Add Listing
    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

    20820 Highway 231 Fountain, FL 32438

    View on Map
    For Sale
    Contact for pricing

    LAND - Fountain, FL

    Lot size:
    0.74 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    63
    Last Refresh:
    Apr 6 at 6:06 am

    Property Features for 20820 Highway 231

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Mobile Home, Resid Single
    Standard status
    Active
    APN
    00093-000-000
    Lot size
    0.74 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    FLA HWY ESTS S PARK SEC 216B LOTS 35 & 36 BLK 4 ORB 4710 P 1875
    Tax Annual Amount
    47

    We can help!

    Listing Contact
    Christopher S Roberts

    Listing agent Christopher S Roberts License #3387172

    Listing office EXP Realty LLC 10752 Deerwood Park Blvd #100, Tampa, FL

    Listing date Feb 2, 2026

    MLS# 994412

    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.

    Overview

    Fountain, FL Land Opportunity

    This 0.74 acre property in Fountain, FL, consists of two lots that can be split or kept together for two homes. Situated off Highway 231, the location provides a direct commute to central Panama City and Panama City Beach. The property offers ample space for outdoor activities. Power is available at the road, while septic and well systems are needed. Owner financing is available with 50% down.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Storage Facility Garden Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fountain
    County
    Bay
    State
    Florida
    Longitude
    -85.40365
    Latitude
    30.5256

    Nearby Similar for Sale

    • $29,900
      1,610 SF

      Fountain, FL Commercial Land

      Commercial land in fast-growing Fountain, FL, with existing structure.
      18035 Center Drive, Fountain, FL 32438
      View Details
    • $35,000

      Prime Corner Lot in Fountain

      2.44 acres, cleared, elevated, ready for your vision.
      1438 Lake Lillian Road, Fountain, FL 32438
      View Details
    • $35,000

      Cleared Land Ready For Building

      2.5 acres of unrestricted land near highways and beaches.
      1462 Lake Lillian Road, Fountain, FL 32438
      View Details
    • $14,500

      Affordable Homesite in Fountain, FL

      Homesite in Fountain, FL with convenient access and peaceful setting.
      12207 1st Street, Fountain, FL 32438
      View Details
    • $89,000

      Commercial Land in Fountain, FL

      Partially cleared commercial land in rapidly growing Fountain area.
      12239 Burke Road, Fountain, FL 32438
      View Details
    • $12,500

      Residential Homesite in Fountain, FL

      Affordable homesite with room to create your vision.
      16715 Eastwood Drive, Fountain, FL 32438
      View Details
    • $999,000

      19 Acres Prime Florida Land

      19 acres of land with highway frontage in Fountain, FL.
      Webber Road, Fountain, FL 32438
      View Details
    • $32,000

      Secluded Land in Fountain, FL

      2.5 acres of private land near Econfina Creek.
      S Silver Lake Road, Fountain, FL 32438
      View Details
    • $10,000

      Affordable Homesite in Quiet Setting

      Homesite in Fountain, FL, great for building or investment.
      12033 Azalea Street, Fountain, FL 32438
      View Details
    • $225,000

      20 Acres in Fountain, FL

      20 acres of land with usability, access, and privacy.
      11727 Owenwood Road, Fountain, FL 32438
      View Details
    • $10,000

      Homesite in Quiet Fountain Area

      Affordable homesite with room to grow in Fountain, Florida.
      12018 Barberry Street, Fountain, FL 32438
      View Details
    • $24,000

      Fountain, FL Wooded Land

      Two-acre wooded property in Fountain, Florida, offering privacy.
      21102 Joann Lane, Fountain, FL 32438
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.74 acre lot near Highway 231 in Fountain, FL.
    Where is this residential land & home lot located?
    The property is located at 20820 Highway 231 Fountain, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Large 0.74 acre lot offers ample space.; Potential to build two homes (consists of 2 lots).; Convenient commute to Panama City and Panama City Beach via Highway 231.
    (850) 225-9219
    We can help!
    Listing Contact
    Christopher S Roberts
    Real Estate License ID: 3387172
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!