Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    C-2 High-Visibility Commercial Parcel Title is generated by Realmo AI

    218 Highway 98, Eastpoint, FL 32328

    View on Map
    Claim this Listing
    New
    For Sale
    $400,000

    LAND - Eastpoint, FL

    Lot size:
    1.53 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 10:06 am

    Property Features for 218 Highway 98

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    3608S07W000001510000
    Lot size
    1.53 Acres

    Taxes and HOA fees

    Tax Description
    1.54 AC M/L IN SEC 36-08S-06W

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Johnson Team

    Listing agent Johnson Team License #3448243

    Listing office Berkshire Hathaway Homeservices - Sgi 140 1st Street, Ste B, ST. GEORGE ISLAND, FL

    Listing date Jun 2, 2026

    MLS# 328528

    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.

    HighLights

    • 1.5‑acre commercial parcel directly along U.S. Highway 98
    • Zoned C‑2 for a wide range of commercial uses
    • Water available with public water service
    • Public sewer available
    • Located next to Red Pirate Bar and Grill and a newly established gas station

    Overview

    Position your business on this C-2 zoned commercial parcel in Eastpoint. The property consists of an approximately 1.5-acre site with strong development flexibility, designed to support a wide range of commercial uses. Its value is driven by straightforward, buildable commercial land positioning with prominent visibility.

    The parcel sits directly along U.S. Highway 98, benefiting from high-visibility frontage and strong day-to-day exposure. It is positioned next to the popular Red Pirate Bar and Grill and beside a newly established gas station, placing it in an active corridor that serves both local and visitor traffic.

    For buyers and operators seeking a commercially zoned site with dependable retail activity, this location offers a practical opportunity to anchor a new development or expand an existing concept. The combination of C-2 zoning, highway frontage, and adjacent demand generators makes it well suited for businesses that rely on drive-by traffic and regional visibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastpoint
    County
    Franklin
    State
    Florida
    Longitude
    -84.889275
    Latitude
    29.735591

    Nearby Similar for Sale

    • $545,000
      2,450 SF

      Eastpoint Commercial Property with Bay Views

      Prime commercial property with two buildings and high traffic flow.
      90 Hwy 98, Eastpoint, FL 32328
      View Details
    • $589,000
      2,118 SF

      Eastpoint Commercial Property For Sale

      Commercial property in Eastpoint, FL with immediate income potential.
      315 Hwy 98, Eastpoint, FL 32328
      View Details
    • $699,000
      2,040 SF

      Prime Commercial Space, St. George

      Versatile commercial property in central, high-traffic St. George Island location.
      140 W 1st St, St. George Island, FL 32328
      View Details
    • $1,599,000

      Eastpoint Commercial Land on Highway

      Prime 1.68-acre commercial property with high visibility and access.
      275 Hwy 98, Eastpoint, FL 32328
      View Details
    • $410,000
      1,728 SF

      Versatile Mixed-Use Property on Hwy 98

      Mixed-use property in Eastpoint, FL, near Apalachicola and St. George Island.
      290 Hwy 98, Eastpoint, FL 32328
      View Details
    • $849,000

      St. George Island Bayfront Parcel

      1.4-acre bayfront parcel on St. George Island's East End.
      1805 E Gulf Beach Dr, St. George Island, FL 32328
      View Details
    • $419,500

      St. George Island Land

      Commercial land for sale on St. George Island, Florida.
      152 W Bay Shore Dr, St. George Island, FL 32328
      View Details
    • $4,800
      2,000 SF

      Eastpoint Commercial Property with Water Views

      Commercial property in Eastpoint, FL with water views and storage.
      447 Highway 98, Eastpoint, FL 32328
      View Details
    • $549,000

      St. George Island First Tier Lot

      First tier lot near beach, restaurants, and shops.
      251 W Gorrie Dr, St. George Island, FL 32328
      View Details
    • $699,000

      Prime Commercial Land on SGI

      Four contiguous commercial lots with bay and bridge views.
      60 W Bay Shore Dr, St. George Island, FL 32328
      View Details
    • $800,000
      1,200 SF

      Waterfront Cottages with RV Hookup

      Income-producing property with waterfront cottages and RV hookup.
      332 Patton Dr, Eastpoint, FL 32328
      View Details
    • $2,850,000

      St. George Island Bayfront Acres

      Undeveloped 7+ acre bayfront land with dock and beach.
      1549 E Gulf Beach Dr lot: Tract 52, St. George Island, FL 32328
      View Details

    FAQs

    What type of property is this?
    Commercial land - C-2 zoned commercial parcel with exceptional highway visibility and strong retail draw beside established businesses.
    Where is this commercial land located?
    The property is located at 218 Highway 98 Eastpoint, FL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 1.5‑acre commercial parcel directly along U.S. Highway 98; Zoned C‑2 for a wide range of commercial uses; Water available with public water service
    (850) 653-5518
    We can help!
    Listing Contact
    Johnson Team
    Real Estate License ID: 3448243
    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

    Thank You for Inquiry
    218 Highway 98, Eastpoint, FL 32328
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!