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    1331 Main St Chipley, FL 32428
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    1331 Main St Chipley, FL 32428

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    • Commercial land
    • 3,629 SF
    For Sale
    $699,999
    View Listing →
    Prime Commercial Land Opportunity For Sale
    $699,999
    3,629 SF

    Prime Commercial Land Opportunity

    High-visibility land with versatile building and highway frontage.

    1331 Main Street, Chipley, FL 32428
    View Listing
    Property ID
    US18-5536338
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1331 Main St

    Year built
    1962
    Property size
    3,629 SF
    Property type
    Commercial land
    Property subtype
    Retail space

    Description

    CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS. Position your business for success with this prime, high-visibility location! Situated on approximately 2.7 acres with over 280 ft of Hwy 77 frontage, this property offers exceptional exposure, with an average daily traffic count of 17,00 ... 0 (per 2023 DOT data). The versatile building could be well-suited for a variety of business uses, including retail, professional offices, or service-based ventures. Its strategic location and generous road frontage provide unparalleled opportunities to attract both vehicle and foot traffic. Currently utilized as a 3-bedroom, 2.5-bath residence, this home has had updates including whole house generator, roof in 2019 and tankless hot water heater. Don't miss your chance to secure a premium spot that offers flexibility for immediate use or future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.5433131
    Latitude
    30.7620693

    Comparable in this City

    • $749,999

      High-Visibility Commercial Property on Hwy

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    • $449,999
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      Retail/Office Space on Hwy 77

      High-visibility location with highway frontage suitable for retail or office.
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      1,248 SF

      Prime Location Commercial Property

      High-visibility commercial property on 0.64 acres with highway frontage.
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    • $2,450,000
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      824 Mary Helen Drive, Chipley, FL 32428

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    • $749,999
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      Prime Commercial Property on Highway

      High-visibility commercial property with highway frontage and flexible layout.
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    Similar Nearby for Sale

    • $749,999

      High-Visibility Commercial Property on Hwy

      0.768 acre commercial property with highway frontage and high traffic.
      1259 Main St, Chipley, FL 32428
      View Details
    • $449,999
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      Retail/Office Space on Hwy 77

      High-visibility location with highway frontage suitable for retail or office.
      1213 Main St, Chipley, FL 32428
      View Details
    • Contact for pricing
      1,248 SF

      Prime Location Commercial Property

      High-visibility commercial property on 0.64 acres with highway frontage.
      1213 Main St, Chipley, FL 32428
      View Details
    • $2,450,000
      40,736 SF

      824 Mary Helen Drive, Chipley, FL 32428

      Warehouses • 40,736 SF
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    • $749,999
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      Prime Commercial Property on Highway

      High-visibility commercial property with highway frontage and flexible layout.
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    Similar Nearby for Lease

    • $2,500 /Mo
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      Office Space in Industrial Park

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      Highway 77 Shopping Center Space

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      Industrial Warehouse with Expansion Land

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      16,173 SF

      Retail Space in Chipley, Florida

      Retail property available for lease in Chipley, Florida.
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    • $750 /Mo

      Warehouse Space in Industrial Park

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    View Listing
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    1331 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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    1331 Main St, Chipley, FL, 32428
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