1001 Hwy 98 E Carrabelle, FL 32322
| Property Type | Real Estate & Business |
| Status | Active |
| Price | $829,000 |
| Waterfront | No |
| Water View | No |
| Approximate Acreage | 0 |
| Days On Market | 74 |
| Heated & Cooled SqFt. | 3060 |
| Price Per SqFt. | Approx. $270.9 |
| Subdivision | Kellys Plat |
| SubArea | Carrabelle |
| Year Built | 1996 |
| Ownership | As Is |
| Exterior Construction | Frame |
1001 Hwy 98 E Carrabelle, FL 32322
Remarks at 1001 Hwy 98 E Carrabelle, FL - 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 unitsâseven 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 thisâan established business with strong branding, multiple income channels, and room to growârarely come to market along the Forgotten Coast.
Contact Us
Listing Provided by St George Island Realty, LLC - 8509274777, info@sgirealty.com
*Property information provided by Forgotten Coast REALTOR Association. IDX information is provided exclusively for consumers personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is deemed reliable but is not guaranteed accurate by the MLS.