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    123 W Gulf Beach Dr Eastpoint, FL 32328

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    Claim this Listing
    For Sale
    $1,100,000

    COMMERCIAL - St. George Island, FL

    Property size:
    2,592 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $424/SF
    Added:
    Sep 7, 2025
    Days on Market:
    234
    Last Refresh:
    Apr 28 at 6:06 pm

    Property Features for 123 W Gulf Beach Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    5
    Rooms
    Bedroom 5, Bathroom 6, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 5
    Standard status
    Active
    APN
    2909S06W7311005W0110
    Size
    2,592 SF
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    Lots 11, 12, and 13, in Block 5 West, of St. George Island Gulf Beaches Unit No. 1, according to the Plat thereof, as recorded in Plat Book 2, at Page 7, of the Public Records of Franklin County, Florida.

    Utilities

    Utilities
    Water Available
    Sewer type
    Aerobic Septic
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    2
    Flooring type
    New, Simulated wood, Tile
    Roof type
    Metal

    We can help!

    Listing Contact
    Samantha Fortunas

    Listing agent Samantha Fortunas

    Listing office Gold Palm Real Estate Co. P.O. Box 16125, Tallahassee, FL

    Listing date Sep 7, 2025

    MLS# 320130

    Copyright © 2026 Forgotten Coast Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    St. George Island Commercial Property

    Located in the heart of St. George Island's commercial district, this newly renovated, two-story building is currently configured as two spacious and fully furnished 3-bedroom, 2.5-bathroom units. The 2,592 square foot property sits on a 0.155-acre lot. The commercially zoned building offers flexible potential for investment, including vacation rentals or family getaways. The property is located steps away from beaches, showcasing white sands and Gulf views. Each unit features a modern, open floor plan designed for living and entertaining, with high-end finishes throughout. The interiors are decorated and flooded with natural light, creating a welcoming atmosphere. Its central location places it within walking distance of shops, restaurants, and public parks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Hair Salon Department Store Real Estate Agency Storage Facility Bar & Pub Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eastpoint
    County
    Franklin
    State
    Florida
    Longitude
    -84.8651773
    Latitude
    29.662822

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    FAQs

    What type of property is this?
    Short term rental property - Renovated two-story building in the heart of St. George Island.
    Where is this short term rental property located?
    The property is located at 123 W Gulf Beach Dr Eastpoint, FL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Prime central location in St. George Island's commercial district, steps from award‑winning beaches.; Newly renovated, two‑story building functioning as two fully furnished 3‑bedroom, 2.5‑bathroom units.; Ideal investment property with vacation rental potential and flexible commercial zoning.
    (850) 980-4204
    We can help!
    Listing Contact
    Samantha Fortunas
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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