Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Shelby Court lot 17 Chipley, FL 32428

    View on Map
    Pending
    Contact for pricing

    LAND - Chipley, FL

    Lot size:
    0.43 Acres
    Added:
    Mar 5, 2025
    Days on Market:
    400
    Last Refresh:
    Apr 9 at 5:06 am

    Property Features for Shelby Court lot 17

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    00000000-01-0116-0017
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SUNNY HILLS UNIT #1 LOT 17 ORB 939 P 479 BLK 0116
    Tax Annual Amount
    96

    We can help!

    Listing Contact
    Casey Owens
    Casey Owens

    Listing agent Casey Owens License #BK3390116

    Listing office Elite Realty 964 Main Street, Chipley, FL

    Listing date Mar 5, 2025

    MLS# 770010

    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.

    Overview

    Oversized Corner Lot in Chipley, FL

    This over-sized corner lot is located in Unit 1 of the peaceful and scenic Sunny Hills community. It is situated on a paved road and is a short drive from the main Boulevard, Boat Lake, and Highway 77. Homes are located nearby, suggesting power accessibility. Gap Lake, an 800+ acre freshwater paradise, is nearby, offering fishing opportunities and views of cypress trees. A county boat ramp on Gap Lake provides water access. Sunny Hills is a growing golf course community with new construction underway. It is located under 30 minutes from Chipley, Lynn Haven, and the airport. The location is less than an hour away from Panama City Beach. Sunny Hills offers freshwater lakes for fishing and boating, as well as a swim park at spring-fed Boat Lake for seasonal activities. This deed-restricted lot is reserved for building. The lot size is 0.43 acres. There might be community water available through US Water, however there are currently no utilities on the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.619814
    Latitude
    30.538121

    Nearby Similar for Sale

    • $349,900

      Prime Commercial Land in Chipley

      High-traffic commercial land with multiple access points in growing Chipley.
      1217 Main Street, Chipley, FL 32428
      View Details
    • $160,000

      Commercial Lots in Sunny Hills

      Vacant commercial lots suitable for various uses.
      Elkcam Boulevard, Chipley, FL 32428
      View Details
    • $27,950

      Versatile Commercial Parcel in Chipley

      One-acre commercial parcel with multi-family development potential in Sunny Hills.
      Elkcam Boulevard, Chipley, FL 32428
      View Details
    • $22,995

      Commercial Lot in Growing Area

      Prime commercial lot near amenities in a rapidly growing area.
      Deltona Boulevard, Chipley, FL 32428
      View Details
    • $149,000

      8 Acres Land Near Beaches

      8 acres of land with highway frontage near beaches.
      Moss Hill Road, Chipley, FL 32428
      View Details
    • $30,000

      Golf Course Homesite in Chipley

      Partially cleared lot on Sunny Hills Golf Course.
      Westbrook Drive, Chipley, FL 32428
      View Details
    • $29,800

      Wooded Homesite in Chipley, Florida

      1-acre homesite with no HOA, owner financing available.
      Arnone Lane lot: 5, Chipley, FL 32428
      View Details
    • $19,500

      Corner Lot in Sunny Hills

      0.229 acre corner lot in established Sunny Hills subdivision.
      Elmore Street lot: 19, Chipley, FL 32428
      View Details
    • $35,000

      Wooded Homesite in Chipley, Florida

      1-acre wooded homesite with no HOA near Holmes Creek.
      Arnone Lane lot: 4, Chipley, FL 32428
      View Details
    • $19,500

      Corner Lot in Sunny Hills

      Residential lot in established subdivision near recreational amenities.
      Elmore Street lot: 16, Chipley, FL 32428
      View Details
    • $15,900

      Corner Lot in Sunny Hills

      0.30-acre corner lot in Sunny Hills, Florida.
      WINDBROOK STREET, CHIPLEY, FL 32428
      View Details
    • $19,500

      Corner Lot in Sunny Hills

      Residential lot in established subdivision with golf course and lakes.
      Elkcam Boulevard lot: 7, Chipley, FL 32428
      View Details

    FAQs

    What type of property is this?
    Land - Corner lot in Sunny Hills community, ready for your dream home.
    Where is this land located?
    The property is located at Shelby Court lot 17 Chipley, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Large corner lot in Sunny Hills, ideal for building a dream home.; Close proximity to Gap Lake (800+ acres) with excellent fishing and a county boat ramp.; Located in a growing golf course community with new construction.
    (850) 326-3704
    We can help!
    Listing Contact
    Casey Owens
    Casey Owens
    Real Estate License ID: BK3390116
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!