Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Challenger Blvd, Unit 10 Chipley, FL 32428

    Sponsored
    For Sale
    Contact for pricing

    LAND - Chipley, FL

    Lot size:
    0.24 Acres
    Days on Market:
    15
    Last Refresh:
    Jan 20 at 1:06 am

    Property Features for Challenger Blvd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    00000000-02-0251-0010
    Lot size
    0.24 Acres

    Utilities

    Sewer type
    Septic Needed

    We can help!

    Listing Contact
    Chad Millner
    Chad Millner

    Keller Williams Success Realty (850) 249-0313 [email protected]

    Listing agent Chad Millner (850) 249-0313 License #sl3350395

    Listing date Jan 6, 2026

    MLS# 775855 Listing URL

    Copyright © 2026 Central Panhandle 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.

    Learn more

    Property Insight Report

    Overview

    Vacant Lot in Sunny Hills

    This vacant building lot is located in the community of Sunny Hills, between Chipley and Panama City. The lot is suitable for building a home or investment property. The community provides access to lakes, ponds, and nature trails, with the Sunny Hills Golf Club and Boat Lake Swim Park nearby. Paved roads are in place, and utilities are accessible, subject to verification. There are no HOA fees, but confirmation is advised. Situated approximately 30 minutes from Panama City and Chipley, the location offers access to shopping, restaurants, and healthcare via Highway 77. The white-sand beaches of the Gulf Coast are within driving distance. The lot size is 0.24 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.587871
    Latitude
    30.526325

    Nearby Similar for Sale

    • $105,000
      0.34 Acres

      Established Dessert Shop Opportunity

      Thriving dessert shop in high-traffic location with expansion potential.
      1307 Jackson Ave, Chipley, FL 32428
      View Details
    • $1,595,000
      19,200 SF

      Multi-Family Park in Chipley, FL

      Remodeled multi-family park with expansion potential on 32 acres.
      901 Prissy Ln, Chipley, FL 32428
      View Details
    • $1,499,999
      52,240 SF

      Spacious Industrial Complex for Sale

      Large industrial complex featuring multiple buildings on 4.1 acres.
      963 Industrial Dr, Chipley, FL 32428
      View Details
    • Contact for pricing
      13,225 SF

      Freestanding CVS in Chipley, Florida

      Freestanding CVS on Main Street in Chipley, Florida for sale.
      1037 Main St, Chipley, FL 32428
      View Details
    • $4,204,000
      7,003 SF

      Updated Burger King For Sale

      Burger King with new master lease in tax-free Florida.
      1698 Main St, Chipley, FL 32428
      View Details
    • Contact for pricing
      0.24 Acres

      Chipley, FL Single Family Property

      Single family property for sale in Chipley, Florida.
      # Goodman Hl Rd Rd, Chipley, FL 32428
      View Details
    • $698,000
      7,984 SF

      Versatile Chipley Commercial Building

      10-Acre Property, Huge Potential!
      4135 Pine Log Rd, Chipley, FL 32428
      View Details
    • $449,999
      1,248 SF

      High-Visibility Chipley Office Building

      Prime Hwy 77 location, 1,248 sq ft office.
      1213 Main St, Chipley, FL 32428
      View Details
    • $749,999
      3,629 SF

      High-Visibility Chipley Commercial Property

      Prime 2.7-acre lot, high traffic count.
      1331 Main St, Chipley, FL 32428
      View Details
    • $349,999
      864 SF

      Chipley Commercial Property - High Traffic Area

      3-Acre Commercial Lot w/ Building & Shop
      3831 Highway 77, Chipley, FL 32428
      View Details
    • $169,999
      5,100 SF

      Downtown Chipley Office Building

      Historic Office Building, 5100 sq ft
      1364 Railroad Ave, Chipley, FL 32428
      View Details
    • $325,000
      3,150 SF

      Prime Chipley Commercial Building

      High-visibility Main Street location, 3150 sq ft.
      615 Main St, Chipley, FL 32428
      View Details

    FAQs

    What type of property is this?
    Land - Vacant building lot in Sunny Hills, ideal for building.
    Where is this land located?
    The property is located at Challenger Blvd, Unit 10 Chipley, FL.
    What is the asking price?
    The asking price for this property is $15,000.
    What are key features of this property?
    This property features: - Vacant lot ideal for building a home or investment property.; - Located in Sunny Hills, a growing community between Chipley and Panama City.; - Enjoy access to multiple lakes, ponds, and nature trails.
    (850) 703-3501
    Request Owner's contact information
    Challenger Blvd, Unit 10 Chipley, FL 32428
    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.
    Challenger Blvd, Unit 10
    Chipley, FL 32428
    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
    Challenger Blvd, Unit 10 Chipley, FL 32428
    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

    We can help!
    Listing Contact
    Chad Millner
    Chad Millner
    Real Estate License ID: sl3350395
    (850) 703-3501
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.