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    212 Hwy 98 W unit D Port St Joe, FL 32456

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    COMMERCIAL - Port St. Joe, FL

    Property size:
    1,735 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $0.01/SF
    Added:
    Dec 22, 2025
    Days on Market:
    130
    Last Refresh:
    May 1 at 12:06 pm

    Property Features for 212 Hwy 98 W unit D

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Standard status
    Active
    APN
    05685065R
    Size
    1,735 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Description
    TOWN CENTRE NORTH CONDOMINIUM ORB 426/63 UNIT C BLK 1001 ORB 674/1008 FR PANHANDLE MEDI CAL GROUP LLC MAP 50B

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2004

    We can help!

    Listing Contact
    Wendy Partie
    Wendy Partie

    Listing agent Wendy Partie License ##3580252

    Listing office Nai Talcor 17216 Panama City Beachy Pkwy, PORT ST. JOE, FL

    Listing date Dec 22, 2025

    MLS# 321019

    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

    Versatile Office Space in Port

    Located at 212 West Highway 98 in Port Saint Joe, FL, Suite D at Town Center North offers approximately 1,700 square feet of flexible office space suitable for various business needs. The suite is situated on the second floor and is accessible via an interior elevator and stairwell. The property benefits from high visibility and steady traffic due to its location directly on West Highway 98. Generous off-street parking is available. The suite features a spacious, open floor plan that can be tailored to suit a variety of professional uses, including medical, legal offices, creative studios, or consulting firms. Constructed in 2004, the building provides a contemporary setting with well-maintained common areas and professional curb appeal. The property is near downtown shops, restaurants, and essential services. The lot size is 0.04 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gulf Coast Children's ... Social Service Agency

    Suggested Use

    Restaurant Real Estate Agency Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Skin Care Clinic Kitchen & Bath Showroom HVAC Service Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Port St Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.304716
    Latitude
    29.814344

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    FAQs

    What type of property is this?
    Office units - Flexible 1,700 sq ft office space for sale.
    Where is this office units located?
    The property is located at 212 Hwy 98 W unit D Port St Joe, 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: High visibility location directly on West Highway 98.; Approximately 1,700 square feet of flexible office space.; Easy access with interior elevator and stairwell.
    (601) 405-9820
    We can help!
    Listing Contact
    Wendy Partie
    Wendy Partie
    Real Estate License ID: #3580252
    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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    212 Hwy 98 W unit: D, Port St. Joe, FL 32456

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