Lot 7 Pisces Drive
About This Property
A significant value-add, wetland mitigation was completed in November 2022, helping save future buyers both time and expense. Surveys are available, and house plans are also available for purchase, providing an opportunity to streamline the building process and bring your vision to life more quickly.
Bay Pine Shores is a small, HOA-restricted community with low annual dues of just $125 per year and no required build-out timeline, allowing you to build at your own pace. Conveniently located just off Chat Holly Road, less than a mile from Highway 331, and only minutes from the white-sand beaches, dining, shopping, and entertainment of South Walton and 30A, you'll enjoy the perfect balance of accessibility and tranquility.
Large homesites of this size have become increasingly difficult to find in Santa Rosa Beach. For those seeking even more space, the adjacent Lot 6 (MLS 1003911) is also available for purchase, creating the opportunity to own approximately 1.26 acres combined.
Don't miss this rare opportunity to secure one of the largest remaining homesites in Bay Pine Shores and build the coastal lifestyle you've been dreaming of.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 5, 2026 | Listed by Keller Williams Realty SRB | $245,000 | |
| Listed by Keller Williams Realty SRB | |||
| Aug 21, 2020 | No longer available | - | |
| No longer available | |||
| Jul 5, 2020 | Listed | $250,000 | |
| Listed | |||
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Beautiful Bayview lot located in the quiet Bay Pines community in Santa Rosa Beach. This property is a great location for building your custom home providing unobstructed bay views and over 200 ft of water frontage. This is the perfect location for anyone seeing privacy with lush landscape and county park land adjacent that can never be built on. Paddle or boat right from your property to the Choctawhatchee Bay! Call your agent for more details including a completed wetland delineation, survey, sellers disclosure, and setback requirements.
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| Mar 9, 2020 | No longer available | - | |
| No longer available | |||
| Oct 4, 2019 | Price Decreased |
$199,999
↓ $85K
(29.8%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017