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    Apalachicola Bay View Land Title is generated by Realmo AI

    517 Hwy 98 W, Apalachicola, FL 32320

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    Claim this Listing
    For Sale
    Under Contract
    $315,000

    LAND - Apalachicola, FL

    Lot size:
    3.05 Acres
    Added:
    May 13, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 2 at 1:06 am

    Property Features for 517 Hwy 98 W

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    C-4
    Standard status
    Active Under Contract
    APN
    1109S08W000010600000
    Lot size
    3.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    2.3 AC IN NW 1/4 OR 92 176 53/439 955/718 & A PARCEL OF LAND 161X 204 SEC 11-09S-08W DES AS FOLLOWS FR AN IRON PIKE MRK INTERSEC 50 FT ST RD NO 10 WITH W BOU AIRPORT FENCE RN S 766 FT TH E ALG RD 800 FT TO POB TH RUN S 204 FT TH E 161 FT TH N 204 FT
    Tax Annual Amount
    1596

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Tami Ray-hutchinson

    Listing agent Tami Ray-hutchinson

    Listing office Berkshire Hathaway Homeservices - Sgi 140 1st Street, Ste B, ST. GEORGE ISLAND, FL

    Listing date May 13, 2026

    MLS# 326301

    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

    • Over 3 acres of commercial land on US Highway 98.
    • Located across the street from Apalachicola Bay with views.
    • Prime location for investment and development.
    • High visibility on US Highway 98.
    • Water available.
    • Sewer: Septic Tank.

    Overview

    This property features two commercial parcels totaling over 3 acres, situated on US Highway 98, offering views of the Apalachicola Bay. The location is suitable for investment and development. The property has operated as a mobile home park for decades, with residences owned by tenants. Structures located on the property that do not belong to individual tenants are not habitable, should be torn down, and have no monetary value. The property is being sold as land only. The zoning is C-4. The information was taken from the Franklin County Property Appraiser's website. The property is in an estate, and any sale is contingent upon Court approval.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Skin Care Clinic Daycare Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Apalachicola
    County
    Franklin
    State
    Florida
    Longitude
    -85.0133107
    Latitude
    29.7143763

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    FAQs

    What type of property is this?
    Commercial land - Commercial land with highway frontage and bay views.
    Where is this commercial land located?
    The property is located at 517 Hwy 98 W Apalachicola, FL.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Over 3 acres of commercial land on US Highway 98.; Located across the street from Apalachicola Bay with views.; Prime location for investment and development.
    (850) 653-7515
    We can help!
    Listing Contact
    Tami Ray-hutchinson
    Request Owner's contact information
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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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    517 Hwy 98 W, Apalachicola, FL 32320
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