Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    244 3rd St E Eastpoint, FL 32328

    View on Map
    Claim this Listing
    For Sale
    $80,000

    LAND - St. George Island, FL

    Lot size:
    0.03 Acres
    Added:
    Jan 14, 2026
    Days on Market:
    105
    Last Refresh:
    Apr 29 at 6:06 pm

    Property Features for 244 3rd St E

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    29090S06W736000000040
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Description
    Island Cottages, Condominiium Unit #4

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Marilyn Bean
    Marilyn Bean

    Listing agent Marilyn Bean License #318763

    Listing office Century 21 Collins Realty, Inc 60 E Gulf Beach Dr., ST. GEORGE ISLAND, FL

    Listing date Jan 14, 2026

    MLS# 324631

    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

    Land on St. George Island

    This property presents a unique opportunity to build within the approved "Island Cottages" condominium project. The location is in the center of St. George Island, offering convenient walking distance to restaurants, shopping, Lighthouse Park, and beach access on 3rd St. East. The lot size is 0.0328 acres. The condominium project includes a common swimming pool. According to the owner, a new drip field would need to be installed on the other side of the alley, same as the other 2 homes that are connected to the one on E Pine Ave. HOA dues cover weekly pool service, landscape maintenance and irrigation of common areas, and insurance for the pool and common property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Hair Salon Department Store Storage Facility Bar & Pub Real Estate Agency Discount Store Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastpoint
    County
    Franklin
    State
    Florida
    Longitude
    -84.8599713
    Latitude
    29.6664535

    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
    • $399,000

      St. George Island Gulf View

      Corner lot with Gulf and Apalachicola Bay views.
      259 E Gulf Beach Dr, St. George Island, FL 32328
      View Details
    • $400,000

      Eastpoint, FL Commercial Land

      1.5 Acre commercial parcel on Highway 98 in Eastpoint.
      218 Highway 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
    • $425,000

      Bayfront Land on St. George

      Homesite with bay frontage, ready for custom home.
      1207 E Gulf Beach 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
    • $479,000

      St. George Island Waterfront Land

      1.33-acre waterfront parcel with private dock and bay access.
      1831 Bayview Dr, St. George Island, FL 32328
      View Details
    • $495,000

      St. George Island Waterfront Land

      Acre bayfront lot with private dock and beach access.
      1239 Avocet Ln lot: 10, St. George Island, FL 32328
      View Details
    • $435,000

      Apalachicola Bay Waterfront Lot

      One-acre bayfront lot with 100 feet of frontage.
      273 Magnolia Bay Dr, Eastpoint, FL 32328
      View Details
    • $115,000

      St. George Island Land Opportunity

      Rare X flood zone lot near beach, restaurants, and shops.
      156 W Pine Ave, St. George Island, FL 32328
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land for sale near beach access and local amenities.
    Where is this residential land & home lot located?
    The property is located at 244 3rd St E Eastpoint, FL.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: Approved condominium project 'Island Cottages' offering a building opportunity.; Includes access to a common swimming pool.; Central island location within walking distance to restaurants and shopping.
    (850) 653-6733
    We can help!
    Listing Contact
    Marilyn Bean
    Marilyn Bean
    Real Estate License ID: 318763
    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!