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    Property profile & analytics

    223 9th St Port St Joe, FL 32456-1923

    • Medical Office Space
    • 1,565 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0052581
    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

    • Medical Office Space

    Property Details for 223 9th St

    Year built
    1974
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    1,565 SF
    Zone code
    R1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    05029-000R
    APU
    05029000R

    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
    Port St Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.2999
    Latitude
    29.8082

    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
    $1,936
    $80,000
    $119,867
    $199,867
    -
    $80,000
    $119,867
    $199,867

    Comparable in this City

    • Value Estimation by Request
      2,480 SF

      300 Long Ave

      MEDICAL BUILDING • 2,480 SF
      300 Long Ave, Port St Joe, FL 32456-1706
      View Details
    • Value Estimation
      $660,000
      2,693 SF

      319 Williams Ave

      MEDICAL BUILDING • 2,693 SF
      319 Williams Ave, Port St Joe, FL 32456-1845
      View Details
    • Value Estimation
      $720,000
      24,664 SF

      3871 Hwy 98

      MEDICAL BUILDING • 24,664 SF
      3871 Hwy 98, Port St Joe, FL 32456-5301
      View Details
    • Value Estimation by Request
      13,550 SF

      212 Us-98

      Medical Office Space • 13,550 SF
      212 Us-98, Port St. Joe, FL 32456
      View Details
    • Value Estimation
      $890,000
      39,551 SF

      220 9th St

      HOMES (RETIRED, NURSING) • 39,551 SF
      220 9th St, Port St Joe, FL 32456-1924
      View Details
    • Value Estimation
      $655,000
      16,478 SF

      141 Kaelyn Ln

      HOMES (RETIRED, NURSING) • 16,478 SF
      141 Kaelyn Ln, Port St Joe, FL 32456-6180
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,700 SF

      Port St. Joe Office Suite

      Second-floor office suite in Port St. Joe, Florida.
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    • $699,000
      1,558 SF

      Mixed-Use Commercial Property Near Reid Avenue

      Mixed-use property in downtown Port St. Joe, one block from Reid Avenue.
      324 Long Ave, Port St Joe, FL 32456
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    • New
      $650,000
      2,490 SF

      Versatile Commercial Space Near Downtown

      Commercial property with flexible layout, ideal for various business uses.
      308 Williams Ave, Port St Joe, FL 32456
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    • Contact for pricing
      1,735 SF

      Port St. Joe Commercial Office

      Flexible office space in a desirable Port St. Joe location.
      212 Highway 98 W, Port St Joe, FL 32456
      View Details
    • $765,000
      2,700 SF

      Mixed-Use Property in Port St. Joe

      Mixed-use property with commercial space and residential retreat in Port.St.Joe.
      316 Long Ave, Port St Joe, FL 32456
      View Details
    • $1,700,000
      4,644 SF

      Commercial Space with Bay Views

      Established commercial space and short-term rental condo with bay views.
      115 Sailors Cove Dr, Port St Joe, FL 32456
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,735 SF

      Highway 98 Office Space Available

      Customizable office suites with high visibility on Highway 98.
      212 Highway 98 W, Port Saint Joe, FL 32456
      View Details
    • $12 SF/Yr

      Port Saint Joe Office Space

      Office suites for lease in Port Saint Joe, Florida.
      212 Highway 98 W, Port Saint Joe, FL 32456
      View Details
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    223 9th St
    Port St Joe, FL 32456-1923
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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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