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    Cape San Blas Rd, Unit 22 Cape San Blas, FL 32456

    View on Map
    Sponsored
    For Sale
    $319,000

    LAND - Cape San Blas, FL

    Lot size:
    0.33 Acres
    Days on Market:
    134
    Last Refresh:
    Mar 20 at 9:06 am

    Property Features for Cape San Blas Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    06268444R
    Lot size
    0.33 Acres

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Billy Joe Smiley
    Billy Joe Smiley

    Port Realty Group (850) 340-1213

    Listing agent Billy Joe Smiley (850) 340-1213

    Listing date Nov 6, 2025

    MLS# 317097

    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.

    Learn more

    Property Insight Report

    Overview

    Gulf & Bay View Homesite

    This premier homesite offers sweeping views of both the Gulf of America and St. Joseph Bay. Positioned between sugar-white sands and calm bay waters, this property provides the ideal setting to design a custom coastal retreat. The elevated terrain allows view corridors for sunrise over the bay and sunset over the Gulf, creating an exceptional location for a dream home. A community beach path directly across the street provides easy access to the shoreline. The Cape San Blas bike path invites morning rides or walks to Salinas Park Bayside and St. Joseph Peninsula State Park, where you can enjoy kayaking, hiking, and nature trails. Utilities are available for connection, and HOA guidelines preserve the quality and value of this quiet beachside community while allowing architectural flexibility. The property accommodates site-built homes only, ensuring a cohesive neighborhood design. This lot offers unmatched coastal access, views, and value, suitable for a vacation getaway, full-time residence, or investment build. Nearby conveniences include Cone Heads Ice Cream (0.8 mi), LongBill's Restaurant (1.0 mi), and Scallop Cove General Store (0.7 mi). Salinas Park Bayside (1.2 mi) features pickleball courts, a kayak launch, and a scenic boardwalk. The lot size is 0.33 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cape San Blas
    County
    Gulf
    State
    Florida
    Longitude
    -85.38030843
    Latitude
    29.70816098

    Nearby Similar for Sale

    • $389,000
      0.11 Acres

      Cape San Blas Land Opportunity

      Beach access, community amenities, and investment potential in Ovation.
      139 W Ovation Dr, Cape San Blas, FL 32456
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Premier homesite with Gulf and Bay views and deeded beach access.
    Where is this residential land & home lot located?
    The property is located at Cape San Blas Rd, Unit 22 Cape San Blas, FL.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: - Sweeping Gulf and Bay views with sunrise and sunset view corridors.; - Deeded beach access via community beach path directly across the street.; - Ideal location for custom coastal retreat between the Gulf and St. Joseph Bay.
    (850) 340-1213
    Request Owner's contact information
    Cape San Blas Rd, Unit 22 Cape San Blas, FL 32456
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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.

    More about this property
    Cape San Blas Rd, Unit 22 Cape San Blas, FL 32456
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    Listing Contact
    Billy Joe Smiley
    Billy Joe Smiley
    Real Estate License ID: 660500
    (850) 340-1213 (850) 227-7979
    Learn more
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