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

    362 Patton Dr Eastpoint, FL 32328

    • Commercial real estate
    For Sale
    View listing
    $1,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6619643
    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 362 Patton Dr

    Property type
    Commercial real estate

    Description

    This exceptional $1,000,000 commercial property in Eastpoint, Florida, presents a unique investment opportunity. Located at 362 Patton Drive, this special-purpose property encompasses two parcels totaling 23,087 square feet, offering significant waterfront development potential. The expansive site boasts 331 feet of waterfront access and 279 feet of road frontage, ensuring excellent visibility and accessibility. Water depths range from 65 feet at the narrowest point to 97 feet at its widest, providing ample space for various water-dependent uses. The property's strategic location offers protection from the elements, sheltered by the St. George Sound Barrier. This prime location in Franklin County, Florida, zip code 32328, is ideal for a diverse range of commercial ventures, including a marina, boat storage facility, waterfront restaurant, or similar development. The property's size and features make it an attractive proposition for investors seeking a high-return waterfront investment in a desirable coastal location. The coordinates are 29.736158 latitude and -84.878814 longitude. This is a rare opportunity to acquire a substantial waterfront property with significant development potential.

    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
    Eastpoint
    County
    Franklin
    State
    Florida
    Longitude
    -84.878814
    Latitude
    29.736158

    Comparable in this City

    • $850,000

      Unique Commercial Property with Bay Frontage

      Commercial property with road and bay frontage, investor opportunity.
      326 Patton Dr, Eastpoint, FL 32328
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      Gulf Front Dream Beach Retreat

      Gulf-front lot in Casa Del Mar, Plantation on St. George Island.
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    • $649,999

      Eastpoint Warehouse with Fenced Yard

      5000 sq ft warehouse suitable for storage and work.
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      Eastpointe, FL Land For Sale

      Residential land in Eastpointe, Florida, with community amenities.
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      Eastpoint Wooded Lot for Sale

      1.09 acre wooded lot ideal for custom home.
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      St. George Island Residential Lot

      Vacant lot near beaches, ideal for vacation home or rental.
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    Similar Nearby for Sale

    • $850,000

      Unique Commercial Property with Bay Frontage

      Commercial property with road and bay frontage, investor opportunity.
      326 Patton Dr, Eastpoint, FL 32328
      View Details
    • $739,900

      Gulf Front Dream Beach Retreat

      Gulf-front lot in Casa Del Mar, Plantation on St. George Island.
      2258 Sailfish Dr, Eastpoint, FL 32328
      View Details
    • $649,999

      Eastpoint Warehouse with Fenced Yard

      5000 sq ft warehouse suitable for storage and work.
      90 Otter Slide Rd, Eastpoint, FL 32328
      View Details
    • $52,500
      1.01 Acres

      Eastpointe, FL Land For Sale

      Residential land in Eastpointe, Florida, with community amenities.
      375 Gramercy Plantation Rd, Eastpoint, FL 32328
      View Details
    • $89,000
      1.09 Acres

      Eastpoint Wooded Lot for Sale

      1.09 acre wooded lot ideal for custom home.
      S Bayshore Dr, Eastpoint, FL 32328
      View Details
    • $209,000
      0.34 Acres

      St. George Island Residential Lot

      Vacant lot near beaches, ideal for vacation home or rental.
      708 W Pine St, Eastpoint, FL 32328
      View Details
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    362 Patton Dr
    Eastpoint, FL 32328
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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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