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

    1331 Main St Chipley, FL 32428

    • Commercial real estate
    • 3,629 SF
    • 2.70 lot acres
    For Sale
    View listing
    $749,999
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1331 Main St

    Year built
    1962
    Lot size
    2.70 lot acres
    Property size
    3,629 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 1331 Main Street in Chipley, Florida, presents a unique opportunity for businesses seeking high visibility and ample space. The property boasts a substantial 2.7-acre lot with over 280 feet of frontage on Highway 77, ensuring significant exposure to the approximately 17,000 vehicles that pass daily (based on 2023 DOT data). The versatile 3,629 square foot building offers adaptability for a wide range of commercial uses, including retail establishments, professional offices, or service-oriented businesses. Currently configured as a residential property with three bedrooms and two and a half bathrooms, the building offers immediate occupancy potential. Recent updates include a whole-house generator, a roof replacement in 2019, and a tankless hot water heater, minimizing immediate maintenance needs. The strategic location and extensive road frontage provide unparalleled opportunities to attract both vehicular and pedestrian traffic, making this property an ideal investment for businesses seeking to establish a strong presence in the Chipley market. The property's size and location offer flexibility for immediate use or future development, making it a truly exceptional commercial opportunity.

    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
    -85.54314
    Latitude
    30.76208

    Comparable in this City

    • $695,000
      1.00 Acre

      Prime Commercial Land, Chipley, FL

      One-acre lot, $695,000, excellent location.
      0 Main St, Bells Mill, FL 32428
      View Details
    • $325,000
      3,150 SF

      Prime Chipley Commercial Building

      High-visibility Main Street location, 3150 sq ft.
      615 Main St, Chipley, FL 32428
      View Details
    • $698,000
      7,984 SF

      Versatile Chipley Commercial Building

      10-Acre Property, Huge Potential!
      4135 Pine Log Rd, Chipley, FL 32428
      View Details
    • $349,999
      864 SF

      Chipley Commercial Property - High Traffic Area

      3-Acre Commercial Lot w/ Building & Shop
      3831 Highway 77, Chipley, FL 32428
      View Details
    • $749,999
      1,530 SF

      High-Visibility Chipley Office Building

      Prime Location, High Traffic, 1,530 sq ft
      1259 Main St, Chipley, FL 32428
      View Details
    • $169,999
      5,100 SF

      Downtown Chipley Office Building

      Historic Office Building, 5100 sq ft
      1364 Railroad Ave, Chipley, FL 32428
      View Details

    Similar Nearby for Sale

    • $695,000
      1.00 Acre

      Prime Commercial Land, Chipley, FL

      One-acre lot, $695,000, excellent location.
      0 Main St, Bells Mill, FL 32428
      View Details
    • $325,000
      3,150 SF

      Prime Chipley Commercial Building

      High-visibility Main Street location, 3150 sq ft.
      615 Main St, Chipley, FL 32428
      View Details
    • $698,000
      7,984 SF

      Versatile Chipley Commercial Building

      10-Acre Property, Huge Potential!
      4135 Pine Log Rd, Chipley, FL 32428
      View Details
    • $349,999
      864 SF

      Chipley Commercial Property - High Traffic Area

      3-Acre Commercial Lot w/ Building & Shop
      3831 Highway 77, Chipley, FL 32428
      View Details
    • $65,000

      Chipley Commercial Lot - $65K

      Prime Sunny Hills location, 24,829 sq ft lot.
      9 Gap Blvd, Chipley, FL 32428
      View Details
    • $188,900

      Prime Chipley Commercial Land

      High-traffic Hwy 77 frontage, Blue Lake access.
      0 Tbd 77, Chipley, FL 32428
      View Details
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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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