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    Versatile Mixed-Use Property on Hwy 98 Title is generated by Realmo AI

    290 Hwy 98, Eastpoint, FL 32328

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    Claim this Listing
    New
    For Sale
    $410,000

    COMMERCIAL - Eastpoint, FL

    Property size:
    1,728 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $237/SF
    Added:
    May 18, 2026
    Days on Market:
    6
    Last Refresh:
    May 23 at 5:06 am

    Property Features for 290 Hwy 98

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-4
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3
    Standard status
    Active
    APN
    3108S06W000020000000
    Size
    1,728 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    120X140 FT IN NW 1/4 OR/QQ/318 PARCEL 1 BLOCK 3 LOTS 1 & 2 LESS E 34 FT DAVID BROWN EST. 960/523 1073/129 1087/235 1164/490 1422/478-DEATH CERT 1422/481-LIFE ESTATE
    Tax Annual Amount
    2170

    Utilities

    Sewer type
    Public Sewer
    Water source
    Well, Public

    Building Details

    Year built
    1943
    Flooring type
    Carpet, Vinyl
    Building materials
    Block
    Roof type
    Metal

    We can help!

    Listing Contact
    Blalock - Gill Team

    Listing agent Blalock - Gill Team

    Listing office St George Island Realty, Llc 115 W Gulf Beach Dr., ST. GEORGE ISLAND, FL

    Listing date May 18, 2026

    MLS# 324758

    Copyright © 2026 Forgotten Coast Realtor Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use zoning and high visibility on US Hwy 98 offer flexibility for residential or commercial use.
    • Minutes from Apalachicola and St. George Island, providing access to beaches, dining, and historical attractions.
    • Expansive master suite addition with walk‑in closet and private bath, suitable for living or office space.
    • Meticulously maintained lot with healthy grass, sprinkler system, mature shade trees, and lush shrubs.
    • Three bedrooms and three bathrooms.
    • Durable metal roof and block construction.

    Overview

    Located in Eastpoint, Florida, this mixed-use property offers potential for various residential and commercial applications. The property includes a 3-bedroom, 3-bath home with an expansive master suite addition, featuring a large walk-in closet and private bath. This space is suitable for comfortable living or conversion into office or client space. The property is situated on a well-maintained lot with grass, a sprinkler system, mature shade trees, and shrubs. A small storage shed is available for tools or additional storage. The location on US Hwy 98 provides high visibility and mixed-use zoning. The property is located minutes from Apalachicola, known for its shops, dining, and maritime history, and St. George Island, home to beaches. The property offers flexibility for residential and commercial goals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastpoint
    County
    Franklin
    State
    Florida
    Longitude
    -84.883182
    Latitude
    29.736081

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Eastpoint, FL, near Apalachicola and St. George Island.
    Where is this mixed-use property located?
    The property is located at 290 Hwy 98 Eastpoint, FL.
    What is the asking price?
    The asking price for this property is $410,000.
    What are key features of this property?
    This property features: Mixed‑use zoning and high visibility on US Hwy 98 offer flexibility for residential or commercial use.; Minutes from Apalachicola and St. George Island, providing access to beaches, dining, and historical attractions.; Expansive master suite addition with walk‑in closet and private bath, suitable for living or office space.
    (813) 240-0894
    We can help!
    Listing Contact
    Blalock - Gill Team
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    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.

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