Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    799 Main St Chipley, FL 32428-1538

    • Theaters & concert halls
    • 3,252 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4364616
    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

    • Theaters & concert halls

    Property Details for 799 Main St

    Year built
    1901
    Lot size
    0.08 lot acres
    Property size
    3,252 SF
    Property type
    Theaters & concert halls
    APN
    13690000
    APU
    13690000

    Description

    This unique 4,624 square foot special purpose property, located at 799 Main Street in Chipley, Florida, presents a remarkable investment opportunity. Built in 1901, the building boasts a rich history as the Vance Theatre, now thoughtfully repurposed as a versatile event venue. The property sits on a 4,791.6 square foot lot in the heart of downtown Chipley, benefiting from an average daily traffic count of 12,000 vehicles (according to 2022 DOT data). The interior retains much of its original architectural charm, including soaring exposed wood beam ceilings, original brick walls, and ornate detailing. A spacious auditorium provides ample room for a variety of events. Modern amenities have been incorporated into the lovingly restored building, making it ideal for a wide range of business uses. This property offers a rare chance to own a piece of Chipley's history and establish a thriving enterprise in a high-traffic location. The asking price is $249,999. The property's zip code is 32428, located in Washington County, Florida.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chipley
    County
    Washington
    State
    Florida
    Longitude
    -85.5384
    Latitude
    30.7815

    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
    $762
    $6,800
    $30,079
    $36,879
    -
    $6,800
    $30,079
    $36,879

    Comparable in this City

    • Value Estimation
      $595,000
      20,412 SF

      1424 Jackson Ave

      ARENA, CONVENTION CENTER • 20,412 SF
      1424 Jackson Ave, Chipley, FL 32428-1628
      View Details
    • Value Estimation
      $290,000
      1,890 SF

      863 Hwy 90

      ARENA, CONVENTION CENTER • 1,890 SF
      863 Hwy 90, Chipley, FL 32428-8794
      View Details
    • Value Estimation
      $310,000
      2,220 SF

      677 Griffin Rd

      AUDITORIUM • 2,220 SF
      677 Griffin Rd, Chipley, FL 32428-4106
      View Details
    • Value Estimation by Request

      000 Elkcam Blvd

      Land
      000 Elkcam Blvd, Chipley, FL 32428
      View Details
    • Value Estimation by Request

      00 Chamberlain Dr

      Specialty properties
      00 Chamberlain Dr, Chipley, FL 32428
      View Details
    • Value Estimation by Request
      7,984 SF

      4135 Pine Log Rd

      Commercial real estate • 7,984 SF
      4135 Pine Log Rd, Chipley, FL 32428
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Golf Course Lot in Chipley

      Golf course adjacent lot in a growing community near Chipley.
      Vicki Ct, Chipley, FL 32428
      View Details
    • $325,000
      3,150 SF

      Prime Chipley Commercial Building

      High-visibility Main Street location, 3150 sq ft.
      615 Main St, Chipley, FL 32428
      View Details
    • Contact for pricing
      0.23 Acres

      Residential Land in Sunny Hills

      Land in Chipley, deed restricted to site-built homes.
      Glenridge, Chipley, FL 32428
      View Details
    • Contact for pricing
      Pending

      Residential Lot in Sunny Hills

      Residential lot in Chipley, near beaches and golf course.
      0413 Hernando Pl, Chipley, FL 32428
      View Details
    • Contact for pricing
      0.26 Acres

      Land in Sunny Hills, Chipley

      0.26-acre land in Sunny Hills, near Panama City.
      Brunswick Dr, Chipley, FL 32428
      View Details
    • Contact for pricing
      Pending

      Residential Land in Chipley, Florida

      Land for sale in a quiet, rural Chipley subdivision.
      Hampshire Blvd, Chipley, FL 32428
      View Details
    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.
    799 Main St
    Chipley, FL 32428-1538
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.