Freeport, FL Multifamily Development
For Sale
$4,000,000
14874 US-331 BUS, Freeport, FL 32439
Land, Freeport, FL
Property SizeContact for details
Lot Size11.44 Acres
Days on Market311
Property Features for 14874 US-331 BUS
General Information
Property type
Land
Property subtype
Other
Zoning
Resid Multi-Family
Subdivision
The Oaks of Freeport
Elementary school
Freeport
Middle school
Freeport
High school
Freeport
Directions
Hwy 20 to Hwy 331
Standard status
Active
APN
10-1S-19-23000-004-0020
Lot size
11.44 Acres
Taxes and HOA fees
Tax Description
See document for legal description due to length.
Legal Description
See document for legal description due to length.
Utilities
Sewer type
Public Sewer
Listing Agency:
Corcoran Reverie SRB
(850) 231-5030
Listed By:
Hilary K Farnum-Fasth · License #662303
(850) 685-0171
Added: Nov 6, 2025
Changed: Aug 27
Last Checked: Sep 13 at 4:06PM
MLS# 989106
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11.44-acre property in Freeport, Florida, consists of two combined parcels situated along US Highway 331. Zoned R-3 for multi-family use, the property has a Development Order approved for 128 apartment units, along with building plans and surveys. The location provides visibility and accessibility along the US Hwy 331 corridor, surrounded by residential and commercial areas. It is located minutes from downtown Freeport, local schools, shopping, and essential services, and is within easy reach of the Beaches of South Walton, Interstate 10, and Highway 98. This property presents a development opportunity in Walton County's market, where the demand for multi-family housing continues to rise.
Key Highlights
- Shovel‑ready: Includes Development Order (D.O.) approved for 128 apartment units, building plans, and surveys.
- Zoned R‑3 for multi‑family use on 11.44 acres (two combined parcels).
- Prime location on US Highway 331 in rapidly growing Freeport, Florida.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
128
Residential units
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 32439, FL
12,943
Population
6,772
Households
1.9
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
96.5 sq mi
ZIP Area
134
Density / Sq Mi
$77,500
Median Household Income
$40,358
Median Earnings
$1,657
Median Rent
$343,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - 11.44 acres with development order for 128 apartment units.
Where is this residential land & home lot located?
The property is located at 14874 US-331 BUS Freeport, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Shovel‑ready: Includes Development Order (D.O.) approved for 128 apartment units, building plans, and surveys.; Zoned R‑3 for multi‑family use on 11.44 acres (two combined parcels).; Prime location on US Highway 331 in rapidly growing Freeport, Florida.
