Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15031 Us-331 Bus Freeport, FL 32439

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15031 Us-331 Bus Freeport, FL 32439

    View on Map
    • Residential income homes
    • 5.45 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 15031 Us-331 Bus

    Year built
    2007
    Lot size
    5.45 lot acres
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a stabilized, 31-unit single-family rental portfolio in Freeport, Florida's rapidly growing Walton County. The property comprises 31 detached, three-bedroom, two-bathroom units, each offering 1,007 square feet of living space. Built in 2007 and recently renovated (2022-2024), including brand new roofs on all units, this Class C property boasts a current NOI of $480,000 and a pro-forma NOI of $525,000, resulting in a current cap rate of 6.91% and a pro-forma cap rate of 7.55%. The asking price is $6,950,000, translating to $224,193.55 per unit. Currently 100% occupied with a waiting list, this property sits on a 5.45-acre lot and is zoned for residential multi-family use. The property's strong performance, coupled with its location in a high-growth area, makes it an attractive investment with significant potential for long-term appreciation. This is a rare opportunity to acquire a well-maintained, high-performing rental portfolio in a desirable location. The property features a total of 31 buildings, each a single-story structure. The property is not subject to a ground lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1299
    Latitude
    30.5125

    Comparable in this City

    • Value Estimation by Request

      621 Live Oak St

      Multifamily properties
      621 Live Oak St, Freeport, FL 32439
      View Details
    • Value Estimation by Request
      1.40 Acres

      Pitts Ave

      MOBILE HOME PARK, TRAILER PARK • 1.40 Acres
      Pitts Ave, Freeport, FL 32439
      View Details
    • Value Estimation by Request
      2,128 SF

      178 Wildwood Dr

      MOBILE HOME PARK, TRAILER PARK • 2,128 SF
      178 Wildwood Dr, Freeport, FL 32439-5043
      View Details
    • Value Estimation by Request
      6.80 Acres

      104 George Ellis Pt Rd

      Multifamily properties • 6.80 Acres
      104 George Ellis Pt Rd, Freeport, FL 32439
      View Details
    • Value Estimation by Request
      600 SF

      18655 Us Hwy 331st S

      MOBILE HOME PARK, TRAILER PARK • 600 SF
      18655 Us Hwy 331st S, Freeport, FL 32439-4710
      View Details
    • Value Estimation
      $3,365,000
      2,100 SF

      10 Phillips Dr

      MOBILE HOME PARK, TRAILER PARK • 2,100 SF
      10 Phillips Dr, Freeport, FL 32439-6152
      View Details

    Similar Nearby for Sale

    • $150,000
      0.91 Acres

      Freeport, FL Land with Utilities

      Large lot with septic tank and water taps included.
      72 April Ct, Freeport, FL 32439
      View Details
    • $150,000

      Large Lot with Rental Potential

      Under an acre lot with existing mobile homes.
      72 April Ct, Freeport, FL 32439
      View Details
    • $4,000,000
      11.44 Acres

      Freeport, FL Multifamily Development Land

      11.44 acres with development order for 128 apartment units.
      14874 Us-331 Bus, Freeport, FL 32439
      View Details
    • $1,350,000
      6,016 SF

      Freeport Multifamily Investment Opportunity

      Apartment complex with 8 units plus additional development potential.
      248 Four Mile Rd, Freeport, FL 32439
      View Details
    • $1,150,000
      840 SF

      4515 State Highway 20, Freeport, FL 32439

      Commercial real estate • 840 SF
      4515 State Highway 20, Freeport, FL 32439
      View Details

    Similar Nearby for Lease

    • $43 SF/Yr

      Retail Space on US-331

      Retail space for lease in Freeport, FL, coming Spring 2026.
      Us Highway 331, Freeport, FL 32439
      View Details
    • $28 SF/Yr
      14,973 SF

      Freeport Commercial Campus Opportunity

      Two freestanding buildings and warehouse on 4 acres in Freeport.
      15167 331 Business, Freeport, FL 32439
      View Details
    • $14 SF/Yr
      2,500 SF

      Freeport Industrial Space Available

      2,500 SF Warehouse/Office Space for Lease
      363 Bulldog Rd, Freeport, FL 32439
      View Details
    • $21 SF/Yr

      Freeport Flex Space Development

      40,000 SF development with high visibility and easy highway access.
      20431 Us Highway 331 S, Freeport, FL 32439
      View Details
    • $16 SF/Yr
      5,000 SF

      Freeport Flex Space: 1,500-5,000 SF

      Versatile Freeport industrial space, ideal for various businesses.
      13295 US-331 BUS, Freeport, FL 32439
      View Details
    • Contact for pricing
      32,400 SF

      Industrial Space in Freeport, Florida

      Industrial spaces available in rapidly expanding Freeport, Florida.
      Old Jolly Bay Rd, Freeport, FL 32439
      View Details
    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.
    15031 Us-331 Bus
    Freeport, FL 32439
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!