225 Jolly Bay Road
About This Property
The parcel previously had a 3 bed/2ba (1,380 sqft) dwelling that was demolished in September of 2020. City water is available, tap is paid. Sewer is also available, tap fee is due. There may also be an old well and/or septic on the property. It will be buyer responsibility to complete due diligence to confirm existence and usability of any of the existing utilities.
Zoned Rural Village, allows for auxiliary dwellings. NO FLOOD insurance required and No Wetlands per GIS mapping.
Easy access to Hwy 331 bridge with NO TOLLS. Conveniently located approx. 5 miles from Hwy 98 with easy access between Destin and Panama City Beach.
Spend your weekends enjoying the endless array of outdoor activities and water sports, some including (fresh or salt water) fishing and convenient parks for hiking and exploring. Plenty of space for all your fun recreational toys! Multiple public boat ramps nearby!
Only 10 minutes to Publix grocery store and approximately 15-20 minutes from some of the most beautiful white sandy beaches on Florida's Emerald Gulf Coast. Take advantage of the close proximity to fabulous shopping and restaurants on 30A, and the World-famous Crab Island.
All Information and dimensions to be verified by the buyer. The buyer is responsible to verify with county and/or local resources to ensure they can do what they want to with the property. Buyer responsible to verify existence of all utilities, if any.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017