Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Large Acreage Development Opportunity Title is generated by Realmo AI

    6722 Highway 85, Laurel Hill, FL 32567

    View on Map
    Claim this Listing
    For Sale
    $2,000,000

    Over 120 acres of land suitable for development.

    Type:Land / Vacant Land
    Property size:
    5,227,200 SF
    Lot size:
    120.00 Acres
    Price / SF:
    $0.38/SF
    Added:
    Jan 3, 2024
    Days on Market:
    882
    Last Refresh:
    Mar 13 at 10:04 am

    Property Features for 6722 Highway 85

    General Information

    Standard status
    Active
    Size
    5,227,200 SF
    Lot size
    120.00 Acres
    Property subtype
    Land / Vacant Land

    We can help!

    Listing Contact
    Anna M White
    Anna M White

    Listing agent Anna M White License #3407081

    Listing office Coldwell Banker Realty

    Listing date Jan 3, 2024

    Source Compass

    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 Coldwell Banker Realty

    HighLights

    • 120+/- Acres of Land
    • Eligible for additional housing density under the 'Live Local Act'
    • Zoned Rural Residential (two homes per acre)
    • Approximately 275 feet of Hwy 85 road frontage
    • Utilities available: water and power
    • Adjoins Heritage Plantation

    Overview

    This property features over 120 acres, comprising multiple parcels that must be sold together. It includes approximately 275 feet of frontage on Highway 85. The current zoning is Rural Residential, allowing two homes per acre. Utilities, including water and power, are available. The property adjoins acreage belonging to Heritage Plantation. The site is located in Flood Zone X. According to the provided information, this parcel is suitable for developing affordable housing and is eligible for additional density based on the 'Live Local Act' requirements. The existing home on the property is considered to have no value. Buyers are advised to verify all dimensions.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Spa & Massage Center Hotel & Motel Gym & Fitness Center Skin Care Clinic HVAC Service Acupuncture

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

    Location Insight

    • Map
    • Local Demand
    City
    Laurel Hill
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.442024
    Latitude
    30.964117

    Nearby Similar for Sale

    • $110,900

      10 AC Land Parcel

      Land parcel for homesite, recreation, or small farm.
      Parcel D2 Millside Road, Laurel Hill, FL 32567
      View Details
    • $99,900

      10 AC Land Parcel

      10 AC parcel for building, rural living, or recreation.
      Parcel D1 Millside, Laurel Hill, FL 32567
      View Details
    • $736,000

      Picturesque Family Farm in Laurel Hill

      64-acre farm with pond, branch, and pasture in North Walton.
      1716 Hub Presley Road, Laurel Hill, FL 32567
      View Details
    • $2,399,000

      226-Acre Country Estate in Laurel Hill

      226-acre country estate ideal for recreation, equestrian, or agricultural use.
      405 Walden Lane, Laurel Hill, FL 32567
      View Details
    • $750,000

      Laurel Hill Commercial Land Parcel

      2.85-acre commercial parcel in rapidly expanding North Crestview market.
      3252 Champions Dr | Laurel Hill, FL 32567
      View Details
    • $750,000

      Mixed-Use Commercial Land Parcel

      Cleared and ready commercial land with direct Highway 85 frontage and Mixed Use zoning for flexible development.
      3252 Champions Dr, Laurel, Hill, FL 32567
      View Details
    • $707,300

      Laurel Hill Land Opportunity

      Land in Laurel Hill, Florida, suitable for various uses.
      A, B, & C New Ebenezer Road, Laurel Hill, FL 32567
      View Details
    • $453,400

      Expansive Land Parcel in Laurel Hill

      Large 48.4-acre parcel in Laurel Hill, Florida.
      B & C New Ebenezer Road, Laurel Hill, FL 32567
      View Details
    • $60,000

      Laurel Hill Land Parcel

      0.87 acre parcel suitable for building or investment.
      8102 5Th Street, Laurel Hill, FL 32567
      View Details
    • $1,358,000

      Cleared Agricultural Land with Creek

      Cleared agricultural acreage with a creek feature, offering space for horses and rural uses in a Walton County setting.
      81 Acres Show Horse Way, Laurel Hill, FL 32567
      View Details
    • $15,000

      Laurel Hill Land For Sale

      Level lot with existing structure in Laurel Hill, Florida.
      3806 New Ebenezer Road, Laurel Hill, FL 32567
      View Details
    • $115,000

      Laurel Hill Land with RV Hookup

      6.61 acre property with well, septic, and RV hookup.
      8092 Highway 393, Laurel Hill, FL 32567
      View Details

    FAQs

    What type of property is this?
    Land - Over 120 acres of land suitable for development.
    Where is this land located?
    The property is located at 6722 Highway 85 Laurel Hill, FL.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 120+/- Acres of Land; Eligible for additional housing density under the 'Live Local Act'; Zoned Rural Residential (two homes per acre)
    We can help!
    Listing Contact
    Anna M White
    Anna M White
    Real Estate License ID: 3407081
    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

    Thank You for Inquiry
    6722 Highway 85, Laurel Hill, FL 32567
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!