1001 Hwy 98 E, Carrabelle, FL 32322
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1001 Hwy 98 E, Carrabelle, FL 32322
1001 Hwy 98 E, Carrabelle, FL 32322
1001 Hwy 98 E, Carrabelle, FL 32322
1001 Hwy 98 E, Carrabelle, FL 32322
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Debbie Kirkland

Debbie Kirkland

+1(850) 212-0440
$ 829,000
Est. payment /mo
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Active

1001 Hwy 98 E Carrabelle, FL 32322

3,060 SqFt

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 3,060 sqft

Price per Sqft $270

Subdivision Kellys Plat

MLS Listing ID 325048

HOA Y/N false

Year Built 1996

Annual Tax Amount $4,220

Tax Year 4220

Lot Size 0.731 Acres

Lot Dimensions 31833

Property Description

Cole's Lodge presents a rare opportunity to acquire a proven, income-producing coastal lodging business in the heart of Carrabelle. This turnkey operation includes all FF&E, the established business entity, website, branding, and goodwill, offering a seamless transition for an investor or owner-operator seeking immediate cash flow in a supply-constrained market. The property features eight units—seven 1BR/1BA suites and one 2BR/1BA unit (one unit will need interior construction completed), along with two additional RV sites (one 30-amp and one 50-amp), each with water and sewer connections. The RV sites are currently not included in the financial projections, offering meaningful upside for a buyer looking to expand revenue streams with minimal additional investment. Cole's Lodge has been thoughtfully updated and is positioned to capture the steady demand generated by anglers, eco-tourists, contractors, and Forgotten Coast travelers seeking clean, convenient accommodations. Its location on Highway 98 offers excellent visibility and easy access to downtown Carrabelle, the public boat ramp, marinas, and the beaches of St. George Island. Based on conservative occupancy assumptions and an occupancy rate of 47% (AirDNA reports the Carrabelle submarket averages 49%), the projected Year-1 rental income is approximately $131,955, with an estimated Net Operating Income of $88,718. These figures are projections only and are available upon request. These projections do not include income from the two RV sites, which represent additional revenue potential for the next owner. Whether you're expanding a hospitality portfolio or stepping into your first owner-operator venture, Cole's Lodge delivers a compelling blend of stability, scalability, and coastal charm. Opportunities like this—an established business with strong branding, multiple income channels, and room to grow—rarely come to market along the Forgotten Coast.

Location

State FL

Zoning Commercial

Interior

Heating See Remarks

Cooling See Remarks

Flooring Luxury Vinyl, Slate, Tile

Exterior

Community Features BBQ Pit/Grill, Cable TV, Picnic Area, See Remarks

Utilities Available Electricity Connected, Internet Available, Phone Connected, Sewer Connected, Water Connected

Roof Type Metal

Building

Lot Description Aerials Available, Corner Lot, Rural District, Wooded

Story 2

Sewer Public Sewer

Level or Stories 2

Stories 2

Floor Plan 2

Others

Special Listing Condition As Is

Listed by St George Island Realty, Llc
Debbie Kirkland

Debbie Kirkland

Broker License ID: BK3052075

+1(850) 212-0440

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1001 Hwy 98 E