Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    229 Us Highway 98 Apalachicola, FL 32320
    Back to Search
    Property profile & analytics

    229 Us Highway 98, Apalachicola, FL 32320

    View on Map
    • Retail space
    • 1,251 SF
    • 0.27 lot acres
    For Sale
    $340,000
    View Listing →
    Mixed-Use Commercial Property, Apalachicola For Sale
    $340,000
    1,071 SF

    Mixed-Use Commercial Property, Apalachicola

    High-visibility mixed-use property in Apalachicola, Florida, suitable for investors.

    229 Highway 98, Apalachicola, FL 32320
    View Listing
    Property ID
    US18-8704924
    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

    • Retail space

    Property Details for 229 Us Highway 98

    Year built
    1936
    Construction
    FRAME
    Lot size
    0.27 lot acres
    Property type
    Retail space
    APN
    01-09S-08W-8360-0003-0120
    APU
    0109S08W836000030120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 20, 2024 — John Anthony Phillips JR Ann Mcdaniel Phillips Intrafamily Transfer · related —
    Aug 13, 2024 — Ann Mcdaniel Phillips Ann Mcdaniel Phillips Intrafamily Transfer · related —
    Oct 31, 2023 — John A Phillips Megban Daigle Deed Of Guardian · related —

    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
    Apalachicola
    County
    Franklin
    State
    Florida
    Longitude
    -84.9952
    Latitude
    29.7176

    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
    $1,995
    $160,000
    $23,091
    $183,091
    -
    $160,000
    $23,091
    $183,091

    Comparable in this City

    • Value Estimation
      $715,000
      4,956 SF

      76 Market St

      RETAIL STORES (PERSONAL SERVICES)
      76 Market St, Apalachicola, FL 32320-2708
      View Details
    • Value Estimation
      $1,730,000
      11,749 SF

      Scipio Crk

      RETAIL STORES (PERSONAL SERVICES)
      Scipio Crk, Apalachicola, FL 32320
      View Details
    • Value Estimation
      $645,000
      8,310 SF

      712 Us Hwy 98

      RETAIL STORES (PERSONAL SERVICES)
      712 Us Hwy 98, Apalachicola, FL 32320
      View Details
    • Value Estimation by Request
      5,624 SF

      15 Ave E Ave

      RETAIL STORES (PERSONAL SERVICES)
      15 Ave E Ave, Apalachicola, FL 32320-1721
      View Details
    • Value Estimation by Request
      4,350 SF

      Soda Fountain

      RETAIL STORES (PERSONAL SERVICES)
      Soda Fountain, Apalachicola, FL 32320
      View Details
    • Value Estimation
      $810,000
      3,746 SF

      Apalachicola, FL 32320

      RETAIL STORES (PERSONAL SERVICES)
      Apalachicola, FL 32320
      View Details

    Similar Nearby for Sale

    • $2,000,000
      1.00 Acre

      Apalachicola Commercial Land Opportunity

      Prime commercial land in downtown Apalachicola, Florida.
      30 Avenue G, Apalachicola, FL 32320
      View Details
    • Contact for pricing
      1,750 SF

      Downtown Commercial Space on Highway

      Historic downtown commercial space with multiple potential uses.
      A-51 Market St, Apalachicola, FL 32320
      View Details
    • Contact for pricing
      1,750 SF

      Downtown Apalachicola Commercial Space

      Highly visible commercial space with multiple potential uses.
      51 Market St, Apalachicola, FL 32320
      View Details
    • $659,000
      4,030 SF

      Versatile Commercial Property on Highway 98

      High-visibility commercial property with showroom, offices, and large work area.
      631 Us Highway 98 W, Apalachicola, FL 32320
      View Details
    • $3,000,000
      9,932 SF

      Mixed-Use Commercial Asset in Apalachicola

      Prime commercial property with diverse income streams in historic Apalachicola.
      76 Market St, Apalachicola, FL 32320
      View Details
    View Listing
    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.
    229 Us Highway 98
    Apalachicola, FL 32320
    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
    229 Us Highway 98, Apalachicola, FL, 32320
    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!