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

    Us Highway 331 Freeport, FL 32439

    Sponsored
    For Sale
    $780,000

    LAND - Freeport, FL

    Lot size:
    1.40 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 5 at 12:06 am

    Property Features for Us Highway 331

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    34-1S-19-23070-00B-0100
    Lot size
    1.40 Acres

    We can help!

    Listing Contact
    Deborah Channell
    Deborah Channell

    world Impact real estate (850) 225-7000

    Listing agent Deborah Channell (850) 650-3985 License #3028549

    Listing date Feb 25, 2026

    MLS# 943124

    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

    Property Insight Report

    Overview

    Prime Commercial Land in Freeport

    This offering presents an opportunity to acquire approximately 1.4 acres of land that has been rezoned to General Commercial. The rectangular parcel is positioned on a corner lot, featuring 330 frontage feet on US Highway 331, with access east and west from Rodney Drive to Hwy. 331. An environmental assessment report indicates that 90% of the site consists of very good soil/sand suitable for development, with no wetlands and a 0-5% slope, indicating the property is level. This land parcel has potential for development into a retail center or an office complex to serve the adjacent residential communities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.118273
    Latitude
    30.50944

    Nearby Similar for Sale

    • $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
    • $1,300,000

      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
    • $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
    • $1,200,000
      2,207 SF

      Freeport Storefront - $1.2M

      Prime Freeport retail space, huge potential!
      19228 Us Highway 331, 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
    • $6,495,000
      16,289 SF

      Four Mile Landing Plaza: Freeport Retail Center

      High-Yield Retail Investment, Freeport, FL
      857 Fl-20, Freeport, FL 32439
      View Details
    • $3,500,000
      7.91 Acres

      Freeport Commercial Land - Hwy 331

      7.91 Acres, High-Density Residential Zoning
      14703 331 Business, Freeport, FL 32439
      View Details
    • $1,200,000
      840 SF

      Highway 20 RV Park Land

      12+ Acres, Freeport, FL Development Opportunity
      4515 State Highway 20, 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

    FAQs

    What type of property is this?
    Commercial land - 1.4 acres of commercial land with highway frontage.
    Where is this commercial land located?
    The property is located at Us Highway 331 Freeport, FL.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: - Prime 1.4-acre land parcel rezoned to General Commercial; - Strategic corner lot location with **330 frontage feet on US Highway 331**; - Easy access to US Highway 331 from Rodney Drive
    (850) 502-9402
    Request Owner's contact information
    Us Highway 331 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.
    Us Highway 331
    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
    Us Highway 331 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
    Deborah Channell
    Deborah Channell
    Real Estate License ID: 3028549
    (850) 502-9402 (850) 650-3985 (850) 499-5789
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!