvenueJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Riverside Avenue, Jacksonville, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember" xlink:label="cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember" xlink:to="cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Westcliff Shopping Center, Fort Worth, Texas [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyWestcliffShoppingCenterFortWorthTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Westcliff Shopping Center, Fort Worth, Texas</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember" xlink:label="cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember" xlink:to="cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Chuy's Restaurant and Bar, Jacksonville, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantChuysRestaurantAndBarJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Chuy's Restaurant and Bar, Jacksonville, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember" xlink:label="cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember" xlink:to="cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Crabby's Restaurant, Daytona Beach, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyCrabbysRestaurantDaytonaBeachFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Crabby's Restaurant, Daytona Beach, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember" xlink:label="cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember" xlink:to="cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, General Dynamic's Corporation, Reston, Virginia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyGeneralDynamicsCorporationRestonVirginiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, General Dynamics Corporation, Reston, Virginia</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember" xlink:label="cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember" xlink:to="cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Fidelity Investments (affiliate of), Albuquerque, New Mexico [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantFidelityInvestmentsAffiliateOfAlbuquerqueNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Fidelity Investments (affiliate of), Albuquerque, New Mexico</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember" xlink:label="cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember" xlink:to="cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Firebirds Wood Fired Grill, Jacksonville, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySingleTenantFirebirdsWoodFiredGrillJacksonvilleFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Single-tenant, Firebirds Wood Fired Grill, Jacksonville, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember" xlink:label="cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember" xlink:to="cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, LandShark Bar and Grill, Daytona Beach, Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyLandsharkBarAndGrillDaytonaBeachFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, LandShark Bar and Grill, Daytona Beach, Florida</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember" xlink:label="cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember" xlink:to="cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Party City Corporation, Oceanside, New York [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyPartyCityCorporationOceansideNewYorkMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property, Party City Corporation, Oceanside, New York</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyBeaverCreekApexNorthCarolinaMember" xlink:label="cto_IncomePropertyBeaverCreekApexNorthCarolinaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyBeaverCreekApexNorthCarolinaMember" xlink:to="cto_IncomePropertyBeaverCreekApexNorthCarolinaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyBeaverCreekApexNorthCarolinaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Beaver Creek, Apex, North Carolina member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyBeaverCreekApexNorthCarolinaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Beaver Creek, Apex, North Carolina</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyEasternCommonsHendersonNevadaMember" xlink:label="cto_IncomePropertyEasternCommonsHendersonNevadaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyEasternCommonsHendersonNevadaMember" xlink:to="cto_IncomePropertyEasternCommonsHendersonNevadaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyEasternCommonsHendersonNevadaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Eastern Commons, Henderson, Nevada Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyEasternCommonsHendersonNevadaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Eastern Commons, Henderson, Nevada</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember" xlink:label="cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember" xlink:to="cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Exchange at Gwinnett, Buford, Georgia Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyExchangeAtGwinnettBufordGeorgiaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Exchange at Gwinnett, Buford, Georgia</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyJordanLandingWestJordanUtahMember" xlink:label="cto_IncomePropertyJordanLandingWestJordanUtahMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyJordanLandingWestJordanUtahMember" xlink:to="cto_IncomePropertyJordanLandingWestJordanUtahMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyJordanLandingWestJordanUtahMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Jordan Landing, West Jordan, Utah Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyJordanLandingWestJordanUtahMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Jordan Landing, West Jordan, Utah</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertyShopsAtLegacyPlanoTexasMember" xlink:label="cto_IncomePropertyShopsAtLegacyPlanoTexasMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertyShopsAtLegacyPlanoTexasMember" xlink:to="cto_IncomePropertyShopsAtLegacyPlanoTexasMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertyShopsAtLegacyPlanoTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Shops at Legacy, Plano, Texas Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertyShopsAtLegacyPlanoTexasMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Shops at Legacy, Plano, Texas</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember" xlink:label="cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember" xlink:to="cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property 120 Lincoln &amp; 150 Washington, Santa Fe, New Mexico Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomeProperty120Lincoln150WashingtonSantaFeNewMexicoMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property 120 Lincoln &amp; 150 Washington, Santa Fe, New Mexico</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_IncomePropertySynovusWinterParkFloridaMember" xlink:label="cto_IncomePropertySynovusWinterParkFloridaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_IncomePropertySynovusWinterParkFloridaMember" xlink:to="cto_IncomePropertySynovusWinterParkFloridaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_IncomePropertySynovusWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Synovus, Winter Park, Florida Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_IncomePropertySynovusWinterParkFloridaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Property Synovus, Winter Park, Florida</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:label="srt_RealEstateAndAccumulatedDepreciationLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:to="srt_RealEstateAndAccumulatedDepreciationLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_RealEstateAndAccumulatedDepreciationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE AND ACCUMULATED DEPRECIATION</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cost:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Initial Cost Of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Building &amp; Improvements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Improvements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract" xlink:label="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract" xlink:to="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Investment Property, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNetAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross Amount Carried at Close</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="us-gaap_RealEstateGrossAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateGrossAtCarryingValue" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at End of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at Beginning of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="us-gaap_RealEstateAccumulatedDepreciation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at End of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at Beginning of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Depreciation</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1" xlink:to="srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Date of Construction</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_RealEstateAndAccumulatedDepreciationDateOfConstruction1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date of Completion</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Life Used For Depreciation1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Life</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_RealEstatePropertiesNetOfDeferredTaxLiabilities" xlink:label="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities" xlink:to="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate cost, net of deferred tax liabilities for the purpose of federal income tax as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties Net Of Deferred Tax Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_RealEstatePropertiesNetOfDeferredTaxLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate cost, net of deferred tax liabilities, of Income Properties, Land, Buildings, and Improvements for Federal income tax</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_SecScheduleIiiRealEstateAdditionsAndImprovements" xlink:label="cto_SecScheduleIiiRealEstateAdditionsAndImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_SecScheduleIiiRealEstateAdditionsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of increase in real estate investments related to additions and improvements for entities with a substantial portion of business acquiring and holding investment real estate.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_SecScheduleIiiRealEstateAdditionsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate, Additions and Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_SecScheduleIiiRealEstateAdditionsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additions and Improvements</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="us-gaap_RealEstateCostOfRealEstateSold" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateCostOfRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cost of Real Estate Sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Depreciation:</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation, Depreciation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and Amortization</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation on Real Estate Sold</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseGross" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseGross" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldforsale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Held-for-sale</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_AcquisitionsOfIncomePropertySubjectToLeaseMasterTenantHialeahMember" xlink:to="cto_AcquisitionsOfIncomePropertySubjectToLeaseMasterTenantHialeahMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_AcquisitionsOfIncomePropertySubjectToLeaseMasterTenantHialeahMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the information pertaining to Master Tenant - Hialeah.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:to="us-gaap_MovementInMortgageLoansOnRealEstateRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MovementInMortgageLoansOnRealEstateRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate</label>
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:label="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">New Mortgage Loans</label>
    <loc xlink:type="locator" xlink:href="cto-20211231.xsd#cto_MortgageLoansOnRealEstateLoanFeesPaid" xlink:label="cto_MortgageLoansOnRealEstateLoanFeesPaid" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="cto_MortgageLoansOnRealEstateLoanFeesPaid" xlink:to="cto_MortgageLoansOnRealEstateLoanFeesPaid_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageLoansOnRealEstateLoanFeesPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage loans on real estate loan fees paid.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageLoansOnRealEstateLoanFeesPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans On Real Estate Loan Fees Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="cto_MortgageLoansOnRealEstateLoanFeesPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Collection of Origination Fees</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageLoanOnRealEstateAccretionOfOriginationFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage loan on real estate accretion of origination fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageLoanOnRealEstateAccretionOfOriginationFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loan On Real Estate Accretion Of Origination Fees</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="cto_MortgageLoansOnRealEstateCommercialAndConsumerNetForFederalIncomeTaxPurposes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The balance represents the amount of loans that are secured by real estate mortgages for federal income tax purposes, offset by the reserve to cover probable credit losses on the loan portfolio.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="cto_MortgageLoansOnRealEstateCommercialAndConsumerNetForFederalIncomeTaxPurposes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate, Commercial and Consumer, Net, For federal Income Tax Purposes</label>
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