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    Single-Family Villa with Covered Patio Title is generated by Realmo AI

    359 B Suwannee Drive, Watersound, FL 32461

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    For Sale
    $539,950

    MULTI_FAMILY - Other - Watersound, FL

    Property size:
    1,418 SF
    Price / SF:
    $380/SF
    Added:
    May 20, 2026
    Days on Market:
    19
    Last Refresh:
    Jun 7 at 5:06 am

    Property Features for 359 B Suwannee Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    Resid Single Family
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bathroom 2, Family Room, Bedroom 2, Bathroom 1, Bedroom 1
    Parking
    1
    Parking features
    Garage
    Patio and Porch features
    Patio
    Interior features
    Kitchen Island, Newly Painted, Pantry, Pull Down Stairs, Washer/Dryer Hookup, Woodwork Painted
    Exterior features
    Sprinkler System
    Appliances
    Auto Garage Door Opn, Dishwasher, Microwave, Oven Self Cleaning, Range Hood, Refrigerator W/IceMk, Stove/Oven Electric, Warranty Provided, Water Heater - Tnkls
    Standard status
    Active
    APN
    23-3S-18-16160-000-0650
    Size
    1,418 SF

    Taxes and HOA fees

    Tax Description
    LOT 65 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3353-2175

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)

    Building Details

    Year built
    2026
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Siding CmntFbrHrdBrd
    Architectural style
    Other

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    Listing Contact
    Builder Services

    Listing agent Builder Services

    Listing office Watersound Real Estate 34 Origins Main St #101, SANTA ROSA BEACH, FL

    Listing date May 20, 2026

    MLS# 1003457 Listing URL

    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.

    HighLights

    • 1,418 SF, 2‑bedroom, 2‑bath home under construction (Lucas plan) with a 1.5‑car garage
    • Covered rear patio measuring 15'8" x 8' with irrigation system included
    • Kitchen with walk‑in pantry, soft‑close cabinetry, Level 2 quartz countertops, upgraded backsplash, and upgraded GE appliance package
    • Tankless water heater plus smart home package; gas grill rough‑in
    • Luxury vinyl plank flooring and 10‑foot ceilings; impact‑rated windows
    • Structures include a 2‑hour fire separation wall between residences with insulated framing and layered gypsum board

    Overview

    This single-family villa (Lucas plan) offers 1,418 square feet with an open kitchen, dining, and family room layout under 10-foot ceilings. The home includes 2 bedrooms and 2 bathrooms, plus a 1.5-car garage, with 8-foot interior doors throughout. Large windows and direct access to the covered rear patio support a practical indoor-outdoor flow. The kitchen features upgraded soft-close cabinetry, Level 2 quartz countertops, an upgraded backsplash, a walk-in pantry, and a built-in GE appliance package with a 5-burner gas cooktop and upgraded hood. Luxury vinyl plank flooring runs throughout, complemented by craftsman-style trim and impact-rated windows. The owner’s suite includes a spacious walk-in closet that connects through the bath to the laundry room, supporting convenient movement between bedroom, garage entry, and the kitchen area. Additional features include a tankless water heater, smart home package, irrigation system, and a gas grill rough-in. Each residence is separated by a structurally independent 2-hour fire separation wall with insulated framing and layered gypsum board construction.

    The property is located in the Villas at Longleaf Park within the Watersound Origins community at 359 B Suwannee Drive, Watersound, FL 32461. The community offers convenient access to Watersound Town Center, Publix, dining, medical offices, Hwy 98, Village Commons, trails, and the Origins Golf Course. Estimated completion is October/November 2026.

    Designed for simplified ownership, the home includes lawn maintenance for low-maintenance living, while still providing functional outdoor space with the covered rear patio. The combination of impact-rated windows, included irrigation, and the multi-layer fire separation wall supports both comfort and privacy in a paired-villa setting.
    Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Watersound
    County
    Walton
    State
    Florida
    Longitude
    -86.025404
    Latitude
    30.304344

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    FAQs

    What type of property is this?
    Single family property - 2-bed, 2-bath villa with 1.5-car garage and covered rear patio in a low-maintenance community; estimated completion Oct/Nov 2026.
    Where is this single family property located?
    The property is located at 359 B Suwannee Drive Watersound, FL.
    What is the asking price?
    The asking price for this property is $539,950.
    What are key features of this property?
    This property features: 1,418 SF, 2‑bedroom, 2‑bath home under construction (Lucas plan) with a 1.5‑car garage; Covered rear patio measuring 15'8" x 8' with irrigation system included; Kitchen with walk‑in pantry, soft‑close cabinetry, Level 2 quartz countertops, upgraded backsplash, and upgraded GE appliance package
    (850) 213-5170
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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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