0 Timber Island Rd Carrabelle, FL 32322
This exceptional 35-acre peninsula in Carrabelle, Florida, presents a remarkable coastal development opportunity. Situated on the picturesque Forgotten Coast, this property boasts stunning waterfront views at the mouth of the Carrabelle River and the Gulf of Mexico. The land is neatly divided into 46 potential residential lots, offering breathtaking vistas from every point. Across the channel lie two pristine islands, enhancing the property's idyllic setting. Nearby barrier islands, Dog Island and St. George Island, provide excellent fishing and recreational opportunities. Located within Carrabelle city limits, the property is zoned FLU: Residential, allowing for a coastal residential community or a luxury RV park. The convenient location offers proximity to world-class beaches, historic fishing villages, shopping, and dining along scenic Highway 98. With a price of $2,125,000 ($60,714/acre), this is a unique chance to create a premier coastal retreat in a sought-after location. Multiple APNs in Franklin County, FL, are included in this offering. The property's potential for development, combined with its stunning natural beauty and convenient location, makes it an exceptional investment.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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