Add Listing
    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

    517 Hwy 98 W Apalachicola, FL 32320

    View on Map
    For Sale
    Under Contract
    $315,000

    LAND - Apalachicola, FL

    Lot size:
    3.05 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 3 at 3:06 am

    Property Features for 517 Hwy 98 W

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    C-4
    Standard status
    Active Under Contract
    APN
    1109S08W000010600000
    Lot size
    3.05 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    2.3 AC IN NW 1/4 OR 92 176 53/439 955/718 & A PARCEL OF LAND 161X 204 SEC 11-09S-08W DES AS FOLLOWS FR AN IRON PIKE MRK INTERSEC 50 FT ST RD NO 10 WITH W BOU AIRPORT FENCE RN S 766 FT TH E ALG RD 800 FT TO POB TH RUN S 204 FT TH E 161 FT TH N 204 FT
    TaxAnnualAmount
    1596

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Spohrer Price Ray Team

    Listing agent Spohrer Price Ray Team

    Listing office Berkshire Hathaway Homeservices - Sgi 140 1st Street, Ste B, ST. GEORGE ISLAND, FL

    Listing date Feb 26, 2026

    MLS# 326301

    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

    Apalachicola Bay View Land

    This property features two commercial parcels totaling over 3 acres, situated on US Highway 98, offering views of the Apalachicola Bay. The location is suitable for investment and development. The property has operated as a mobile home park for decades, with residences owned by tenants. Structures located on the property that do not belong to individual tenants are not habitable, should be torn down, and have no monetary value. The property is being sold as land only. The zoning is C-4. The information was taken from the Franklin County Property Appraiser's website. The property is in an estate, and any sale is contingent upon Court approval.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Skin Care Clinic Daycare Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Apalachicola
    County
    Franklin
    State
    Florida
    Longitude
    -85.0133107
    Latitude
    29.7143763

    Nearby Similar for Sale

    • $659,000
      3,600 SF

      Versatile Commercial Property on Highway 98

      High-visibility commercial property in Apalachicola with showroom, offices, and warehouse.
      631 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $650,000
      2,611 SF

      Apalachicola Commercial Building For Sale

      Downtown Apalachicola commercial building with upgrades and ample parking.
      47 Ave F, Apalachicola, FL 32320
      View Details
    • $340,000
      1,071 SF

      Mixed-Use Commercial Property, Apalachicola

      High-visibility mixed-use property in Apalachicola, Florida, suitable for investors.
      229 Highway 98, Apalachicola, FL 32320
      View Details
    • $795,000
      4,596 SF

      Apalachicola Storefronts Near Courthouse

      Four storefronts totaling approximately 4,600 sq ft in Apalachicola.
      45 Market St, Apalachicola, FL 32320
      View Details
    • $415,000

      Waterfront Commercial Land on Highway

      Bayfront parcels with high visibility near historic Apalachicola.
      530 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $2,550
      1,750 SF

      Downtown Apalachicola Commercial Space

      Highly visible commercial space with multiple potential uses.
      51 Market St unit: A, Apalachicola, FL 32320
      View Details
    • $799,900
      3,500 SF

      Apalachicola Mixed-Use Commercial Building

      High-visibility mixed-use property with income potential in downtown Apalachicola.
      51 Market St, Apalachicola, FL 32320
      View Details
    • $300,000

      Apalachicola Commercial Land with View

      Commercial land in downtown Apalachicola with water view.
      286 Water St, Apalachicola, FL 32320
      View Details
    • $200,000

      Apalachicola Highway 98 Coastal Land

      0.92-acre parcel on Highway 98 with development potential.
      515 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $100,000

      Apalachicola Land with Development Potential

      Coastal homesite with mature trees near beaches and historic Apalachicola.
      342 Brownsville Rd, Apalachicola, FL 32320
      View Details
    • $289,500

      Apalachicola Land Investment Opportunity

      Two wooded building sites near downtown Apalachicola.
      139 8th St, Apalachicola, FL 32320
      View Details
    • $125,000

      Apalachicola Land Near Marina

      Three contiguous lots near downtown and Scipio Creek Marina.
      350 Market St, Apalachicola, FL 32320
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with highway frontage and bay views.
    Where is this commercial land located?
    The property is located at 517 Hwy 98 W Apalachicola, FL.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Over 3 acres of commercial land on US Highway 98.; Located across the street from Apalachicola Bay with views.; Prime location for investment and development.
    (850) 260-3356
    We can help!
    Listing Contact
    Spohrer Price Ray Team
    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!