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    19 State Hwy 20th W Freeport, FL 32439-3814

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    19 State Hwy 20th W Freeport, FL 32439-3814

    View on Map
    • Retail space
    • 3,420 SF
    • 0.88 lot acres
    Off-Market
    Last Sale Feb 28, 2023
    $550,000
    Property ID
    US18-6186715
    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
    $550,000
    Show details
    Cap Rate Potential
    8.2%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 19 State Hwy 20th W

    Year built
    1950
    Lot size
    0.88 lot acres
    Property size
    3,420 SF
    Property type
    Retail space
    APN
    15-1S-19-23040-006-001A
    APU
    151S1923040006001A

    Description

    This exceptional commercial property in Freeport, Florida, presents a unique investment opportunity. Located at 19 State Highway 20, this expansive 91,476 square foot lot (approximately 2 acres) offers significant potential for a variety of commercial ventures. The property is zoned C1 and RC commercial, providing flexibility for diverse business plans, from retail establishments to office complexes. Its strategic location ensures high visibility and accessibility, capitalizing on the area's bustling activity. The asking price is $1,250,000. This offering includes four separate parcels, providing additional development options. Detailed parcel information is available in the accompanying documents. Built in 1950, this property offers a blank canvas for your commercial vision, allowing you to create a space tailored to your specific business needs. Don't miss this chance to establish your presence in this thriving Freeport community. Seize this opportunity to build your commercial success in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $480,000
      ML approach
      $565,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $655,000
      6.5%
      $605,000
      7%
      $565,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $530,000
      Current use
      OFFICE BUILDING
      $855,000
      Change: +62% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Walton
    State
    Florida
    Longitude
    -86.1366
    Latitude
    30.4977
    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
    $2,183
    $92,805
    $43,058
    $135,863
    -
    $92,805
    $43,058
    $135,863

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $830,000
      5,367 SF

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      RETAIL STORES (PERSONAL SERVICES) • 5,367 SF
      979 State Hwy 20th E, Freeport, FL 32439-3933
      View Details
    • Value Estimation
      $1,570,000
      10,942 SF

      3575 State Hwy 20th W

      RETAIL STORES (PERSONAL SERVICES) • 10,942 SF
      3575 State Hwy 20th W, Freeport, FL 32439-2654
      View Details
    • Value Estimation by Request
      1,056 SF

      20991 Us Hwy 331st S

      RETAIL STORES (PERSONAL SERVICES) • 1,056 SF
      20991 Us Hwy 331st S, Freeport, FL 32439-4965
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    • Value Estimation by Request
      1,978 SF

      17656 Us Hwy 331st S

      RETAIL STORES (PERSONAL SERVICES) • 1,978 SF
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    • Value Estimation by Request
      1,800 SF

      141 State Hwy 20th E

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      141 State Hwy 20th E, Freeport, FL 32439
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      19228 Us Highway 331, Freeport, FL 32439
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    • $1,150,000
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      4515 State Highway 20, Freeport, FL 32439

      Commercial real estate • 840 SF
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      Corner Lot Development Site

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      Commercial land with high traffic location on Highway 20.
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    Similar Nearby for Lease

    • $43 SF/Yr

      Retail Space on US-331

      Retail space for lease in Freeport, FL, coming Spring 2026.
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      View Details
    • $43 SF/Yr
      4,890 SF

      Retail Space in Freeport

      Retail space available in a prime Freeport location.
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    • Contact for pricing

      40,000 SF Development Opportunity

      High-visibility commercial development with highway access in a growing market.
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      View Details
    • $4,000 /Mo

      New Retail/Flex Development in Freeport

      Class A retail/flex space available Q1 2026 in Freeport, Florida.
      331 331 Business, Freeport, FL 32439
      View Details
    • $5,875 /Mo
      3,000 SF

      Highway 331 Commercial Building

      3,000 SF building on 1.4 acres available for lease.
      17287 Us Highway 331, Freeport, FL 32439
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    • $5,875 /Mo

      Retail Space on Highway 331

      Retail space available on Highway 331 in Freeport, Florida.
      17287 Us Highway 331, Freeport, FL 32439
      View Details
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    19 State Hwy 20th W
    Freeport, FL 32439-3814
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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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