Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1604 Smugglers Cove Cir Gulf Breeze, FL 32563

    Sponsored
    For Sale
    $495,000

    Vacant Land - Gulf Breeze, FL

    Type:Single Family Residence
    Lot size:
    0.74 Acres
    Days on Market:
    27
    Last Refresh:
    Feb 3 at 8:06 pm

    Property Features for 1604 Smugglers Cove Cir

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Zoning
    Resid Single Family
    APN
    21-2S-27-5130-00000-0810
    Exterior features
    Bulkhead/Seawall, Covenants, Within 1/2 Mile to Water
    Lot size
    0.74 Acres

    Utilities

    Water front features
    140 Feet Of Waterfront, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kathy Spady
    Kathy Spady

    Realty Solutions NWF, LLC (850) 313-1648

    Listing agent Kathy Spady (850) 313-1648 License #1046217

    Listing date Jan 8, 2026

    MLS# 976802 Listing URL

    Copyright © 2026 Navarre Area Board 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.

    Learn more

    Property Insight Report

    Overview

    Waterfront Lot in Smugglers Cove

    This 0.74-acre waterfront lot is located in the private community of Smugglers Cove. The property features 130 feet of frontage on the Santa Rosa Sound. A seawall and rip rap are in place. The community offers a pool, gym, tennis court, pickleball court, basketball half court, a community dock, and a small watercraft boat ramp. The property is located in Gulf Breeze, Florida, with access to boating, jet skiing, and fishing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Gym & Fitness Center Storage Facility HVAC Service Grocery & Convenience Store Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Breeze
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.959485
    Latitude
    30.393103

    Nearby Similar for Sale

    • New
      $435,000
      828 SF

      Gulf Breeze Duplex: Income Potential

      Turnkey duplex in Gulf Breeze Proper with short-term rental potential.
      118 Shirley Dr, Gulf Breeze, FL 32561
      View Details
    • $95,000
      Pending

      Gulf Breeze Investment Opportunity

      Ready-to-rent lots with sound access in Midway, Gulf Breeze.
      1560 Sunny Oak St, Gulf Breeze, FL 32563
      View Details
    • New
      $95,000
      Pending

      Gulf Breeze Land Investment Opportunity

      Ready-to-rent lots with sound access in Gulf Breeze, Florida.
      1564 Sunny Oak St, Gulf Breeze, FL 32563
      View Details
    • $250,000
      Pending

      Gulf Breeze Boat Slip Opportunity

      68-foot boat slip in a coveted Gulf Breeze location.
      869 Silver Strand, Gulf Breeze, FL 32563
      View Details
    • $4,100,000
      30,062 SF

      Unique Gulf Breeze Commercial Opportunity

      A 30,062 SF commercial building in a high-growth area.
      3123 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • $1,599,000

      Luxury Coastal Living at Portofino

      Upgraded 3-bedroom condo with panoramic views and resort-style amenities.
      5 Portofino Dr, Gulf Breeze, FL 32561
      View Details
    • $879,900
      1,398 SF

      Gulf Front Corner Condo

      Updated 3 bedroom, 3 bath condo with Gulf views.
      8575 Gulf Blvd, Navarre Beach, FL 32566
      View Details
    • $809,000

      Furnished Condo with Gulf Views

      Furnished 2-bedroom condo in Portofino Island Resort with income potential.
      4 Portofino Dr, Gulf Breeze, FL 32561
      View Details
    • $1,145,000
      4,500 SF

      Gulf Breeze Retail Investment Opportunity

      4,500 SF retail property in high-traffic Gulf Breeze location.
      3113 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
      View Details
    • $375,000

      Waterfront Condo with Sound Views

      Fully furnished condo with recent upgrades and waterfront access.
      5539 Soundside Dr, Gulf Breeze, FL 32563
      View Details
    • $375,000

      Waterfront Condo with Sound Views

      Updated condo with sunrise and sunset views of Santa Rosa Sound.
      5539 Soundside Dr, Gulf Breeze, FL 32563
      View Details
    • $269,999
      980 SF

      Move-In Ready Condo in Gulf Breeze

      Comfortable condo near schools, shopping, and Pensacola Beach.
      1100 Shoreline Dr, Gulf Breeze, FL 32561
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.74-acre waterfront lot in a private, amenity-rich community.
    Where is this residential land & home lot located?
    The property is located at 1604 Smugglers Cove Cir Gulf Breeze, FL.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Waterfront lot with 130 feet on the Santa Rosa Sound; - Seawall and rip rap already in place for private dock; - Located in the private Smugglers Cove community
    (850) 313-1648
    Request Owner's contact information
    1604 Smugglers Cove Cir Gulf Breeze, FL 32563
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1604 Smugglers Cove Cir
    Gulf Breeze, FL 32563
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1604 Smugglers Cove Cir Gulf Breeze, FL 32563
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kathy Spady
    Kathy Spady
    Real Estate License ID: 1046217
    (850) 313-1648
    Learn more
    Google sign-in failed. Please try again or use another login method.