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    Waterfront Lot in Gated Community Title is generated by Realmo AI

    9375 Palmetto Ridge Court, Navarre, FL 32566

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    For Sale
    $348,000

    LAND - Navarre, FL

    Lot size:
    0.39 Acres
    Added:
    Jan 18, 2026
    Days on Market:
    137
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for 9375 Palmetto Ridge Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Resid Single Family
    Standard status
    Active
    APN
    23-2S-26-3013-00D00-0100
    Lot size
    0.39 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PALMETTO LAKE PRESERVE LOT 10 BLK D TOGETHER WITH USE & ENJOYMENT OF BOAT SLIP NO 16 AS DEFINED IN DECL OF COV & RESTRICTIONS PER OR 2348 PG 1311 ALL AS DES IN OR 3917 PG 1775
    Tax Annual Amount
    1605

    Utilities

    Water front features
    Lake, Pond
    Water front
    1

    We can help!

    Listing Contact
    Jessica N Drew
    Jessica N Drew

    Listing agent Jessica N Drew License #3332026

    Listing office Keller Williams Realty Navarre 8494 Navarre Pkwy, Destin, FL

    Listing date Jan 18, 2026

    MLS# 993132 Listing URL

    Copyright © 2026 Emerald Coast Association 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.

    HighLights

    • Rare Waterfront Lot: Build your dream home on one of the last remaining waterfront lots in Navarre with pristine water clarity.
    • Private Boat Slip: Enjoy the convenience of a private boat slip, a rare feature within the community.
    • Deeded Beach Access: Provides exclusive deeded beach access for residents.
    • Convenient Location: Close to top‑rated schools, shopping, and Hurlburt Field Air Force Base in East Navarre.
    • Low HOA Fees: Affordable $115/month HOA covers gated entrance, underground utilities, community dock, and beach access.
    • Ready to Build: Geo‑Con soil study and survey provided, along with a potential building floor plan.

    Overview

    Located in the gated community of Palmetto Preserve in East Navarre, this waterfront lot offers pristine water clarity, deeded beach access, and a private boat slip. The property is conveniently close to top-rated schools, shopping, and Hurlburt Field Air Force Base. The Home Owners Association (HOA) fee is $115 per month, covering a gated entrance, underground utilities, well-lit paved roads, a community dock, and maintained beach access. The lot features approximately 165 feet of total water frontage and spans 0.39 acres, providing space for a custom home. A Geo-Con soil study has already been completed. The seller is providing a survey at their expense, along with a potential building floor plan. The community is designed with a Y-shaped entrance leading to two cul-de-sacs. With only two neighboring waterfront homes, there is exceptional privacy. The property is located in a quiet cul-de-sac. The community offers opportunities for dolphin watching, boating, kayaking, and fishing, and is located minutes from Navarre Beach. The zoning is Resid Single Family.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.828421
    Latitude
    30.404857

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    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lot with deeded beach access and private boat slip.
    Where is this waterfront land located?
    The property is located at 9375 Palmetto Ridge Court Navarre, FL.
    What is the asking price?
    The asking price for this property is $348,000.
    What are key features of this property?
    This property features: Rare Waterfront Lot: Build your dream home on one of the last remaining waterfront lots in Navarre with pristine water clarity.; Private Boat Slip: Enjoy the convenience of a private boat slip, a rare feature within the community.; Deeded Beach Access: Provides exclusive deeded beach access for residents.
    (850) 776-7777
    We can help!
    Listing Contact
    Jessica N Drew
    Jessica N Drew
    Real Estate License ID: 3332026
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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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