Sign Up Successful!
You now have access to more from Realmo!
    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

    8010 Highway 98 W Port Saint Joe, FL 32456

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,350,000

    2.8-acre site with existing 6,384 SF hotel.

    Property size:
    6,384 SF
    Lot size:
    2.80 Acres

    Property Features for 8010 Highway 98 W

    General Information

    Size
    6,384 SF
    Lot size
    2.80 Acres

    We can help!

    Listing Contact
    Jason Carnes
    Jason Carnes
    Source: Moodyscre

    Listing Agent: Jason Carnes

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

    Learn more

    Overview

    St. Joe Beach Hotel Site

    This 2.8-acre site features a 6,384-square-foot hotel and is located in St. Joe Beach. It is the only property in the area with hotel/motel zoning and represents the largest single parcel in St. Joe Beach. The site offers 400 feet of frontage on US Highway 98. It is situated across the street from a public beach access. The owners are open to leasing the property.
    Location Intelligence

    Current Use by Public Records

    The Blu at SJB Motel

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Bar & Pub Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Saint Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.3725
    Latitude
    29.909896

    Nearby Similar for Sale

    • $1,700,000
      4,644 SF

      Commercial Space with Bay Views

      Established commercial space and short-term rental condo with bay views.
      115 Sailors Cove Dr, Port St Joe, FL 32456
      View Details
    • $1,600,000
      5,806 SF

      Renovated Boutique Motel on Highway

      Turnkey hospitality property near beaches and downtown Port St. Joe.
      3155 Highway 98 W, Port St Joe, FL 32456
      View Details
    • $765,000
      2,700 SF

      Mixed-Use Property in Port St. Joe

      Mixed-use property with commercial space and residential retreat in Port.St.Joe.
      316 Long Ave, Port St Joe, FL 32456
      View Details
    • $869,000
      3,000 SF

      Mixed-Use Property in Port St. Joe

      Commercial and residential space near downtown and marina.
      304 Long Ave, Port St Joe, FL 32456
      View Details
    • $239,900
      0.19 Acres

      Improved RV Lot Ready Now

      Turn-key RV lot with utilities and metal pole barn.
      131 Colors Way, Port St Joe, FL 32456
      View Details
    • $825,000
      2,700 SF

      Mixed-Use Property in Coastal Setting

      Mixed-use property with commercial space and residential retreat in Port. St. Joe.
      308 Long Ave, Port St Joe, FL 32456
      View Details
    • New
      $219,000
      0.11 Acres

      Coastal RV Retreat Opportunity

      0.11-acre corner lot with RV, ready for Gulf getaway.
      215 Angel Fish St, Port St Joe, FL 32456
      View Details
    • $224,900
      0.11 Acres

      Coastal RV Retreat Opportunity

      0.11-acre corner lot near St. Joe Bay.
      215 Angel Fish St, Port St Joe, FL 32456
      View Details
    • $3,400,000
      17.50 Acres

      Bayfront Development Opportunity in Florida

      17.5-acre approved PUD for mixed-use development.
      Us-98, Port St Joe, FL 32456
      View Details
    • $1,100,000
      2,700 SF

      Downtown Port St. Joe Commercial Building

      Versatile 2,700 SF commercial building in the heart of downtown.
      323 Reid Ave, Port St Joe, FL 32456
      View Details
    • $230,000
      0.13 Acres

      Improved RV Lot Near St. Joe Bay

      RV lot with hookups, shower, toilet, and bunkhouse near bay.
      186 Ling St, Port St Joe, FL 32456
      View Details
    • $800,000
      0.60 Acres

      RV Rental Lots with Bay Views

      Four RV rental lots with bay views in mixed-use area.
      1905 Parker Ave, Port St Joe, FL 32456
      View Details

    FAQs

    What type of property is this?
    Hotel - 2.8-acre site with existing 6,384 SF hotel.
    Where is this hotel located?
    The property is located at 8010 Highway 98 W Port Saint 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: - Only property in St. Joe Beach with hotel/motel zoning.; - Largest single parcel in St. Joe Beach.; - **2.8 Acre site with 6,384 SF hotel.**
    (850) 563-1502
    Request Owner's contact information
    8010 Highway 98 W Port Saint Joe, FL 32456
    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.
    8010 Highway 98 W
    Port Saint Joe, FL 32456
    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
    8010 Highway 98 W Port Saint Joe, FL 32456
    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
    Jason Carnes
    Jason Carnes
    (850) 563-1502
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.