$4,000,000
Freeport, FL 32439
MLS# 989106
1 / 21
Property Description
Introducing an exceptional opportunity to own a prime piece of real estate in the rapidly growing city of Freeport, Florida. This expansive 11.44-acre property, consisting of two combined parcels, is ideally situated along US Highway 331 and is zoned R-3 for multi-family use. The property comes with a Development Order (D.O.) approved for 128 apartment units, along with building plans and surveys offering a rare, shovel-ready opportunity ideal for developers and investors alike. The location provides excellent visibility and accessibility along the bustling US Hwy 331 corridor, surrounded by a mix of residential and commercial growth.
Details
Contract Info
Listing Board: Emerald Coast
List Price/Acre: 349650.35
List Date: 2025-11-06
List Price: $4,000,000
Location, Tax and Legal
Sub Area: 2007 - Bay Grove
Elementary School: Freeport
Middle School: Freeport
High School: Freeport
Legal Description: See document for legal description due to length.
General Property Info
Sub-Type: Vacant Land
Acreage: 11.44
Listing Info, Tax & Legal
Is Subject Leased: No
Assessment Fees: No
New Buyer Fee: No
Brokerage Interest: Ownership Interest - Listing Broker/Salesperson has ownership interest in the property.
As Is: Yes
Remarks & Misc
Remarks: Introducing an exceptional opportunity to own a prime piece of real estate in the rapidly growing city of Freeport, Florida. This expansive 11.44-acre property, consisting of two combined parcels, is ideally situated along US Highway 331 and is zoned R-3 for multi-family use. The property comes with a Development Order (D.O.) approved for 128 apartment units, along with building plans and surveys offering a rare, shovel-ready opportunity ideal for developers and investors alike.
The location provides excellent visibility and accessibility along the bustling US Hwy 331 corridor, surrounded by a mix of residential and commercial growth.
Utilities
Public Sewer: 1
Public Water: 1
Zoning
Resid Multi-Family: 1
Financing
Conventional: 1
None
Current Price: $4,000,000
Status Change Info
Status: Active
Location Tax and Legal
Street #: 14874
Street Name: US-331 BUS
Area: 20 - Freeport
State: FL
Zip Code: 32439
County: Walton
Project Name/Subdivision: The Oaks of Freeport
Parcel ID: 10-1S-19-23000-004-0020
Property Features
Zoning: Resid Multi-Family
Utilities: Public Sewer; Public Water
Financing: Conventional
Supplements
Just minutes from downtown Freeport, local schools, shopping, and essential services, the property is also within easy reach of the beautiful Beaches of South Walton, Interstate 10, and Highway 98.
This is a prime development opportunity in one of Walton County's fastest-growing markets, where the demand for quality multi-family housing continues to rise. Inquire today to learn more. Buyer to verify all information deemed important.
Listing Office: Corcoran Reverie SRB
Last Updated: November - 06 - 2025
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
