Anyone know the market around Alligator Point in Florida?

Question

Have a friend that owns some land at Alligator Point, Florida.  We were recently talking REI and he asked what I knew about the market for STR there.  I had never heard of it and had to look it up but want to see if anyone here knows how the market is there for him to develop the land.  Does anyone know about the STR market there?

Dan Slaughter · Answer

Thanks @Glenna Wood.  Appreciate your insight.  I'll pass this information along to him.  I figured contractor labor for builders would be an issue.

Glenna Wood · Answer

Haven't been there in about 20 years. It's on a pretty remote stretch of coast southwest of Tallahassee. Not as desirable as St George Island but there have been vacation rentals there for years. Not much to do in the area besides the beach and the nearest towns are tiny so entertainment and shopping is pretty limited. Look for web pages for PMs in Carrabelle and St George Island to get an idea of the properties there. As you already know, most people have never heard of it. Franklin County is largely National Forest so the property tax rates are pretty high compared to surrounding counties. You can likely turn a profit but doubt if you would "kill it". Like most of the less developed panhandle coast, labor, builders, cleaners are limited supply.