3831 Highway 77Chipley, FL 32428

Property Details for 3831 Highway 77

Year built

1984

Lot size

3.00 AC

Property size (Sq ft)

864 SF

Property type

Office buildings

APN

38290006

APU

38290006

Description

This exceptional 3-acre commercial property in Chipley, Florida, presents a lucrative income-producing opportunity. Boasting approximately 384 feet of frontage on Highway 77, a road currently undergoing significant expansion, this location benefits from high visibility and substantial traffic. The Florida Department of Transportation reported an AADT of 5,300 vehicles in 2023. The property includes an 864-square-foot renovated block building currently operating as a one-bedroom, one-bathroom rental house. Also included is a substantial 3,000+ square-foot, three-bay garage featuring an office, two 11,000-pound capacity two-post lifts, an industrial air compressor, and a bathroom. A 50' x 25' pole barn adds further versatility. This rapidly developing area of Washington County sees numerous new homes under construction and many more planned in neighboring communities, along with other large-scale construction projects. The property's convenient location offers easy access to I-10 to the north and the Emerald Coast beaches to the south. The existing structures offer multiple possibilities, from a live-work arrangement to various commercial ventures. The ample space allows for expansion, additional construction, or utilization of the existing buildings for a diverse range of businesses. The potential for growth and diverse uses makes this a truly unique investment opportunity. Inquiries regarding adjacent parcels are welcome.

• CAP approach

  CAP return

  Valuation

  6%

  $120,165

  6.5%

  $110,921

  7%

  $102,998

• Comparable approach

  Method

  Valuation

  Relative Method

  $61,422

  Geo Method

  $61,422

• Alternative Use

  Use

  Valuation

  Residential

  $137,542

  Hospitality

  $125,988

  Educational

  $104,821

  Medical

  $108,425

  Retail

  $163,054

Location Insight

City

Chipley

County

Washington

State

Florida

Latitude

30.6146

Longitude

-85.5943

Property Tax & Assessments

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