Price reduced on 11 July 2026. Sellers are motivated. Bring offers! Located on Business Highway 331 in Freeport, Florida this property consists of 15+ acres with approximately 750 feet of highway frontage on Business Highway 331. Zoned R-3 High Density Residential plus a flood zone rating of X will accommodate up to several units per acre for future development as per City of Freeport land use guidelines. City water, city sewer. and power are available. Three schools, Freeport Elementary, Freeport Middle School and Freeport High School are located within 2 miles of this property. New middle school is being built in Hammock Bay is less than 4 miles away. This property includes a 2500 square foot custom built home and two large sheds for vehicles, boats or equipment. This unique property is located just 20 minutes from the Beaches of South Walton, 30 minutes from Eglin Air Force Base and only 15 minutes from Interstate 10 and DeFuniak Springs, Florida. Freeport Industrial Park with multiple businesses ais located approximately 1/2 mile from this property. There are multiple parks and boat launch facilities for recreational pleasure within minutes of this location.