Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cleared 30-Acre Land Parcel in Jay Title is generated by Realmo AI

    0 Shell Road, Jay, FL 32565

    View on Map
    Picture of Other land at 0 Shell Road, Jay, FL
    For Sale
    $420,000

    NEW PRICE! 30+/- Acres Clear, Level For Sale in Jay, FL

    Property size:
    1,306,800 SF
    Lot size:
    30.00 Acres
    Price / SF:
    $0.32/SF
    Added:
    Feb 18, 2025
    Days on Market:
    449
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 0 Shell Road

    General Information

    Standard status
    Active
    Property type
    Other land, Commercial land, Residential land & home lots, Land
    Size
    1,306,800 SF
    Elevators
    N/A
    Lot size
    30.00 Acres

    We can help!

    Listing Contact
    Paul Salter

    Listing agent Paul

    Listing office

    Listing date Feb 18, 2025

    Overview

    This 30-acre parcel of cleared, level land is located in Jay, Florida. The property is zoned Rural Residential Agriculture (AG-RR), allowing for low-density residential development at a density of one dwelling unit per acre, suitable for residential or farming purposes. The zoning may also permit conditional uses for community facilities and utilities. It offers convenient access to Interstate 10 (45 minutes south) and Interstate 65 (25 minutes north). The Northwest Florida Industrial Park at I-10 Exit 31 is in close proximity. Some utilities are available, and buyers should verify connections and fees. The property features a 60-foot right-of-way on Shell Road. The seller offers the option to subdivide into 13.8-acre lots. The property is located minutes from the Town of Jay and a short drive to Pace, and is a 45-minute commute to the Gulf Coast beaches.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Jay
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.1225
    Latitude
    30.8872

    Nearby Similar for Sale

    • $450,000

      Spacious Building on 6 Acres

      4,000 SF building on 6 acres in Jay, Florida.
      2828 Harvest Rd, Jay, FL 32565
      View Details
    • $99,900

      3-Acre Homesite in Jay, FL

      High and dry 3-acre homesite with privacy and convenience.
      3A Mineral Springs Rd, Jay, FL 32565
      View Details
    • $875,000

      75 Acres Vacant Land in Jay

      Vacant land with woodlands, ponds, and creek near Jay.
      Hwy 4, Jay, FL 32565
      View Details
    • $99,900

      3-Acre Homesite in Jay, FL

      High and dry 3-acre homesite with privacy and convenience.
      3B Mineral Springs Rd, Jay, FL 32565
      View Details
    • $110,000

      5.5 Acres in Rural Setting

      Land parcel with road frontage, city water, and partial clearing.
      5814 Hwy 4, Jay, FL 32565
      View Details
    • $69,000

      Land Parcel in Jay, FL

      2.68-acre homesite near Escambia River Valley.
      Mineral Springs Rd lot: 42, Jay, FL 32565
      View Details
    • $79,900

      Land in Dixonville Community, Jay

      3.47 acres of wooded land in Jay, Florida.
      Hwy 87, Jay, FL 32565
      View Details
    • $79,900

      Land in Dixonville Community

      3.47 acres of wooded land in Jay, Florida.
      0 Highway 87, Jay, FL 32565
      View Details
    • $75,000

      Land Parcel in Jay, FL

      2.82 acre homesite near Pace and Pensacola.
      Mineral Springs Rd lot: 41, Jay, FL 32565
      View Details
    • $69,900

      Land Near Escambia River

      2.5-acre lot near Chumuckla Springs Boat Landing.
      Mineral Springs Rd lot: 45, Jay, FL 32565
      View Details
    • $79,900

      Land Near Escambia River

      3.16 acre lot near Chumuckla Springs Boat Landing.
      Mineral Springs Rd lot: 44, Jay, FL 32565
      View Details
    • $85,000

      Land in Serene Jay, FL

      Dream home canvas in tranquil setting near Escambia River.
      Parcel 14 Sid Hayes Rd, Jay, FL 32565
      View Details

    FAQs

    What type of property is this?
    Land - NEW PRICE! 30+/- Acres Clear, Level For Sale in Jay, FL
    Where is this land located?
    The property is located at 0 Shell Road Jay, FL.
    What is the asking price?
    The asking price for this property is $420,000.
    (251) 368-1063
    We can help!
    Listing Contact
    Paul Salter
    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
    0 Shell Road, Jay, FL 32565
    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!