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    Crooked River Rd Carrabelle, FL 32322

    For Sale
    $480,000

    Prime 3.5-acre multi-family land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 3.5-acre parcel in Carrabelle, Florida (Franklin County, zip code 32322), presents a unique opportunity for multi-family development. Located on Crooked River Rd., Lanark, FL, this property is zoned residential and offers approved plans for a 48-unit multi-family complex. The site benefits from existing PUD and sketch plat approvals, streamlining the development process. While preliminary platting and environmental permits are still required before construction can commence, the groundwork has been laid for a swift and efficient project launch. Situated adjacent to the St. James Bay Golf Course Community—Franklin County's only 18-hole golf course—this location offers residents convenient access to recreational amenities. The property's advantageous position directly north of the St. James Health and Rehabilitation Center further enhances its appeal. Importantly, this land is not subject to HOA fees, providing developers with greater flexibility and cost savings. However, owners can opt for social membership at the golf course, enjoying full access to its facilities. The surrounding area shows significant new construction activity in St. James Bay and SummerCamp, indicating a robust and growing market. The asking price for this exceptional development opportunity is $480,000. The APN is 06-07S-03W-0000-0020-0010.

    Property Features for 0 Crooked River Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    152,460 SF

    HighLights

    • 3.5‑acre multi‑family development site in Carrabelle, FL (32322).
    • Approved plans for a 48‑unit complex with existing PUD and sketch plat approvals.
    • Located on Crooked River Rd., Lanark, FL, in a residential zone.
    • Adjacent to St. James Bay Golf Course and near St. James Health and Rehabilitation Center.
    • No HOA fees; optional golf course membership available.
    • Asking price: $480,000; APN: 06‑07S‑03W‑0000‑0020‑0010.
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Map

    City
    Carrabelle
    County
    Franklin
    State
    Florida
    Longitude
    -84.5992982
    Latitude
    29.9045206

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    FAQs

    What type of property is this?
    Multifamily property - Prime 3.5-acre multi-family land
    Where is this multifamily property located?
    The property is located at Crooked River Rd Carrabelle, FL.
    What is the asking price?
    The asking price for this property is $480,000.
    What are key features of this property?
    This property features: 3.5-acre multi-family development site in Carrabelle, FL (32322).; Approved plans for a 48-unit complex with existing PUD and sketch plat approvals.; Located on Crooked River Rd., Lanark, FL, in a residential zone.
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    Realmo Value Estimation

    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.

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    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.

    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
    Crooked River Rd Carrabelle, FL 32322
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