Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    Creek Bridge Lane lot 35, Watersound, FL 32461

    View on Map
    Claim this Listing
    For Sale
    $1,150,000

    LAND - Watersound, FL

    Lot size:
    0.16 Acres
    Added:
    Apr 29, 2025
    Days on Market:
    405
    Last Refresh:
    Jun 7 at 2:06 am

    Property Features for Creek Bridge Lane lot 35

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Resid Single Family
    Standard status
    Active
    APN
    21-3S-18-16201-000-0350
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 35 WATERSOUND BRIDGES PH 2 PB 14-99 OR 2393-1573 OR 2609-3407 OR 2619-4408 OR 2623-3432 OR 2775-2598 OR 3044-3990 OR 3178-324
    Tax Annual Amount
    4836

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Greg Alsobrook
    Greg Alsobrook

    Listing agent Greg Alsobrook License #3278174

    Listing office Watersound Real Estate 1701 E Cnty Hwy 30A, SANTA ROSA BEACH, FL

    Listing date Apr 29, 2025

    MLS# 975112 Listing URL

    Copyright © 2026 Emerald Coast 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.

    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Watersound
    County
    Walton
    State
    Florida
    Longitude
    -86.059365
    Latitude
    30.298105

    Nearby Similar for Sale

    • $539,950
      1,418 SF

      Single-Family Villa with Covered Patio

      2-bed, 2-bath villa with 1.5-car garage and covered rear patio in a low-maintenance community; estimated completion Oct/Nov 2026.
      359 B Suwannee Drive, Watersound, FL 32461
      View Details
    • $544,831
      1,418 SF

      Two-Bedroom Villa with Covered Patio

      Newly planned 2BR/2BA villa with 10-foot ceilings, covered patio, and privacy fencing for low-maintenance living.
      430 B Suwannee Drive, Watersound, FL 32461
      View Details
    • $566,525
      1,442 SF

      Paired Patio Home With Covered Patios

      2BR, 2.5BA paired patio home with covered front and rear patios, 10-foot ceilings, and a 1.5-car garage.
      20 A Skimmer Cove Loop, Watersound, FL 32461
      View Details
    • $547,460
      1,442 SF

      Residence with Covered Rear Patio

      Wooded homesite offers open kitchen/family room, 10-foot ceilings, and impact-rated windows with privacy-focused separation.
      359 A Suwannee Drive, Watersound, FL 32461
      View Details
    • $553,516
      1,442 SF

      Two-Bedroom Villa Home with Patio

      Two-bedroom, 2.5-bath villa plan with covered rear patio, designed for low-maintenance indoor-outdoor living.
      430 A Suwannee Drive, Watersound, FL 32461
      View Details
    • $545,995
      1,410 SF

      Paired Patio Villa with Covered Porch

      New paired villa with 2 bedrooms, 2 baths, 10-foot ceilings, and a covered rear patio with wooded views.
      339-B Suwannee Drive, Watersound, FL 32461
      View Details
    • $5,500,000

      Residential Home Site Pair in Gated Community

      Two adjacent single-family lots in a rental-restricted, gated community with access to resort-style amenities.
      Sandcord Drive lot: 52&53, Watersound, FL 32461
      View Details
    • $940,000
      1,747 SF

      Turn-Key Townhome in Prominence Community

      Beautifully appointed townhome in Prominence. Never been rented.
      36 Milestone Drive, Watersound, FL 32461
      View Details

    FAQs

    Where is this land located?
    The property is located at Creek Bridge Lane lot 35 Watersound, FL.
    What is the asking price?
    The asking price for this property is $1,150,000.
    (850) 687-5810
    We can help!
    Listing Contact
    Greg Alsobrook
    Greg Alsobrook
    Real Estate License ID: 3278174
    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
    Creek Bridge Lane lot: 35, Watersound, FL 32461
    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!