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

    1213 Main St Chipley, FL 32428

    • Office buildings
    • 984 SF
    • 0.68 lot acres
    For Sale
    View listing
    $449,999
    Last Sale
    Oct 18, 2023
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0857164
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1213 Main St

    Year built
    1970
    Lot size
    0.68 lot acres
    Property size
    984 SF
    Property type
    Office buildings
    APN
    21880000
    APU
    21880000

    Description

    This exceptional 1,248 square foot office building presents a remarkable investment opportunity in Chipley, Florida. Strategically located on 0.64 acres of land with prominent frontage along Highway 77, this property benefits from exceptional visibility and high traffic volume. According to 2023 Florida Department of Transportation data, the average daily traffic count on this stretch of Highway 77 is 14,500 vehicles, ensuring significant exposure for your business. The building's adaptable design makes it suitable for a wide range of commercial uses, including retail establishments, professional offices, or service-oriented businesses. Its prime location ensures easy access for both pedestrian and vehicular traffic, maximizing your potential for customer reach. The property's size and highway frontage offer significant advantages for businesses seeking high visibility and accessibility. This is a rare opportunity to establish your business in a highly desirable and well-trafficked location. Don't miss out on this chance to secure a prominent presence in the Chipley market. The asking price is $449,999.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.54
    Latitude
    30.766

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,447
    $54,900
    $63,595
    $118,495
    -
    $54,900
    $63,595
    $118,495

    Comparable in this City

    • Value Estimation by Request
      1,360 SF

      1498 Hwy 90

      OFFICE BUILDING • 1,360 SF
      1498 Hwy 90, Chipley, FL 32428-2127
      View Details
    • Value Estimation by Request
      1,872 SF

      812 Main St

      OFFICE BUILDING • 1,872 SF
      812 Main St, Chipley, FL 32428-1533
      View Details
    • Value Estimation
      $655,000
      2,756 SF

      1370 Old Bonifay Rd

      OFFICE BUILDING • 2,756 SF
      1370 Old Bonifay Rd, Chipley, FL 32428-1302
      View Details
    • Value Estimation by Request
      2,329 SF

      1513 Ss Blvd

      OFFICE BUILDING • 2,329 SF
      1513 Ss Blvd, Chipley, FL 32428-1626
      View Details
    • Value Estimation by Request
      2,710 SF

      2277 Sunny Hls Blvd

      OFFICE BUILDING • 2,710 SF
      2277 Sunny Hls Blvd, Chipley, FL 32428-2923
      View Details
    • Value Estimation by Request
      1,320 SF

      740 2nd St

      OFFICE BUILDING • 1,320 SF
      740 2nd St, Chipley, FL 32428-1783
      View Details

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    1213 Main St
    Chipley, FL 32428
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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.

    More about this property
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