Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Carrabelle Waterfront Land For Sale Title is generated by Realmo AI

    3092 Hwy 98 E, Carrabelle, FL 32322

    View on Map
    Claim this Listing
    For Sale
    $287,000

    LAND - Carrabelle, FL

    Lot size:
    0.24 Acres
    Added:
    Jan 26, 2026
    Days on Market:
    116
    Last Refresh:
    May 22 at 10:06 pm

    Property Features for 3092 Hwy 98 E

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed, Natural State
    Standard status
    Active
    APN
    0407S03W3153000C0710
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    UNIT 2 BL C LOT 71 ST JAMES ISL PRK OR 210/595 OR 324/173 ALSO: A PORTION OF LOT 70 BEING 7.74' X 113.79
    Tax Annual Amount
    1033

    Utilities

    Utilities
    Water Available
    Water front
    1

    We can help!

    Listing Contact
    Robin Hilton

    Listing agent Robin Hilton License #3172360

    Listing office Jeff Galloway Real Estate 45 E First St, ST. GEORGE ISLAND, FL

    Listing date Jan 26, 2026

    MLS# 324536

    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

    • Bay Front/Gulf Front lot with existing concrete pilings for immediate building.
    • Permits available (renewal required) and architectural plans potentially modifiable.
    • No HOA restrictions.
    • Dock permit possible.
    • Close proximity to St. James Bay Golf and Pickle Ball Community amenities (pool, weight room, pickle ball, golf, restaurant).
    • Excellent fishing location.

    Overview

    This 0.24-acre waterfront land is located in Carrabelle, Florida. The improved bay/gulf front lot features concrete pilings to maximize waterfront views. Surveyed, permits are available but will have to be renewed. Architectural plans are available and may be modified. The lot is being sold as is with existing improvements. There is no HOA. The property offers excellent fishing opportunities and the potential for a dock permit. It is located near the St. James Bay Golf and Pickle Ball Community, which offers amenities such as a swimming pool, weight room, pickle ball court, golfing, and a restaurant. Carrabelle Beach is 15 minutes away, and St. George Island is 35 minutes away. This location is ideal for nature lovers. The property is suitable for either a stick-built home or a modular home on top of the existing pilings, offering the opportunity to start building a waterfront home right away. A build-to-suit option is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate 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
    -84.5460483
    Latitude
    29.9047722

    Nearby Similar for Sale

    • $240,000
      1,412 SF

      Carrabelle Commercial Building and Land

      Commercial building and vacant lot in Carrabelle, Florida.
      307 SE 7th St, Carrabelle, FL 32322
      View Details
    • $300,000

      Carrabelle Corner Parcel For Sale

      High-visibility corner parcel in Carrabelle's commercial corridor.
      1002 Highway 98 W, Carrabelle, FL 32322
      View Details
    • $829,000
      3,060 SF

      Coastal Lodge Business Opportunity

      Turnkey lodging business with income potential in Carrabelle, Florida.
      1001 Hwy 98 E, Carrabelle, FL 32322
      View Details
    • $65,000

      St. James Golf Course Land

      Land on the 18th hole of St. James Bay golf course.
      415 Royal Tern Way, St James, FL 32322
      View Details
    • $199,000

      Carrabelle Commercial Lots For Sale

      Five commercial lots in downtown Carrabelle, Florida, near amenities.
      112 Ave A, Carrabelle, FL 32322
      View Details
    • $65,000

      St. James Golf Course Land

      Land on golf course with community amenities and nearby attractions.
      417 Royal Tern Way, St James, FL 32322
      View Details
    • $349,000
      526 SF

      Carrabelle Warehouse with RV Parking

      Commercial warehouse in Carrabelle, Florida, with climate-controlled office space.
      202 NE 7th St, Carrabelle, FL 32322
      View Details
    • $625,000
      2,745 SF

      Carrabelle Commercial Building with Apartment

      Versatile commercial building with apartment near Highway 98.
      406 Se Ave B, Carrabelle, FL 32322
      View Details
    • $199,000

      Carrabelle Commercial Lots For Sale

      Five commercial lots in downtown Carrabelle, Florida, near shops.
      112 Ave A, Carrabelle, FL 32322
      View Details
    • $160,000

      Carrabelle Airport Adjacent Land Parcel

      8.16-acre parcel adjacent to Carrabelle Airport runway.
      295 Airport Rd, Carrabelle, FL 32322
      View Details
    • $105,000

      Coastal Land with Development Potential

      0.78-acre homesite near beaches, offering privacy and flexibility.
      2447 Hwy 98 W, Carrabelle, FL 32322
      View Details
    • $142,500

      Waterfront Lot with Panoramic Views

      One-acre Carrabelle lot with unobstructed water views.
      2077 Hwy 98 W, Carrabelle, FL 32322
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Improved bay/gulf front lot with pilings ready for construction.
    Where is this waterfront land located?
    The property is located at 3092 Hwy 98 E Carrabelle, FL.
    What is the asking price?
    The asking price for this property is $287,000.
    What are key features of this property?
    This property features: Bay Front/Gulf Front lot with existing concrete pilings for immediate building.; Permits available (renewal required) and architectural plans potentially modifiable.; No HOA restrictions.
    (850) 274-8603
    We can help!
    Listing Contact
    Robin Hilton
    Real Estate License ID: 3172360
    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
    3092 Hwy 98 E, Carrabelle, FL 32322
    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!