Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15215 331st Businessb Freeport, FL 32439-0229
    Back to Search
    Property profile & analytics

    15215 331st Businessb, Freeport, FL 32439-0229

    View on Map
    • Warehouses
    • 15,975 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US18-6817229
    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
    $2,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 15215 331st Businessb

    Year built
    2020
    Lot size
    1.00 lot acres
    Zone code
    3310
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    10-1S-19-23000-005-0110
    APU
    101S19230000050110

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 21, 2020 — Stow-away Storage LLC — Deed Of Trust · related $1.8M · Ccb Cmnty Bk
    Aug 17, 2018 — Stow Away Storage LLC — Deed · related $240k · Ccb Community Bank
    Jun 18, 2018 — Stow-away Storage LLC Spivey,ginger B Warranty Deed · related —
    Jun 6, 2018 — Ginger B Spivey Brown Owen C Trust Quit Claim Deed · related —
    Apr 13, 2010 — Brown Owen C Trust Brown,owen C Quit Claim Deed —
    Apr 13, 2009 — Brown O C Brown,owen C Quit Claim Deed · related —
    Dec 15, 2008 — Owen C Brown Brown,o C & Sarah Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,315,000
      6.5%
      $2,135,000
      7%
      $1,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,641,000
      Market price range: $746k - $2.95M
      AI Estimate
      $1,824,000
      Market price range: $488k - $2.09M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,770,000
      Current use
      RETAIL STORES
      $2,470,000
      Change: +40% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1308
    Latitude
    30.5102
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    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
    $18,685
    $0.00
    $1,842,478
    $1,842,478
    -
    $0.00
    $1,842,478
    $1,842,478

    Comparable in this City

    • Value Estimation by Request
      1,725 SF

      48 Commerce Ln Ste, Unit 2

      MINI-WAREHOUSE, STORAGE
      48 Commerce Ln Ste, Freeport, FL 32439-4557
      View Details
    • Value Estimation by Request
      1,725 SF

      48 Commerce Ln Ste, Unit 5

      MINI-WAREHOUSE, STORAGE
      48 Commerce Ln Ste, Freeport, FL 32439-4557
      View Details
    • Value Estimation
      $1,720,000
      11,986 SF

      102 Industrial Park Rd

      MINI-WAREHOUSE, STORAGE
      102 Industrial Park Rd, Freeport, FL 32439
      View Details
    • Value Estimation
      $2,415,000
      20,000 SF

      26 Site 6th Rd

      MINI-WAREHOUSE, STORAGE
      26 Site 6th Rd, Freeport, FL 32439-2564
      View Details
    • Value Estimation
      $800,000
      7,920 SF

      14905 331st Business

      MINI-WAREHOUSE, STORAGE
      14905 331st Business, Freeport, FL 32439-0227
      View Details
    • Value Estimation
      $1,580,000
      11,282 SF

      78 Nick Wilson Way

      MINI-WAREHOUSE, STORAGE
      78 Nick Wilson Way, Freeport, FL 32439-3104
      View Details

    Similar Nearby for Sale

    • $1,250,000

      Income-Producing Freeport Industrial Property

      Industrial property with warehouse space and office, generating monthly income.
      60 Mcdaniels Fishcamp Rd, Freeport, FL 32439
      View Details
    • $1,400,000

      Commercial Parcel in Freeport, Florida

      2.75 acre commercial parcel in developing Freeport, Florida.
      16463 S Us Highway 331, Freeport, FL 32439
      View Details
    • Contact for pricing
      7,000 SF

      435 83A Hwy, Freeport, FL 32439

      Industrial properties
      435 83A Hwy, Freeport, FL 32439
      View Details
    • $1,150,000
      840 SF

      4515 State Highway 20, Freeport, FL 32439

      Commercial real estate
      4515 State Highway 20, Freeport, FL 32439
      View Details
    • $399,999

      Walton County Land for Sale

      10 acres of land in Walton County, Florida.
      SW Off Bay Loop Co Hwy 83A Rd, Freeport, FL 32439
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      22,000 SF

      Freeport Warehouse Space for Lease

      22,000 SF warehouse space suitable for various commercial uses.
      13295 Business 331, Freeport, FL 32439
      View Details
    • Contact for pricing

      Industrial Space Available For Rent

      Single tenant industrial space for rent, 1,000 SqFt.
      19323 Us Highway 331, 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.
    15215 331st Businessb
    Freeport, FL 32439-0229
    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

    Thank You for Inquiry
    15215 331st Businessb, Freeport, FL, 32439
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!