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

    309 Royal Tern Way Carrabelle, FL 32322

    Sponsored
    For Sale
    $59,000

    LAND - Carrabelle, FL

    Lot size:
    0.20 Acres
    Days on Market:
    124
    Last Refresh:
    Feb 1 at 1:06 am

    Property Features for 309 Royal Tern Way

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Wooded
    APN
    12037-05-07S-03W-1001-000F-0050
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    John P Brown
    John P Brown

    Beach Properties of Florida (850) 534-3006

    Listing agent John P Brown (850) 252-4160 License #565281

    Listing date Oct 1, 2025

    MLS# 391437

    Copyright © 2026 Tallahassee 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

    Carrabelle Golf Resort Vacant Land

    This vacant lot is located at 309 Royal Tern Way in the St. James Golf & Pickleball Resort in Carrabelle, Florida. It offers the opportunity to build a golf course-front home. Community amenities include a Robert Walker designed 18-hole championship Audobon Signature Sanctuary golf course, eight dedicated pickleball courts, a remodeled community pool, on-site dining at Crooked River Grill, boat storage, and a gulf-front neighborhood park with a day dock and park pavilions. The river town of Carrabelle offers dockage and charter opportunities for fishing enthusiasts. The Lanark Boat Club boat ramp is located 1.5 miles from St. James Bay, providing boating access. Carrabelle Beach, Alligator Point and St. George Island are all within a 15-40 minute drive.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Carrabelle
    County
    Franklin
    State
    Florida
    Longitude
    -84.557266
    Latitude
    29.90686

    Nearby Similar for Sale

    • $898,000
      4,672 SF

      Renovated Four-Unit Investment Property

      Completely renovated four-unit townhome in Carrabelle, Florida's Forgotten Coast.
      510 W 8Th St, Carrabelle, FL 32322
      View Details
    • $625,000
      3,596 SF

      Carrabelle Commercial Building with Apartment

      Versatile commercial building with apartment near Highway 98 in Carrabelle.
      406 Avenue B SE, Carrabelle, FL 32322
      View Details
    • $999,900
      0.48 Acres

      Carrabelle Waterfront Commercial Opportunity

      Unique commercial property with extensive water frontage and numerous docks.
      1506 W 98 Hwy, Carrabelle, FL 32322
      View Details
    • $349,000
      5,216 SF

      Carrabelle Warehouse with RV Parking

      Spacious warehouse with office, RV parking, and convenient location.
      202 NE 7Th St, Carrabelle, FL 32322
      View Details
    • $829,000
      3,600 SF

      Coastal Lodge Business Opportunity

      Income-producing lodging business with expansion potential in Carrabelle, Florida.
      1001 Highway 98 E, Carrabelle, FL 32322
      View Details
    • $107,000
      0.01 Acres

      Carrabelle Beach RV Resort Site

      Premium bay view RV site in Carrabelle Beach RV Resort.
      1843 Highway 98, Carrabelle, FL 32322
      View Details
    • $349,000

      Carrabelle Warehouse with RV Parking

      Large warehouse in Carrabelle with climate-controlled office and RV parking.
      202 Ne 7Th St, Carrabelle, FL 32322
      View Details
    • Contact for pricing
      0.01 Acres

      Carrabelle Dockominium: Boat Storage Awaits

      Own Your Boat Slip & Amenities
      1570 Highway 98, Carrabelle, FL 32322
      View Details
    • $45,000
      0.23 Acres

      Carrabelle Commercial Lot - Hwy 98

      Prime Carrabelle lot, C1 zoning, near beaches.
      503 Storrs Ave, Carrabelle, FL 32322
      View Details
    • $789,000
      7,000 SF

      Historic Carrabelle Commercial Compound

      Beachfront potential, 7000 sqft, 3 apartments
      2390 Oak St, Carrabelle, FL 32322
      View Details
    • $349,000
      526 SF

      Carrabelle Warehouse: Prime Commercial Space

      Spacious warehouse, ideal location, multiple uses.
      202 7Th St, Carrabelle, FL 32322
      View Details
    • $49,000
      0.26 Acres

      Downtown Carrabelle Commercial Lot

      Prime Buildable Lot, .26 Acres
      410 Avenue A, Carrabelle, FL 32322
      View Details

    FAQs

    What type of property is this?
    Land - Vacant lot in St. James Golf & Pickleball Resort.
    Where is this land located?
    The property is located at 309 Royal Tern Way Carrabelle, FL.
    What is the asking price?
    The asking price for this property is $59,000.
    What are key features of this property?
    This property features: - Golf course-front vacant lot in St. James Golf & Pickleball Resort.; - Access to a Robert Walker designed 18-hole championship Audobon Signature Sanctuary golf course and eight dedicated pickleball courts.; - Enjoy the newly remodeled community pool and on-site dining at Crooked River Grill.
    (850) 524-6720
    Request Owner's contact information
    309 Royal Tern Way Carrabelle, FL 32322
    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.
    309 Royal Tern Way
    Carrabelle, FL 32322
    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
    309 Royal Tern Way Carrabelle, FL 32322
    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
    John P Brown
    John P Brown
    Real Estate License ID: 565281
    (850) 524-6720
    Learn more
    Google sign-in failed. Please try again or use another login method.