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00 Bay Grove Rd 50,625 SF Vacant Flex Building Freeport, FL 32439 $5,500,000 ($108.64/SF)
Investment Highlights
- Proposed 50,625 SF flex development divisible into 25 individual units.
- Flexible configurations for warehouse, office, and showroom use.
- Positioned in Freeport, among the fastest-growing markets in the Florida Panhandle.
- Prime location on US Highway 331 with outstanding visibility and ease of access.
- Designed for light industrial, service-oriented, and business operations.
Executive Summary
Bay Grove Commercial Project
Highway 331 | Freeport, Florida
Listing Price: $5,500,000
Shovel-Ready Commercial Development with Approved Development Order
An exceptional opportunity to acquire a 5.1-acre commercial development site in one of the fastest-growing commercial corridors along Florida's Emerald Coast. The Bay Grove Commercial Project includes a fully approved Development Order for 50,625 square feet of Commercial Flex Space, allowing a purchaser to bypass the lengthy entitlement process and move directly toward construction.
Unlike raw land, this offering provides a fully entitled, construction-ready project with a significantly accelerated timeline to development.
Property Highlights
• 5.1 Acres of prime commercial land
• Fully Approved Development Order for 50,625 SF of Commercial Flex Space
• Approved for 25 Commercial Flex Units
• 147 Parking Spaces
• Dedicated Northbound & Southbound Turn Lanes
• Corner Lot with exceptional visibility
• Approximately 34,000 Average Daily Vehicles (AADT)
• Ample room for contractor storage and laydown yard
• Complete engineering, site planning, and development approvals included
• Construction-ready project with reduced entitlement risk
Positioned in Northwest Florida's Fastest-Growing Commercial Corridor
The Bay Grove Commercial Project is strategically located in the heart of one of Northwest Florida's most active commercial growth areas.
Within approximately three miles, nationally recognized retailers and hospitality brands are investing heavily in the immediate market, including:
• Walmart Supercenter
• Aldi
• Wawa
• Chick-fil-A
• Two nationally branded hotels
These developments are transforming the Highway 331 corridor into the primary commercial hub serving Freeport, South Walton County, and the thousands of residents and visitors traveling between Interstate 10 and Florida's Emerald Coast beaches.
The continued investment by these nationally recognized companies reinforces the long-term strength of the market while creating increasing demand for commercial flex space, contractor services, distribution, and business support operations.
Why Commercial Flex?
Commercial flex space continues to be one of the strongest-performing commercial asset classes due to its versatility and broad tenant appeal. The project has been designed to accommodate a wide variety of businesses, including:
• Contractors
• Building Supply Companies
• HVAC
• Plumbing
• Electrical
• Marine Service Companies
• Distribution & Logistics
• E-Commerce Operations
• Professional Service Businesses
• Light Industrial Users
The combination of flexible unit sizes, abundant parking, excellent highway access, and room for operational storage creates an attractive environment for long-term occupancy and sustained demand.
Time Is Money
The most challenging phase of the development process has already been completed. The approved Development Order allows a purchaser to avoid the lengthy entitlement process and move directly toward permitting and construction.
This significantly reduces development risk while accelerating the timeline to revenue generation compared to acquiring raw commercial land.
Location Advantages
• Prime U.S. Highway 331 frontage
• Highly visible corner location
• Dedicated northbound and southbound turn lanes
• Approximately 34,000 Average Daily Vehicles
• Minutes from Highway 20
• Approximately 2.8 miles from the new Walmart Supercenter
• Surrounded by rapidly expanding residential communities
• Located within one of Florida's fastest-growing commercial markets
Ideal For
• Commercial Developers
• Private Equity Groups
• REITs
• Family Offices
• 1031 Exchange Buyers
• Institutional Investors
• Commercial Flex Developers
• Owner-Users seeking a headquarters with laydown yard capability
A Rare Investment Opportunity
Fully entitled commercial development sites of this caliber are becoming increasingly scarce throughout Walton County. With an approved Development Order, premium Highway 331 frontage, dedicated northbound and southbound turn lanes, a highly visible corner location, 147 parking spaces, and proximity to major national retailers, the Bay Grove Commercial Project offers a unique opportunity to accelerate development in one of the Emerald Coast's strongest growth markets.
Listing Price: $5,500,000
Acquire today. Build tomorrow. Capitalize on the continued growth of the Highway 331 corridor.
Property Facts
| Price | $5,500,000 | Lot Size | 5.06 AC |
| Price Per SF | $108.64 | Construction Status | Proposed |
| Sale Type | Investment or Owner User | Rentable Building Area | 50,625 SF |
| Property Type | Flex | No. Stories | 1 |
| Property Subtype | Showroom | Year Built | 2027 |
| Building Class | B | Cross Streets | US HWY 331 |
| Zoning | GC - General Commercial | ||
| Price | $5,500,000 |
| Price Per SF | $108.64 |
| Sale Type | Investment or Owner User |
| Property Type | Flex |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 5.06 AC |
| Construction Status | Proposed |
| Rentable Building Area | 50,625 SF |
| No. Stories | 1 |
| Year Built | 2027 |
| Cross Streets | US HWY 331 |
| Zoning | GC - General Commercial |
Amenities
- 24 Hour Access
- Wheelchair Accessible
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Proposed for development along US Highway 331 at Bay Grove Road, a 25-unit flex building totaling 50,625 square feet will soon bring exceptional versatility to Freeport’s commercial landscape. The design concept emphasizes modern functionality with spaces suited for warehouse, office, and showroom operations, providing adaptability for diverse business models—from light industrial to service-based enterprises. Set along one of the busiest commercial corridors in the region, the property delivers unmatched visibility and superior highway access, enhancing operational efficiency and customer connectivity. With Freeport’s growth driving demand for quality flex space, this development offers businesses a timely solution to secure a location in a limited-supply market. Reserve your future today in a project that combines modern design, practical layouts, and strategic positioning.
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 50,625 SF | Flex | Shell Space | Sep 2027 |
1st Floor
| Size |
| 50,625 SF |
| Space Use |
| Flex |
| Build-Out |
| Shell Space |
| Available |
| Sep 2027 |
1st Floor
| Size | 50,625 SF |
| Space Use | Flex |
| Build-Out | Shell Space |
| Available | Sep 2027 |
Proposed for development along US Highway 331 at Bay Grove Road, a 25-unit flex building totaling 50,625 square feet will soon bring exceptional versatility to Freeport’s commercial landscape. The design concept emphasizes modern functionality with spaces suited for warehouse, office, and showroom operations, providing adaptability for diverse business models—from light industrial to service-based enterprises. Set along one of the busiest commercial corridors in the region, the property delivers unmatched visibility and superior highway access, enhancing operational efficiency and customer connectivity. With Freeport’s growth driving demand for quality flex space, this development offers businesses a timely solution to secure a location in a limited-supply market. Reserve your future today in a project that combines modern design, practical layouts, and strategic positioning.
Property Taxes
| Parcel Number | 03-2S-19-24000-003-0000 | Improvements Assessment | $0 |
| Land Assessment | $748,761 | Total Assessment | $748,761 |
Property Taxes
Contact the Sale Advisor
00 Bay Grove Rd