Prime Freeport Residential & Commercial Development Opportunity

At Ocean Reef Real Estate Sales, we have long helped clients invest in prime Gulf Coast properties that serve both as personal vacation homes and lucrative rental opportunities. While many focus on properties in Destin, Miramar Beach, Scenic 30A, and Panama City Beach, some savvy investors are now turning their attention to Freeport—a rapidly growing town just across the bay.

We are excited to present a fantastic development opportunity at 15348 US Highway 331 Bus in Freeport. This parcel of land, priced competitively at $1,299,000, offers 5.39 acres (234,788 square feet) of residential and commercial-zoned property. Mostly cleared with a portion of forested pine trees, the land also includes a woodworking shed and a storage building that conveys with the sale. Its prime location on the business loop of US Highway 331, just north of Highway 20, places it at the heart of Freeport's growth and development.

Freeport has transformed dramatically over the past two decades, benefiting from the explosion of growth in southern Walton County along Scenic 30A. Developments such as WaterColor, WaterSound, Alys Beach, and Rosemary Beach have fueled the area's rise, with opulent homes now averaging around $1.5 million. This surge in property taxes has funded significant infrastructure improvements in Freeport, including new schools, fire stations, and government facilities—making it highly appealing for families and investors alike. Today, Freeport is the fastest-growing community in Walton County and one of the top growth areas in Florida.

This property offers immense flexibility for development, with zoning that allows for a variety of commercial and residential uses. Commercial options include professional offices, medical facilities, restaurants, retail outlets, and storage units. Residential possibilities are equally attractive, with the potential to build income-generating apartment complexes. Rental rates in Freeport currently range from $1,500 to $3,000 per month for 1-3 bedroom units, making this an appealing option for developers.

The property is located across the street from Freeport Elementary School, with several nearby residential complexes, including The Palms of Freeport and The Verandas. Nearby amenities include a community park with sports facilities, two churches, and local businesses such as a veterinary clinic, bakery, and Dollar Store. The 5.39 acres are comprised of two parcels (5.15 acres and 0.24 acres), and a full property map is available upon request.

Priced at just $5.53 per square foot, this parcel represents an exceptional value compared to other listings in the area. For example, a nearby 1.82-acre property is listed for $1,300,000, while a 1.59-acre parcel is priced at $1,600,000—over four times the cost per square foot.

If you're looking for a competitively priced, high-potential investment opportunity in a booming area, this Freeport property is worth serious consideration. Contact Ocean Reef Real Estate Sales at (877) 392-6085 for more details, or visit Walton County's Planning and Zoning office for further due diligence. We're here to help you take advantage of this exciting opportunity.