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    Residential Homesite in Gated Community Title is generated by Realmo AI

    352 Cord Grass Way, Port St Joe, FL 32456

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    Claim this Listing
    For Sale
    $199,900

    LAND - Port St. Joe, FL

    Lot size:
    0.08 Acres
    Added:
    Feb 23, 2026
    Days on Market:
    103
    Last Refresh:
    Jun 6 at 2:06 pm

    Property Features for 352 Cord Grass Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Security features
    Security
    Vegetation
    Natural State
    Pets allowed
    Yes
    Standard status
    Active
    APN
    06287445R
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    JUBILATION PHASE II PB 5 PG 12 LOT 69 ORB 367/362 CD FR JUBILATION ORB 371/725 QC FR LEITMAN ET AL MAP 35D
    Tax Annual Amount
    1345

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Billy Joe Smiley
    Billy Joe Smiley

    Listing agent Billy Joe Smiley License #660500

    Listing office Port Realty Group 101 Reid Ave., Ste 108, Port St. Joe, FL

    Listing date Feb 23, 2026

    MLS# 326483 Listing URL

    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

    • Deeded beach access via private boardwalk in a gated Gulf‑side community.
    • Short‑term rentals allowed, offering investment potential.
    • Enjoy the Gulf‑view pool and clubhouse amenities.
    • Located in an established neighborhood with paved streets.
    • Proximity to St. Joseph Peninsula State Park and Salinas Park.
    • Convenient access to downtown Port St. Joe.

    Overview

    Located at 352 Cord Grass Way in Jubilation on Cape San Blas, Port St. Joe, Florida, this residential homesite is situated within a gated Gulf-side community. The interior lot provides an opportunity to construct a custom beach home. Residents benefit from private boardwalk access to the white-sand beaches. Jubilation amenities include a Gulf-view pool, sun deck with pergola, lounge seating, clubhouse, and direct dune walkover to the beach through the neighborhood's private boardwalk system. Short-term rentals are permitted, offering flexibility for investment property, vacation home, or primary residence construction. The lot is positioned within an established neighborhood of coastal homes and paved streets. The Loggerhead Run Bike Path runs along Cape San Blas Road, offering miles of paved multi-use trail for biking and walking along the peninsula. St. Joseph Peninsula State Park is located to the north with Gulf beaches, St. Joseph Bay access, boat ramps, fishing, hiking trails, and camping. Salinas Park to the south provides Gulf access, bay access, pickleball courts, event pavilions, and beach parking. Downtown Port St. Joe, with marina access, grocery stores, restaurants, retail shops, and coastal services, is approximately 10-12 miles away. The lot size is 0.0803 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Gym & Fitness Center Furniture & Home Goods Computer & Electronic Repair Tech Support Center Travel Agency (Bike/Boat/Book/etc) Store Parking Lot & Garage Hotel & Motel Real Estate Agency

    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
    -85.33268
    Latitude
    29.680998

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    FAQs

    What type of property is this?
    Residential land & home lot - Interior lot in Jubilation with beach access and Gulf-view pool.
    Where is this residential land & home lot located?
    The property is located at 352 Cord Grass Way Port St Joe, FL.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Deeded beach access via private boardwalk in a gated Gulf‑side community.; Short‑term rentals allowed, offering investment potential.; Enjoy the Gulf‑view pool and clubhouse amenities.
    (850) 340-1213
    We can help!
    Listing Contact
    Billy Joe Smiley
    Billy Joe Smiley
    Real Estate License ID: 660500
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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.

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