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    8010 Highway 98 West Port St Joe, FL 32456
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    Property profile & analytics

    8010 Highway 98 West Port St Joe, FL 32456

    View on Map
    • Hotels
    • 8,717 SF
    • 0.94 lot acres
    For Sale
    $5,350,000
    View Listing →
    St. Joe Beach Development Site For Sale
    $5,350,000

    St. Joe Beach Development Site

    2.8-acre development site zoned for hotel/motel use.

    Port Saint Joe, FL 32456
    View Listing
    Property ID
    US18-6157069
    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

    • The Blu at SJB / Hotel & Motel

    Property Details for 8010 Highway 98 West

    Year built
    1959
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.94 lot acres
    Property size
    8,717 SF
    Property type
    Hotels
    APN
    03973-055R
    APU
    03973055R

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,035,000
      ML approach
      $1,760,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Port St Joe
    County
    Gulf
    State
    Florida
    Longitude
    -85.3706
    Latitude
    29.9078

    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
    $14,929
    $783,000
    $686,242
    $1,469,242
    -
    $783,000
    $686,242
    $1,469,242

    Comparable in this City

    • Value Estimation
      $650,000
      2,806 SF

      3155 Hwy 98

      HOTEL • 2,806 SF
      3155 Hwy 98, Port St Joe, FL 32456-4826
      View Details
    • Value Estimation
      $785,000
      39,119 SF

      3951 Hwy 98

      HOTEL • 39,119 SF
      3951 Hwy 98, Port St Joe, FL 32456-5318
      View Details
    • Value Estimation
      $610,000
      15,080 SF

      501 Monument Ave

      HOTEL • 15,080 SF
      501 Monument Ave, Port St Joe, FL 32456-1913
      View Details
    • Value Estimation
      $580,000
      5,916 SF

      505 Monument Ave

      HOTEL/MOTEL • 5,916 SF
      505 Monument Ave, Port St Joe, FL 32456-1913
      View Details
    • Value Estimation
      $1,500,000
      26,072 SF

      2105 Hwy 98

      MOTEL • 26,072 SF
      2105 Hwy 98, Mexico Beach, FL 32456-7171
      View Details
    • Value Estimation
      $2,160,000
      31,845 SF

      1701 Hwy 98

      MOTEL • 31,845 SF
      1701 Hwy 98, Mexico Beach, FL 32456-0295
      View Details

    Similar Nearby for Sale

    • $6,900,000
      24.20 Acres

      24.2 Acres Development Opportunity

      Prime development land between Mexico Beach and Port St. Joe.
      Us-98, Port St Joe, FL 32456
      View Details
    • $2,599,000
      1.00 Acre

      Commercial Land with Gulf Views

      Commercial property with unobstructed beach and Gulf views in Florida.
      9454 Highway 98 W, Port St Joe, FL 32456
      View Details
    • $3,400,000
      17.50 Acres

      Bayfront Development Opportunity in Florida

      17.5-acre approved PUD for mixed-use development.
      Us-98, Port St Joe, FL 32456
      View Details
    • $3,450,000
      17.50 Acres

      Port St. Joe Development Opportunity

      17.5-acre commercial PUD with bay and highway frontage.
      Highway 98, Port St Joe, FL 32456
      View Details
    • $3,700,000
      6.70 Acres

      Bayfront Development Opportunity in Florida

      6.7-acre bayfront land with 14 planned residential lots.
      Us-98, Port St Joe, FL 32456
      View Details
    • $239,000
      0.50 Acres

      Cleared RV Lot with Bay Views

      Half-acre RV-approved lot with bay views in Port St. Joe.
      4330 State Road 30A, 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
    • $16 SF/Yr
      4,495 SF

      Highway 98 Retail Opportunity

      Versatile retail space on Highway 98 in Port St. Joe.
      202 Highway 98 West, Port St Joe, FL 32456
      View Details
    • $850 /Mo
      7,013 SF

      RV Lot For Lease

      RV lot near St. Joe Bay available for lease.
      526 Marlin St, Port St Joe, FL 32456
      View Details
    • $995 /Mo
      7,013 SF

      Port St. Joe RV Lot

      RV lot for lease near St. Joe Bay.
      534 Marlin St, Port St Joe, FL 32456
      View Details
    View Listing
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    Port St Joe, FL 32456
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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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    8010 Highway 98 West, Port St Joe, FL, 32456
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