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    Prime Freeport Development Opportunity Title is generated by Realmo AI

    93 Madison St, Freeport, FL 32439

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    Claim this Listing
    For Sale
    $329,000

    0.436 acre commercial land with high visibility.

    Type:Land
    Added:
    Nov 21, 2025
    Days on Market:
    195
    Last Refresh:
    May 8 at 11:31 pm

    Property Features for 93 Madison St

    General Information

    Standard status
    Active
    Property subtype
    Land

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.

    Listing agent Harry Bell Jr. License #AL #000078384-1

    Listing office Bellcore Commercial LLC

    Listing date Nov 21, 2025

    Source Bellcorecommercial

    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 Bellcore Commercial LLC

    HighLights

    • Prime location with high visibility on Hwy 331 and significant traffic flow (21,000 AADT) on US‑331.
    • Strategic positioning adjacent to nationally recognized retailers and businesses like Publix and McDonald’s.
    • Located in Walton County, benefiting from a strong economy driven by tourism.
    • Zoned Residential Commercial, offering flexible development options.
    • Proximity to Florida's Emerald Coast beaches, restaurants, and entertainment.
    • US‑331 provides a 150‑mile transportation route from Santa Rosa Beach, FL, to Montgomery, AL.

    Overview

    This 0.436-acre property in Freeport, FL, presents an opportunity for retail, quick-service restaurants (QSR), and mixed-use development. The site offers visibility from Hwy 331 and is positioned off US-331, a thoroughfare with a traffic count of 21,000 AADT. US-331 spans 150 miles from Santa Rosa Beach, FL, to Montgomery, AL. The location is near national retailers and businesses, including Publix, McDonald’s, Waffle House, Dairy Queen, FedEx, UPS, Subway, Exxon, and Shell. Walton County, located in the North Florida Panhandle, is approximately 55 miles east of Pensacola and 100 miles west of Tallahassee, placing it near the Emerald Coast beaches, restaurants, and entertainment options. Walton County benefits from over 4 million annual visitors, contributing to an estimated $4.4 billion in sales volume within the trade area. Key employers in the region include the Okaloosa County School District, Walton County School Board, Fort Walton Beach Medical Center, Lockheed Martin, Walton County Government, San Destin Golf and Beach Resort, Reliance Test & Technology, Okaloosa Board of County Commissioners, North Okaloosa Medical Center, and L3 Crestview Aerospace. The property is zoned Residential Commercial and has dimensions of 100ft frontage and back, and 190ft along both sides. SR-20 is set to be improved into a 4 lane road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1359
    Latitude
    30.4967

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    FAQs

    What type of property is this?
    Commercial land - 0.436 acre commercial land with high visibility.
    Where is this commercial land located?
    The property is located at 93 Madison St Freeport, FL.
    What is the asking price?
    The asking price for this property is $329,000.
    What are key features of this property?
    This property features: Prime location with high visibility on Hwy 331 and significant traffic flow (21,000 AADT) on US‑331.; Strategic positioning adjacent to nationally recognized retailers and businesses like Publix and McDonald’s.; Located in Walton County, benefiting from a strong economy driven by tourism.
    (850) 240-0527
    We can help!
    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.
    Real Estate License ID: AL #000078384-1
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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.

    More about this property
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