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    510 W 8Th St Carrabelle, FL 32322

    For Sale
    $965,000

    Apartments/Multi-Family - Carrabelle, FL

    Type:Apartment
    Property size:
    4,672 SF
    Lot size:
    0.25 Acres
    Days on Market:
    61
    Last Refresh:
    Dec 5 at 1:06 pm

    Property Features for 510 W 8Th St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    R-2
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    8
    Bathrooms
    8
    APN
    20-07S-04W-4230-0E13-0060
    Size
    4,672 SF
    Lot size
    0.25 Acres

    Utilities

    Cooling system
    Central Air, Electric, Heat Pump

    Building Details

    Year built
    1981
    Flooring type
    Vinyl
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    Coastal Realty Group (850) 227-7770 [email protected]

    Listing agent Beth Embert (850) 227-7770

    Listing date Oct 6, 2025

    MLS# 320811 Listing URL

    Copyright © 2025 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

    Renovated Carrabelle Four-Unit Investment Property

    Rivers Rae is a four-unit investment property in Carrabelle, Florida, offering potential for long-term stability and high-income short-term rental returns. This completely renovated four-unit townhome building is suited for investors. The property features modern upgrades and high rental income potential, appealing to beach lovers, outdoor enthusiasts, and vacationers. Renovations include new electric, plumbing, windows, exterior and interior doors, lighting, water heaters, bathrooms, and luxury vinyl plank flooring. The newly configured eat-in-kitchens feature a breakfast bar, appliance packages that include a dishwasher, stove, microwave, and refrigerator, and solid surface countertops over white cabinetry. Additional features include crown molding, recessed lighting, neutral tones, and tall vanities. Each unit includes an inviting backyard with a covered patio and privacy fencing. All units are fully furnished and turnkey ready for short-term or long-term rentals. The property is zoned R-2 and sits on a 0.25-acre lot. The building has a total area of 4,672 square feet. Bookings for 2025 are at $99,500.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rivers Rae Homestay

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Carrabelle
    County
    Franklin
    State
    Florida
    Longitude
    -84.6717
    Latitude
    29.856643

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    FAQs

    What type of property is this?
    Quadplex - Completely renovated four-unit townhome in Carrabelle, Florida's Forgotten Coast.
    Where is this quadplex located?
    The property is located at 510 W 8Th St Carrabelle, FL.
    What is the asking price?
    The asking price for this property is $965,000.
    What are key features of this property?
    This property features: - High Income Potential: Expect $99,500 in bookings for 2025.; - Completely Renovated: Boasting all new electric, plumbing, windows, doors, lighting, water heaters, bathrooms, and flooring.; - Turnkey Ready: Fully furnished units are ready for immediate short-term or long-term rentals.
    (850) 227-7770
    Request Owner's contact information
    510 W 8Th St Carrabelle, FL 32322
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    Carrabelle, FL 32322
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    Realmo Value Estimation

    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.

    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.

    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
    510 W 8Th St Carrabelle, FL 32322
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