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    Commercial Land at Highway Interchange Title is generated by Realmo AI

    TBD Blue Lake Road, Chipley, FL 32428

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    Claim this Listing
    New
    For Sale
    $600,000

    COMMERCIAL - Chipley, FL

    Lot size:
    3.92 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 6:06 pm

    Property Features for TBD Blue Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    00000000-00-2350-0000
    Lot size
    3.92 Acres

    Taxes and HOA fees

    Tax Description
    17 4 13 3.92 OR 281 P466 BG.13 CHS 1 LK, S.OF NEC OF E1/2 OF SE1/4 RUN S.650',W.743',TO RR N.ON RR TO A PT. E.OF BEG,E.602' TO BEG, LESS HWY

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    Listing Contact
    Gary Hartman

    Listing agent Gary Hartman License #3180528

    Listing office Elite Realty 964 Main Street, Chipley, FL

    Listing date Jun 5, 2026

    MLS# 790930 Listing URL

    Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.92+/- acres of commercial property at the intersection of Hwy 77 and I‑10 in Washington County.
    • Frontage on Highway 77 plus access to the entrance ramp to eastbound I‑10.
    • Entrance to the property will be from Blue Lake Road off Highway 77; legal access to be negotiated with adjacent owners.
    • City of Chipley municipal water and sewer are now available; natural gas casings under I‑10 completed for this area.
    • New Washington County alcohol ordinance allows on‑premises beverage sales with alcohol in a state‑licensed restaurant on the property.
    • Additional contiguous land available: parcels 00000000‑00‑2350‑0000 and 00000000‑00‑2347‑0002 totaling 6.92 acres (see MLS# 790932).

    Overview

    This is 3.92+/- acres of commercial land in Washington County offered for sale, located at the intersection of Highway 77 and I-10. The property has frontage on Highway 77 and the entrance ramp to eastbound I-10. Legal access is noted as needing negotiation with adjacent property owners, with access described as coming from Blue Lake Road off Highway 77. The offering also mentions additional contiguous land available.

    The site benefits from key infrastructure updates in the area. Municipal water and sewer are now available from the City of Chipley, and natural gas casings under I-10 to service nearby commercial properties have been completed. The property is presented with the ability to be paired with additional parcels identified as 00000000-00-2350-0000 and 00000000-00-2347-0002, totaling 6.92 acres, with details referenced in MLS# 790932.

    The configuration and frontage make the tract well suited for commercial development where roadway visibility and convenient access matter. The public remarks also reference a new Washington County alcohol ordinance that allows sale of “on premises” beverages with alcohol in a state-licensed restaurant on the property, subject to applicable licensing and requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.550711
    Latitude
    30.746633

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    FAQs

    What type of property is this?
    Commercial land - Commercial land with Highway 77 frontage and direct access to an I-10 ramp for retail, dining, or service development.
    Where is this commercial land located?
    The property is located at TBD Blue Lake Road Chipley, FL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 3.92+/- acres of commercial property at the intersection of Hwy 77 and I‑10 in Washington County.; Frontage on Highway 77 plus access to the entrance ramp to eastbound I‑10.; Entrance to the property will be from Blue Lake Road off Highway 77; legal access to be negotiated with adjacent owners.
    (850) 773-3338
    We can help!
    Listing Contact
    Gary Hartman
    Real Estate License ID: 3180528
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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.

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    TBD Blue Lake Road, Chipley, FL 32428
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