Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Meet Realmo: The Largest Hub of Commercial Real Estate in the US

    Over 1 million active listings and over 150 million property profiles

    Indiangrass Lane lot 2 Santa Rosa Beach, FL 32459

    View on Map
    Claim this Listing
    Pending
    $425,000

    LAND - Santa Rosa Beach, FL

    Lot size:
    0.33 Acres
    Added:
    Jun 2, 2022
    Days on Market:
    1434
    Last Refresh:
    May 5 at 8:06 am

    Property Features for Indiangrass Lane lot 2

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Resid Single Family
    Standard status
    Pending
    APN
    27-2S-19-24141-000-0020
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Description
    LOT 2 KENDRICKS DIVIDE PB 17-14 BEING A REPLAT OF LOTS 10, 11 & 12 BLK 35 MAGNOLIA BEACH S/D. OR 2828-3153 OR 3193-845

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Murray Balkcom

    Listing agent Murray Balkcom License #3069939

    Listing office 30A Local Real Estate 35 Clayton Ln #B, Grayton Beach, FL

    Listing date Jun 2, 2022

    MLS# 900842 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.

    Overview

    Waterfront Lot in Santa Rosa

    This waterfront lot, located in Santa Rosa Beach, Florida, offers 84 feet of waterfrontage overlooking McQuage Bayou in Pt Washington, with access to the Bay. The 0.33-acre property includes a small storage building. The site is zoned for single-family residential use, allowing for the construction of a large waterfront home with views and privacy. There are no buildout times, homeowners association, or dues. The location provides views across the bayou and bay views. Grayton Beach, WaterColor, and Seaside are located 4 miles away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.143764
    Latitude
    30.37626

    Nearby Similar for Sale

    • $4,290,000

      Santa Rosa Beach Land Opportunity

      7+ acres on US Highway 98 in Santa Rosa Beach.
      5416 W US Highway 98, Santa Rosa Beach, FL 32459
      View Details
    • $650,000

      Waterfront Land on Hogtown Bayou

      0.4-acre waterfront homesite with 250+ feet on Hogtown Bayou.
      Harley Road, Santa Rosa Beach, FL 32459
      View Details
    • $1,100,000

      Scenic Highway 30A Development Opportunity

      0.30-acre lot for mixed-use development near the Gulf.
      6745 W County Hwy 30A, Santa Rosa Beach, FL 32459
      View Details
    • $429,600

      Waterfront Land in Santa Rosa

      Canal-front homesite with direct bay access for building your dream home.
      Pisces Drive lot: 8, Santa Rosa Beach, FL 32459
      View Details
    • $735,000

      Santa Rosa Beach Canal-Front Land

      Deep-water canal-front parcel in Santa Rosa Beach, Florida.
      412 Ricker Avenue, Santa Rosa Beach, FL 32459
      View Details
    • $499,999
      1,072 SF

      Seagrove Townhome with Pond Views

      Charming 2-bedroom townhome in Seagrove Beach with water views.
      195 Cassine Garden Circle, Santa Rosa Beach, FL 32459
      View Details
    • $245,000

      Wooded Lot Near Choctawhatchee Bay

      Corner lot near bay with utilities, no HOA, convenient location.
      E Nursery Rd lot: 18, Santa Rosa Beach, FL 32459
      View Details
    • $147,000

      Vacant Land in Gated Community

      Homesite in Cypress Dunes with resort-style amenities and natural surroundings.
      40 Cypress Walk, Santa Rosa Beach, FL 32459
      View Details
    • $147,000

      Coastal Homesite in Gated Community

      Vacant homesite in Cypress Dunes, Santa Rosa Beach, Florida.
      40 CYPRESS WALK, Santa Rosa Beach, FL 32459
      View Details
    • $245,000

      Wooded Lot Near Choctawhatchee Bay

      Corner lot perfect for building a custom home near the bay.
      E Nursery Road lot: 18, Santa Rosa Beach, FL 32459
      View Details
    • $500,000

      Santa Rosa Beach Homesite

      Prime lot near beach access in a growing coastal area.
      Chelsey Lane lot: 8, Santa Rosa Beach, FL 32459
      View Details
    • $3,500,000

      Seagrove Mixed-Use Development Opportunity

      Mixed-use development opportunity in Seagrove, currently a self-storage facility.
      10 Sugar Sand Lane, Santa Rosa Beach, FL 32459
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Waterfront lot with bayou access near Grayton Beach.
    Where is this residential land & home lot located?
    The property is located at Indiangrass Lane lot 2 Santa Rosa Beach, FL.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: 84 ft of waterfront property with bay access; No HOA, no dues, and no build‑out time restrictions; Waterfront living at a fraction of the price of 30A properties
    (850) 830-2475
    We can help!
    Listing Contact
    Murray Balkcom
    Real Estate License ID: 3069939
    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

    Thank You for Inquiry
    Indiangrass Lane lot: 2, Santa Rosa Beach, FL 32459
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!