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Development opportunities with this combination of acreage, zoning, frontage, and location are becoming increasingly difficult to find in the rapidly expanding City of Freeport. Positioned directly in front of the new Bourbon Street Townhouse Development Project, this 2.06-acre High Density Residential (R-3) property presents an exceptional opportunity for investors, builders, developers, and entrepreneurs seeking to capitalize on one of the area's fastest growing corridors.
Featuring approximately 302 feet of paved frontage along Business 331, this property offers both visibility and accessibility while providing substantial future development potential. Zoned High Density Residential (R-3), allowable density provides for up to eight single-family dwelling units per acre or up to fourteen duplex, triplex, quadruplex, or townhouse dwelling units per acre, creating multiple paths for future development and income-producing opportunities.
Currently situated on the property is an approximately 1,884 square foot residence offering 3 bedrooms, 2 bathrooms, existing utilities, spacious living areas, abundant natural light, and functional space that allows immediate occupancy, rental income potential, office space, or interim use while development plans take shape. The property additionally features a detached building with substantial storage area, garage space, and carport coverage while the unrestricted acreage allows flexibility rarely found within city limits. Park boats, RVs, equipment, work vehicles, or construct additional improvements without HOA restrictions.

Strategically located within Freeport city limits and less than two miles from all three Freeport schools, this central location provides convenient access throughout Walton County while remaining approximately 12 miles from the Emerald Coast beaches. Destin, Niceville, DeFuniak Springs, shopping, dining, boating, charter fishing, Crab Island, and entertainment destinations remain within easy reach.

Property highlights include:
*2.06 acres within Freeport city limits
*Approximately 302 feet of paved frontage on Business 331
*Zoned High Density Residential (R-3)
*Existing utilities already in place
*Flood Zone X
*No wetlands per Walton County GIS mapping
*Detached storage building, garage, and carport
*No HOA restrictions
*Directly adjacent to an active area of residential growth and development

Whether your objective is redevelopment, residential density opportunities, income-producing investment, land banking, business use, or long-term appreciation potential, this property offers flexibility and scale rarely available within the growing Freeport market.

Buyer to verify all information deemed important including zoning, density allowances, land use, dimensions, utilities, development potential, and future use possibilities.

Freeport

14162 331 Business Highway

3 Beds

2 Baths

1,884 Sq.Ft.

$649,900

MLS#: 1005028

The ROSES V G in Bird Song at Hammock Bay community offers a 3BR/2BA, open and split design with flex space and computer desk/niche. Upgrades added (list attached). Features: double vanity, garden tub, separate custom tiled shower, and 2 walk-in closets in master bath, tray ceiling in master bed, kitchen island, walk-in pantry, covered porches, undermount sinks, crown molding, LED lighting, smart connect WIFI thermostat, framed mirrors in all baths, landscaping package, architectural 30-year shingles, flood lights, and more! Energy Efficient Features: water heater, kitchen appliance package, vinyl low E windows, and more! Energy Star Partner.

Freeport

17 E Tweet Street

3 Beds

2 Baths

1,925 Sq.Ft.

$469,691

MLS#: 1005074

Prime commercial opportunity! This warehouse features an air- conditioned office space office space, excellent road frontage on John Simms Parkway, and outstanding visibility for your business. with easy access and versatile warehouse functionality, this property is ideal for distribution, storage, service operations, or a growing business looking for a strategic location. Don't miss this opportunity to own a highly visible commercial property in a prime location.

Valparaiso

60 S John Sims Parkway

None Beds

None Baths

N/A

$489,000

MLS#: 1005022

Crestview

5745 Dearing Street

4 Beds

3 Baths

1,968 Sq.Ft.

$349,900

MLS#: 1005078

Milton

5228 Josacs Trail

None Beds

None Baths

4.34 acres

$120,000

MLS#: 1005032

Santa Rosa Beach

2 Birmingham Street

None Beds

None Baths

0.17 acres

$925,000

MLS#: 1005039

Santa Rosa Beach

383 Matts Way

3 Beds

4 Baths

3,004 Sq.Ft.

$2,100,000

MLS#: 1004981

#1005018

Miramar Beach

1001 Scenic Gulf UNIT D

4 Beds

3 Baths

1,852 Sq.Ft.

$1,600,000

MLS#: 1005018

Enjoy breathtaking water views from every floor of this beautifully positioned waterfront townhome. Designed with flexibility in mind, this property offers multiple possibilities for full-time living, vacation use, or income production. The spacious layout can accommodate separate living areas, making it ideal for multi-generational living or maximizing rental potential. An additional top-floor bonus room provides the perfect space for a home office, bunk room, hobby area, or guest accommodations. Whether you're looking for a primary residence, second home, or investment property, this townhome offers the versatility to fit your needs. Short-term rentals are permitted, creating an excellent opportunity for additional income. Located adjacent to the City's newly completed boat launch facility, this property is perfectly situated for boating enthusiasts. There is also the potential to obtain a private boat slip at the neighboring marina, with accommodations for boats up to 35 feet.

Panama City

306 Penny Court

4 Beds

4 Baths

1,850 Sq.Ft.

$565,000

MLS#: 1004979

Freeport

264 Johns Lane

4 Beds

2 Baths

2,918 Sq.Ft.

$419,000

MLS#: 1005019

4 Bedrooms 2.5 Baths *2 CAR GARAGE * Covered Entry * Laminate flooring throughout Except Tile in Master Bath & Carpet in Bedrooms * Master Suite Features: Builder's Signature Zero Entry All Tile Walk in Shower, Separate Soaking Tub, Double Vanities & Huge Walk-in Closet *Kitchen Features: Granite Countertops, Large Island, White Shaker Style Cabinets, Stainless Steel Appliances & Walk in Pantry * Breakfast Cafe *Covered Rear Lanai * 2x6 Exterior Construction * Builder Warranty Included *

Navarre

7346 Noah Street

4 Beds

3 Baths

2,331 Sq.Ft.

$474,950

MLS#: 1005008

Welcome to Hideaway Shores, an exceptional development opportunity featuring 16 ready-to-build homesites in a prime coastal location. With plans available and infrastructure in place, this project offers a streamlined path from acquisition to construction.

Ideally situated near two public beach access points, future homeowners will enjoy convenient access to the sugar-white sands and emerald waters that make this area so desirable. Whether you're a builder seeking your next residential project or an investor looking for a high-demand coastal development, Hideaway Shores presents a rare opportunity to capitalize on the area's continued growth.

With limited inventory of build-ready land this close to the beach, Hideaway Shores combines location, convenience, and development potential in one attractive package. Plans available upon request.

Santa Rosa Beach

124 Sea Croft Drive

None Beds

None Baths

4.0 acres

$6,249,000

MLS#: 1004994

Destin

1006 Highway 98 unit 431

3 Beds

2 Baths

1,028 Sq.Ft.

$485,000

MLS#: 1004903

The Sanctuary is a 60-acre, 83 lot master planned residential community in Lynn Haven, Florida, located just east of Hwy 77 and south of McCormick Rd with the southern boundary fronting the North Bay. Lynn Haven is part of the Panama City Metropolitan Statistical Area (MSA) which includes Panama City Beach and the surrounding Bay and Gulf Counties.

Panama City Beach

X Daffin Lake Road

None Beds

None Baths

60.0 acres

$4,150,000

MLS#: 1004985

Build your dream home on this beautiful 1-acre parcel located on the 8100 Block of Durand Ave! Offering a peaceful setting with plenty of privacy, this property is ideal for a small home, weekend retreat, or investment opportunity. The front portion of the lot provides usable space for building, while the back half of the property is designated wetlands, creating a natural buffer and added privacy. A regular survey and wetlands survey are already available for buyer convenience. Enjoy the feel of country living while still being within reach of nearby amenities, shopping, and dining. Bring your builder and start planning your future today!

Pensacola

8100 BLK Durand Avenue

None Beds

None Baths

1.0 acres

$50,000

MLS#: 1004997

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