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

    446 US-98 Apalachicola, FL 32320

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $980,000

    Three buildings on 0.84 acres with 216 feet of bayfront.

    Type:Commercial/Industrial
    Lot size:
    0.84 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    23
    Last Refresh:
    Apr 2 at 1:22 am

    Property Features for 446 US-98

    General Information

    Standard status
    Active
    Lot size
    0.84 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Anita Williams
    Anita Williams

    Listing agent Anita Williams License #677358

    Listing office The Realty Firm Inc

    Listing date Mar 12, 2026

    Source Exitrealty

    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 The Realty Firm Inc

    Overview

    Bayfront Commercial Property with History

    This commercial property offers a unique opportunity to own a piece of Apalachicola history. The 0.84-acre parcel includes three separate concrete block buildings, all with metal roofs. Building #1 formerly housed the iconic Bayside Restaurant. Building #2 was the oyster house, and Building #3 was the store. With 216 feet of bayfront on Apalachicola Bay and a dock, this property presents mixed-use opportunities. The possibilities are endless for creating your own dream. This property does not come on the market very often.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • T&J's PLACE LLC — 67 Dr Martin Luther King Jr Ave, Apalachicola, FL 32320

    Location Insight

    • Map
    • Local Demand
    City
    Apalachicola
    County
    Franklin
    State
    Florida
    Longitude
    -85.005
    Latitude
    29.7139

    Nearby Similar for Sale

    • $659,000
      3,600 SF

      Versatile Commercial Property on Highway 98

      High-visibility commercial property in Apalachicola with showroom, offices, and warehouse.
      631 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $650,000
      2,611 SF

      Apalachicola Commercial Building For Sale

      Downtown Apalachicola commercial building with upgrades and ample parking.
      47 Ave F, Apalachicola, FL 32320
      View Details
    • $340,000
      1,071 SF

      Mixed-Use Commercial Property, Apalachicola

      High-visibility mixed-use property in Apalachicola, Florida, suitable for investors.
      229 Highway 98, Apalachicola, FL 32320
      View Details
    • $795,000
      4,596 SF

      Apalachicola Storefronts Near Courthouse

      Four storefronts totaling approximately 4,600 sq ft in Apalachicola.
      45 Market St, Apalachicola, FL 32320
      View Details
    • $415,000

      Waterfront Commercial Land on Highway

      Bayfront parcels with high visibility near historic Apalachicola.
      530 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $2,550
      1,750 SF

      Downtown Apalachicola Commercial Space

      Highly visible commercial space with multiple potential uses.
      51 Market St unit: A, Apalachicola, FL 32320
      View Details
    • $315,000

      Apalachicola Bay View Land

      Commercial land with highway frontage and bay views.
      517 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $799,900
      3,500 SF

      Apalachicola Mixed-Use Commercial Building

      High-visibility mixed-use property with income potential in downtown Apalachicola.
      51 Market St, Apalachicola, FL 32320
      View Details
    • $300,000

      Apalachicola Commercial Land with View

      Commercial land in downtown Apalachicola with water view.
      286 Water St, Apalachicola, FL 32320
      View Details
    • $200,000

      Apalachicola Highway 98 Coastal Land

      0.92-acre parcel on Highway 98 with development potential.
      515 Hwy 98 W, Apalachicola, FL 32320
      View Details
    • $100,000

      Apalachicola Land with Development Potential

      Coastal homesite with mature trees near beaches and historic Apalachicola.
      342 Brownsville Rd, Apalachicola, FL 32320
      View Details
    • $289,500

      Apalachicola Land Investment Opportunity

      Two wooded building sites near downtown Apalachicola.
      139 8th St, Apalachicola, FL 32320
      View Details

    FAQs

    What type of property is this?
    Restaurant - Three buildings on 0.84 acres with 216 feet of bayfront.
    Where is this restaurant located?
    The property is located at 446 US-98 Apalachicola, FL.
    What is the asking price?
    The asking price for this property is $980,000.
    What are key features of this property?
    This property features: Rare opportunity to own a bayfront property with historical significance.; 216 feet of Bayfront on Apalachicola Bay with a dock.; Prime commercial property with mixed‑use opportunities on .84 acres.
    (850) 585-4869
    We can help!
    Listing Contact
    Anita Williams
    Anita Williams
    Real Estate License ID: 677358
    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!