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    1502 Kirkland Rd Chipley, FL 32428

    For Sale
    $914,999

    Seven-unit complex, immediate income, expansion potential.

    Property size:
    7,916 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional multifamily investment property, located at 1502 Kirkland Road in Chipley, Florida, presents a rare opportunity to acquire a high-performing asset with significant upside potential. Built in 2020, the complex boasts a total of 7 units, comprising two 2-bedroom/2-bathroom units and five 2-bedroom/1-bathroom units. All units are currently fully leased, generating immediate and consistent rental income. The property sits on a substantial 3.01-acre lot, providing ample space and potential for future development. Furthermore, significant groundwork has already been laid for expansion. The seller has completed comprehensive engineering work, including detailed site construction plans, grading designs, and building drawings for the addition of four new townhomes. This expansion project has already received county approval, streamlining the permitting and construction process for a future owner. This turnkey investment offers a blend of immediate cash flow and exciting growth prospects, making it an ideal acquisition for savvy investors seeking a strong return on investment in a desirable Florida market. The property's 7,916 square feet of living space is well-maintained and ready for immediate occupancy by tenants. The existing units are in excellent condition, minimizing the need for immediate capital expenditures. This combination of existing income and approved expansion plans makes this a truly unique and compelling investment opportunity.

    Property Features for 1502 Kirkland Rd

    General Information

    Property type
    Residential income properties
    Square Feet
    7,916 SF
    Lot Size
    131,116 SF

    Building Details

    Year Built
    2020
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.5578
    Latitude
    30.77476

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    FAQs

    What type of property is this?
    Residential income property - Seven-unit complex, immediate income, expansion potential.
    Where is this residential income property located?
    The property is located at 1502 Kirkland Rd Chipley, FL.
    What is the asking price?
    The asking price for this property is $914,999.
    (850) 638-5222
    Request Owner's contact information
    1502 Kirkland Rd Chipley, FL 32428
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    Chipley, FL 32428
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    Realmo Value Estimation

    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.

    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.

    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
    1502 Kirkland Rd Chipley, FL 32428
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