Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Port St. Joe Development Opportunity Title is generated by Realmo AI

    Hwy 98, Port St Joe, FL 32456

    View on Map
    Claim this Listing
    For Sale
    $3,450,000

    LAND - Port St. Joe, FL

    Lot size:
    17.50 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    115
    Last Refresh:
    May 22 at 11:06 pm

    Property Features for Hwy 98

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    04561100R
    Lot size
    17.50 Acres

    Taxes and HOA fees

    Tax Description
    See Warranty Deed for complete Legal Description. This listing is comprised of five parcels 04561-100R, 04280-000R, 04561-510R, 04561-110R, 04561-400R

    Utilities

    Utilities
    Water Available
    Water front
    1

    We can help!

    Listing Contact
    Lisa Hughley

    Listing agent Lisa Hughley

    Listing office Classic Luxury Real Estate 90 Spires Lane #10a, Santa Rosa Beach, FL

    Listing date Jan 27, 2026

    MLS# 321528 Listing URL

    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

    • Approved Commercial PUD for mixed‑use commercial & residential development.
    • Includes 600' of Bayfront and 1200' of Hwy 98 Frontage.
    • Development plans include a 30‑unit condominium, 100‑room hotel, and over 14,000 sq ft of retail/office/restaurant space.
    • Located between Port St. Joe and Mexico Beach, near beaches, fishing, and coastal communities.
    • Total of 17.5 acres comprised of five parcels.
    • Opportunity to acquire adjacent bayfront parcels for a combined development opportunity.

    Overview

    This 17.5-acre commercial PUD development opportunity is located between Port St. Joe and Mexico Beach. The property consists of five parcels with 600 feet of bayfront and 1200 feet of highway 98 frontage. The approved mixed-use commercial and residential PUD includes a bayfront 3-story, 30-unit condominium building with parking and a 40'x40' pool, a three-story, 100-room hotel with a 3,000 sq ft restaurant and 2,000 sq ft of common space, 9,195 sq ft of additional retail, office, or restaurant space, and 5,000 sq ft of supplementary commercial space. The property is suitable for a mixed-use waterfront village, hospitality destination, or phased development. The location is near white-sand beaches and coastal communities. The property is positioned for success in residential, commercial, and hospitality sectors. The site features tidal creeks and salt marsh. Conceptual site plans are available. Also listed are adjacent bayfront parcels consisting of 6.7 acres with 1230 ft of waterfront and 14-residential lots. The replacement of the bridge will be the responsibility of the buyer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Port St Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.329529
    Latitude
    29.8469005

    Nearby Similar for Sale

    • $999,000
      2,700 SF

      Downtown Port St. Joe Commercial

      Versatile 2,700 sqft building in the heart of downtown.
      323 Reid Ave, Port St. Joe, FL 32456
      View Details
    • $550,000
      2,434 SF

      Versatile Commercial Space in Port

      Prime commercial property near downtown, suitable for various business uses.
      308 Williams Ave, Port St. Joe, FL 32456
      View Details
    • $550,000
      2,490 SF

      Versatile Commercial Space Near Downtown

      Multi-use property near downtown Port St. Joe with recent updates.
      308 Williams Avenue, Port St Joe, FL 32456
      View Details
    • $699,000
      1,517 SF

      Mixed-Use Commercial/Residential Property

      Downtown Port St. Joe property with ample parking.
      324 Long Ave, Port St. Joe, FL 32456
      View Details
    • $1,850,000
      2,040 SF

      Prime Commercial Property on Cape

      Corner commercial property ideal for investors or owner-operators.
      143 Acklins Island Dr, Port St. Joe, FL 32456
      View Details
    • $424,900

      Versatile Land in Port St. Joe

      1.17 acres with commercial and residential potential near beaches.
      2810 Victoria Avenue, Port St. Joe, FL 32456
      View Details
    • $2,060,000
      4,096 SF

      Turnkey Quadplex with Gulf Views

      Furnished quadplex near the Gulf of America with beach access.
      206-212 Watermark Way, Port St. Joe, FL 32456
      View Details
    • $599,900
      2,825 SF

      Multi-Unit Investment Opportunity

      Three homes on one parcel with strong income potential.
      605 10th St, Port St. Joe, FL 32456
      View Details
    • $699,000
      1,056 SF

      Commercial Building with Bay Views

      Versatile commercial building with canal frontage and bay views.
      1934 Sr 30-a, Port St. Joe, FL 32456
      View Details
    • $1,150,000

      Gulf Front Land Opportunity

      Rare Gulf front lot with mixed commercial/residential zoning.
      8873 Hwy 98, Port St. Joe, FL 32456
      View Details
    • $625,000
      2,048 SF

      Beachside Duplex with Income Potential

      Two-unit property near the beach, ideal for rental income.
      248 Ponce De Leon Street, Port St Joe, FL 32456
      View Details
    • $2,399,000

      Commercial Land with Gulf Views

      Commercial property with unobstructed beach and Gulf views for sale.
      9454 Hwy 98 W, Port St. Joe, FL 32456
      View Details

    FAQs

    What type of property is this?
    Commercial land - 17.5-acre commercial PUD with bay and highway frontage.
    Where is this commercial land located?
    The property is located at Hwy 98 Port St Joe, FL.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: Approved Commercial PUD for mixed‑use commercial & residential development.; Includes **600' of Bayfront and 1200' of Hwy 98 Frontage.**; Development plans include a 30‑unit condominium, 100‑room hotel, and over 14,000 sq ft of retail/office/restaurant space.
    (678) 923-5152
    We can help!
    Listing Contact
    Lisa Hughley
    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
    Hwy 98, Port St. Joe, FL 32456
    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!