77 Hwy 98 Eastpoint, FL 32328
This exceptional 1.85-acre waterfront property in Eastpoint, Florida, presents a unique development opportunity. Located at 77 Hwy 98 W, this site boasts 242 feet of direct frontage on the picturesque Apalachicola Bay, offering breathtaking views and unparalleled access to the water. Previously the location of Elena on the Bay Condominiums, the property is currently zoned R-7, allowing for a variety of potential uses. Significant groundwork has already been completed, with pilings already in place for the construction of eighteen bayfront condominiums. Additional pilings are also present, suggesting the possibility of incorporating a storage area into the development plan. A previously permitted walkway provides a foundation for a potential elevated deck overlooking the stunning bay. This property's prime location, existing infrastructure, and expansive waterfront access make it an ideal investment for developers seeking to capitalize on the high demand for waterfront properties in this desirable coastal area. The existing pilings represent a substantial cost savings for any future construction project. The R-7 zoning offers flexibility for a range of development options, allowing for creative and profitable ventures. This is a rare opportunity to acquire a fully prepared waterfront site ready for immediate development. Don't miss this chance to build your dream project in a stunning bayfront location.
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
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.