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

    6422 Grassy Point Rd Southport, FL 32409

    • Commercial real estate
    For Sale
    View listing
    $4,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9920155
    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 6422 Grassy Point Rd

    Property type
    Commercial real estate

    Description

    This exceptional 950,915 square foot vacant land parcel in Southport, Florida, presents a unique investment opportunity. Located at 6422 Grassy Point Road, this property is ideally suited for the development of a thriving RV park and marina. The project is fully engineered, with construction bids already secured, significantly reducing development timelines and risk. A Development Order is in place, streamlining the permitting process. Plans include 128 RV slips, a full-service marina featuring two 600-foot by 8-foot docks with 20 covered slips, and ample space for day and pontoon boat rentals. Amenities will cater to a resort-style experience, including a swimming pool, clubhouse, and a white sand beach. The property's location in Bay County, Florida, zip code 32409, offers easy access to local attractions and boasts stunning waterfront views. The asking price for this turnkey development opportunity is $4,400,000. This is a rare chance to acquire a fully prepared site ready for immediate development, promising significant returns on investment. The property's size and comprehensive planning make it an attractive proposition for experienced developers seeking a high-potential venture in a desirable location.

    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
    Southport
    County
    Bay
    State
    Florida
    Longitude
    -85.6380811
    Latitude
    30.2671703

    Comparable in this City

    • $1,580,000
      8.37 Acres

      Southport, FL Commercial Land

      Commercial land entitled for flex warehouse development in Southport, FL.
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    • $499,000
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      Waterfront Lot with New Barndo

      1.5-acre waterfront lot with dock and new barndo.
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    • $400,000

      Southport Commercial Land

      4.4-Acre Prime Bay County Lot
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    • $745,000

      Highway 77 Commercial Land

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    • $895,000

      Highway 77 Commercial Land

      7.9-Acre Commercial Lot, Southport, FL
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    • $499,000
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      Panama City Land For Sale

      3.1 acres of land available for home development.
      7602 Resota Bch, Panama City, FL 32409
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    Similar Nearby for Sale

    • $1,580,000
      8.37 Acres

      Southport, FL Commercial Land

      Commercial land entitled for flex warehouse development in Southport, FL.
      9322 Fl-77, Southport, FL 32409
      View Details
    • $499,000
      Pending

      Waterfront Lot with New Barndo

      1.5-acre waterfront lot with dock and new barndo.
      7212 Washington Ave, Panama City, FL 32409
      View Details
    • $400,000

      Southport Commercial Land

      4.4-Acre Prime Bay County Lot
      11902 Highway 77, Panama City, FL 32409
      View Details
    • $745,000

      Highway 77 Commercial Land

      2+ Acres, High Traffic, C3 Zoning
      7401/7415 Highway 77, Southport, FL 32409
      View Details
    • $895,000

      Highway 77 Commercial Land

      7.9-Acre Commercial Lot, Southport, FL
      11902 Highway 77, Panama City, FL 32409
      View Details
    • $499,000
      3.10 Acres

      Panama City Land For Sale

      3.1 acres of land available for home development.
      7602 Resota Bch, Panama City, FL 32409
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
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      Southport, FL Commercial Property

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      13636 Highway 77, Southport, FL 32409
      View Details
    • $18 SF/Yr
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      Former Gym Available For Lease

      4,400 SF former gym space, divisible into two suites.
      2423-2499 Highway 77, Panama City, FL 32409
      View Details
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    6422 Grassy Point Rd
    Southport, FL 32409
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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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