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    16564 Us Highway 331 Freeport, FL 32439

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    For Sale
    Contact for pricing

    5-Acre Retail/Restaurant Site, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    This exceptional 5-acre commercial land parcel presents a unique investment opportunity in Freeport, Florida's fastest-growing city. Located at 16564 US-331, this prime site boasts over 600 feet of frontage on US Highway 331, sharing a signalized intersection with a Publix-anchored shopping center. Benefitting from over 30,000 average daily vehicles and experiencing rapid growth, this property is ideally positioned to capture significant retail traffic. The land is zoned for Commercial (Retail/Restaurant) use and includes 277 parking spaces. This offering represents the commercial component of a master-planned, mixed-use development, adjacent to a 226-unit Class A apartment community currently under construction. Situated just south of State Road 20, the property is surrounded by established commercial and retail destinations, as well as new residential communities. Its strategic location makes it the first retail stop for tourists heading to the renowned Beaches of South Walton. This sale includes a leaseback provision, expiring October 10, 2024. The property's high visibility, substantial traffic counts, and location within a thriving mixed-use development make it an exceptional investment prospect in one of Florida's most dynamic markets. The Walton County location, with its 5.6% annual growth rate and influx of new residents, ensures a strong and expanding customer base. This is arguably the best retail development site in the rapidly growing Freeport/North Walton County area. The property is ready for immediate development, offering a rare chance to capitalize on the area's explosive growth.

    Property Features for 16564 Us Highway 331

    General Information

    Property type
    Land
    Lot Size
    217,800 SF

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    Listing Contact
    Tom Watson
    Tom Watson

    Learn more

    Property Insight Report

    HighLights

    • High‑visibility 5‑acre corner lot with over 600 feet of frontage on US 331, sharing a signalized intersection with a Publix‑anchored shopping center.
    • Over 30,000 average daily traffic count, rapidly increasing.
    • Commercial component of a master‑planned mixed‑use development, including a 226‑unit Class A apartment community.
    • Prime location in Freeport, FL, the fastest‑growing city in Florida's fastest‑growing county, experiencing 5.6% annual growth and substantial population increase.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Spa & Massage Auto Repair Shop Wholesale Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1240097
    Latitude
    30.4852244

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    FAQs

    What type of property is this?
    Land - 5-Acre Retail/Restaurant Site, High Traffic
    Where is this land located?
    The property is located at 16564 Us Highway 331 Freeport, FL.
    What are key features of this property?
    This property features: High-visibility 5-acre corner lot with over 600 feet of frontage on US 331, sharing a signalized intersection with a Publix-anchored shopping center.; Over 30,000 average daily traffic count, rapidly increasing.; Commercial component of a master-planned mixed-use development, including a 226-unit Class A apartment community.
    (850) 527-3524
    Request Owner's contact information
    16564 Us Highway 331 Freeport, FL 32439
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    Freeport, FL 32439
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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
    16564 Us Highway 331 Freeport, FL 32439
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    We can help!
    Listing Contact
    Tom Watson
    Tom Watson
    Real Estate License ID: FL 3231614
    (850) 527-3524
    Learn more
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