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

    Hwy 331 Freeport, FL 32439

    View on Map
    Claim this Listing
    For Sale
    $550,000

    LAND - Freeport, FL

    Lot size:
    4.53 Acres
    Added:
    Apr 4, 2024
    Days on Market:
    742
    Last Refresh:
    Apr 15 at 6:06 pm

    Property Features for Hwy 331

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    031S19230000210000
    Lot size
    4.53 Acres

    Taxes and HOA fees

    Tax Description
    S2 OF S2 OF SW4 OF SE4 W OF ST RD 83 SEC 03-1S-19W OR 190-358 OR 3086-4335

    Utilities

    Water source
    Public
    Water front features
    Waterfront

    We can help!

    Listing Contact
    Rachel Tullier

    Listing agent Rachel Tullier

    Listing office Pinnacle Properties Gulf Coast LLC 2400 W Michigan Ave., Suite 1, Pensacola, FL

    Listing date Apr 4, 2024

    MLS# 643140 Listing URL

    Copyright © 2026 Pensacola 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

    Corner Parcel in Freeport, Florida

    This 4.53-acre corner parcel is located in Freeport, Florida. The land features 331 feet of road frontage on Business 331 and 519 feet on Pope St. Situated in flood zone X, the property is flat and level, offering development potential. It is suited for a retail strip center, office buildings, multi-residential development, and other commercial endeavors. The current traffic count on Business 331 is 14,000 daily. The property's location and features make it an investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1319164
    Latitude
    30.5165483

    Nearby Similar for Sale

    • $489,900

      Waterfront Land with Transferable Permit

      Waterfront land in Freeport, FL with transferable building permit.
      Alden Lane lot: 6 & 7, Freeport, FL 32439
      View Details
    • $819,500

      Waterfront Homesite in Gated Community

      Deep waterfront homesite in gated community on LaGrange Bayou.
      78 Lagrange Cove Circle, Freeport, FL 32439
      View Details
    • $339,000

      Residential Lots in Freeport, Florida

      Three wooded residential lots totaling 2.7 acres in Freeport.
      Mallet Road, Freeport, FL 32439
      View Details
    • $1,000,000

      Waterfront Land Ready for Development

      1.7 acres of waterfront land with development order.
      193 Ramsey Br Road, Freeport, FL 32439
      View Details
    • $599,900

      Freeport Land with Development Potential

      1.48 acres of land suitable for residential development.
      58 Hankins Road, Freeport, FL 32439
      View Details
    • $780,000

      Waterfront Land on LaGrange Bayou

      1.33-acre waterfront homesite with new seawall and boathouse.
      Lagrange Road lot: 6A, Freeport, FL 32439
      View Details
    • $200,000

      Freeport Land Near Waterfront Park

      Land for sale near Grady Brown Waterfront Park and Boat Launch.
      75 Hankins Road, Freeport, FL 32439
      View Details
    • $739,500

      Bayou Front Homesite in Freeport

      Rare 0.43 acre bayou front homesite with utilities.
      448 Holly Point Road, Freeport, FL 32439
      View Details
    • $210,000

      Waterfront Land in Freeport, Florida

      0.70 acre waterfront lot with existing infrastructure in Freeport.
      211 Carol Drive, Freeport, FL 32439
      View Details
    • $224,000

      Residential Lots in Freeport, FL

      Two wooded residential lots totaling 1.8 acres in Freeport.
      Mallet Road lot: 9-10, Freeport, FL 32439
      View Details
    • $210,000

      Waterfront Land in Freeport, FL

      0.70 acre waterfront lot with existing utilities and dock.
      211 Carol Drive, Freeport, FL 32439
      View Details
    • $350,000

      Waterfront Lot in Growing Freeport

      Cleared residential lot with 70 feet of waterfront.
      Dexton King Road, Freeport, FL 32439
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.53-acre corner parcel with development potential in Freeport, Florida.
    Where is this commercial land located?
    The property is located at Hwy 331 Freeport, FL.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 4. 53‑acre corner parcel with significant development potential.; Prime road frontage: 331 feet on Business 334 and 519 feet on Pope St.; Located in flood zone X.
    (225) 278-7595
    We can help!
    Listing Contact
    Rachel Tullier
    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!