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

    Reserve At Hammock Bay, Unit 5 Freeport, FL 32439

    Sponsored
    For Sale
    $992,000

    LAND - Freeport, FL

    Lot size:
    11.84 Acres
    Days on Market:
    60
    Last Refresh:
    Jan 21 at 2:06 am

    Property Features for Reserve At Hammock Bay

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    City, Deed Restrictions,
    APN
    20-1S-19-23100-000-0050
    Lot size
    11.84 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Gina M Walker

    Hammock Bay Real Estate (850) 654-7777 [email protected]

    Listing agent Gina M Walker (850) 543-4991 License #3138792

    Listing date Nov 23, 2025

    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.

    Learn more

    Overview

    Freeport Land for Dream Homestead

    This 11.84-acre property is located within The Reserve at Hammock Bay, an estate-lot community that offers privacy and natural beauty. The Reserve at Hammock Bay consists of 42 homesites across 723 acres, with individual lots ranging from 3 to 80 acres. The property is subject to the guidance of The Reserve's Architectural Review Code and Team, but has no build-out time frame. The gated neighborhood includes underground utilities, natural gas, and fiber internet, along with private roads. The property is zoned with city and deed restrictions.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.176062
    Latitude
    30.479661

    Nearby Similar for Sale

    • $899,000
      12.61 Acres

      Highway Frontage RV Park Opportunity

      12+ acres with highway frontage ideal for RV park.
      4515 St Hwy 20, Freeport, FL 32439
      View Details
    • $150,000
      0.91 Acres

      Freeport, FL Land with Utilities

      Large lot with septic tank and water taps included.
      72 April Ct, Freeport, FL 32439
      View Details
    • $1,299,000
      5,354 SF

      Freeport Church on US Highway

      1.53 acre property with church building in Freeport, Florida.
      17457 Us Highway 331 S, Freeport, FL 32439
      View Details
    • $1,899,000

      Bayfront Estate Versatile Income Opportunity

      3.5-acre waterfront estate ideal for events or family compound.
      13000 W State Highway 20, Freeport, FL 32439
      View Details
    • $259,000

      Verandas at Freeport Townhome

      3-bedroom, 2.5-bath townhome in Verandas at Freeport, Florida.
      36 Date Palm Ln, Freeport, FL 32439
      View Details
    • $215,000

      Move-in Ready Townhome in Freeport

      Charming townhome with new flooring, HVAC, and roof.
      15284 331 Business Hwy, Freeport, FL 32439
      View Details
    • $5,745,000

      New Retail Plaza in Freeport

      Modern retail plaza in a growing Freeport, Florida market.
      857 St Hwy, Freeport, FL 32439
      View Details
    • $1,300,000

      Freeport Assembly of God Property

      1.53 acre property in growing Freeport, Florida.
      17457 Us-331, Freeport, FL 32439
      View Details
    • $375,000

      Freeport Multi-Unit Investment Opportunity

      Multi-unit property in Freeport, FL, generating $5,000 monthly income.
      74 E Shell Cracker Rd, Freeport, FL 32439
      View Details
    • $3,495,000

      Freeport Commercial Campus Opportunity

      Two freestanding buildings and warehouse on 4 acres in Freeport.
      15167 331 Business, Freeport, FL 32439
      View Details
    • Contact for pricing
      1,560 SF

      Freeport Waterfront Commercial Property

      Three-acre waterfront property, ample storage.
      4567 Co Hwy 3280, Freeport, FL 32439
      View Details
    • $950,000
      1.20 Acres

      High-Visibility Freeport Commercial Land

      1.2 Acres, Hwy 331 Frontage, High Traffic
      Unit 1.2 Acre, Freeport, FL 32439
      View Details

    FAQs

    What type of property is this?
    Land - 11.84 acres to build your dream homestead in Freeport, FL.
    Where is this land located?
    The property is located at Reserve At Hammock Bay, Unit 5 Freeport, FL.
    What is the asking price?
    The asking price for this property is $992,000.
    What are key features of this property?
    This property features: - Large 11.84 acre estate lot perfect for building a custom homestead.; - Exclusive gated community with only 42 homesites on 723 acres, offering privacy and refined living.; - No build-out time frame, allowing flexible construction scheduling.
    (850) 543-4991
    Request Owner's contact information
    Reserve At Hammock Bay, Unit 5 Freeport, FL 32439
    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.
    Reserve At Hammock Bay, Unit 5
    Freeport, FL 32439
    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
    Reserve At Hammock Bay, Unit 5 Freeport, FL 32439
    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
    Gina M Walker
    Real Estate License ID: 3138792
    (850) 543-4991
    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.