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

    8010 West Highway 98 Port St Joe, FL 32456

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,350,000

    2.8-acre development site zoned for hotel/motel use.

    Type:Land
    Added:
    Nov 21, 2025
    Days on Market:
    159
    Last Refresh:
    Apr 5 at 8:54 pm

    Property Features for 8010 West Highway 98

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Jason Carnes
    Jason Carnes

    Listing agent Jason Carnes

    Listing office Graham & Co - Corporate

    Listing date Nov 21, 2025

    Source Grahamcompany

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Graham & Co - Corporate

    Overview

    St. Joe Beach Development Site

    This 2.8-acre development site, known as The Blu at St. Joe Beach, is located in St. Joe Beach, Florida, on US Highway 98, directly across from public beach access. Situated between Mexico Beach and Port St. Joe, it features 400 feet of frontage on US Highway 98. The property is the largest single parcel on St. Joe Beach and is zoned for hotel/motel use, making it the only parcel in the area with this zoning designation. Currently, a 16-room motel, which is not in operation, is located on the site. The property is intended for hotel/motel use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Blu at SJB Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Bar & Pub Grocery & Convenience Store

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

    Similar Places Nearby

    • Seas the Day — 8149 w hwy 98, port st joe, fl 32456
    • Monette’s Mansion — 244 Cortez St, Port St Joe, FL 32456
    • The Blu at SJB — 8010 W Hwy 98, Port St Joe, FL 32456
    • Herring House — 7101 W Hwy 98, Port St Joe, FL 32456
    • main stay suites — 7184 W Hwy 98, Port St Joe, FL 32456

    Location Insight

    • Map
    • Local Demand
    City
    Port St Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.3725
    Latitude
    29.9099

    Nearby Similar for Sale

    • $999,000
      2,700 SF

      Downtown Port St. Joe Commercial

      Versatile 2,700 sqft building in the heart of downtown.
      323 Reid Ave, Port St. Joe, FL 32456
      View Details
    • $650,000
      2,434 SF

      Versatile Commercial Space Near Downtown

      Multi-use commercial property with recent updates near downtown.
      308 Williams Ave, Port St. Joe, FL 32456
      View Details
    • $625,000
      2,490 SF

      Port St. Joe Commercial Opportunity

      Versatile commercial property near downtown with recent updates and ample parking.
      308 Williams Avenue, Port St Joe, FL 32456
      View Details
    • $699,000
      1,517 SF

      Mixed-Use Commercial/Residential Property

      Downtown Port St. Joe property with ample parking.
      324 Long Ave, Port St. Joe, FL 32456
      View Details
    • $624,900
      2,825 SF

      Versatile Multi-Unit Investment Opportunity

      Three homes on one parcel with strong income potential.
      605 10th St, Port St. Joe, FL 32456
      View Details
    • $699,000
      1,056 SF

      Commercial Building with Bay Views

      Versatile commercial building with canal frontage and bay views.
      1934 Sr 30-a, Port St. Joe, FL 32456
      View Details
    • $684,900
      2,048 SF

      Beachside Duplex with Income Potential

      Two-unit property near the beach, ideal for rental income.
      248 Ponce De Leon Street, Port St Joe, FL 32456
      View Details
    • $459,900
      1,636 SF

      Port St. Joe Duplex

      Income-producing duplex near St. Joseph Bay and Cape San Blas.
      734 Jones Homestead Rd, Port St. Joe, FL 32456
      View Details
    • $12
      1,735 SF

      Versatile Office Space in Port

      Flexible 1,700 sq ft office space for sale.
      212 Hwy 98 W unit: D, Port St. Joe, FL 32456
      View Details
    • $2,060,000
      4,096 SF

      Turnkey Quadplex with Gulf Views

      Furnished quadplex near the Gulf of America with beach access.
      206-212 Watermark Way, Port St. Joe, FL 32456
      View Details
    • $16
      1,700 SF

      Port St. Joe Office Suite

      Second-floor office suite in a mixed-use plaza.
      212 Hwy 98 W unit: C, Port St. Joe, FL 32456
      View Details
    • $235,000

      Waterfront Property with RV Parking

      0.39-acre waterfront parcel with pole barn and bathhouse.
      105 Chapel Ln, Port St. Joe, FL 32456
      View Details

    FAQs

    What type of property is this?
    Motel - 2.8-acre development site zoned for hotel/motel use.
    Where is this motel located?
    The property is located at 8010 West Highway 98 Port St Joe, FL.
    What is the asking price?
    The asking price for this property is $5,350,000.
    What are key features of this property?
    This property features: Largest single parcel on St. Joe Beach at **2.8 acres**.; Only parcel zoned for hotel/motel use in the area.; **400' frontage on US Hwy. 98**.
    (850) 830-6593
    We can help!
    Listing Contact
    Jason Carnes
    Jason Carnes
    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!