Navarre Beach Waterfront 23 Acres

Vacant Land for Sale
Catylist Listing ID: 30327755
Property Subtypes: Hospitality, Multi-Family, Residential (Single Family), Retail, Retail-Pad, Vacation/Resort, Other
Gross Land Area: 23.24 Acres
Sale Price: $14,500,000
Unit Price: $623,924 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/30/2018

Overview / Comments

Rare developer opportunity to purchase 23+/- acres of waterfront land located on Florida’s Emerald Coast. The 23+/- acre site is located in Navarre Beach on Santa Rosa Island. Santa Rosa Island is a strip of land connecting Pensacola Beach and Navarre with over 18 miles of pristine white sand beaches along the Gulf of Mexico and the Santa Rosa Sound. Zoned Navarre Beach Planned Mixed Use, the 23.24-acre tract is the premier development site for a high density residential and commercial development. Year after year, the Santa Rosa Island beaches are ranked as some of the best beaches in the nation. Top-rated schools, quality health care, and a stable economy make Navarre a great location to not only visit, but also call home.

The site contains a total of 23.24 acres with approximately 1,800 feet of frontage along the Santa Rosa Sound and 1,250 feet of frontage along the north side of Gulf Blvd, the main thoroughfare in Navarre Beach (10,000 AADT). The NB-PMUD zoning allows for 30% of the development to be comprised of commercial uses and 70% of the development to be for residential uses. There is a maximum density of 30 residential units per acre. The owner has conceptual plans for a legally permissible mixed-used development consisting of 697 residential condominium units, 148 condo/hotel units, and 100,000 SF of commercial retail space. In addition, the owner also has conceptual plans for a potential 148 slip marina along the Santa Rosa Sound. The site would be an excellent location for an RV park and is an allowed use under the current zoning. Population continues to increase along with the demand for waterfront vacation destinations and condominium units. The current population in Santa Rosa County has grown by 19% in the last decade making it one of the fastest-growing counties in the US. This region is widely known as a family-friendly vacation destination ideal for weekend getaways or a place to spend an entire season.

Property can be split into two separate tracts, pricing is as follows: Tract A: 11 acres = $7,500,000 Tract B: 12.24 acres = $7,500,000

Highlights:
Premier development land - 1,800 feet of frontage on Santa Rosa Sound
One of the largest and best waterfront development sites available in Northwest Florida
USA Today ranked Navarre Beach as one of the top 5 Florida beaches in 2018
Only 4 miles of the island is allowed to be developed into a mixture of condominiums, townhomes, and restaurants
An estimated 4.5 million people visit the Emerald Coast annually
Only 10 coastal areas in the U.S. have the designation "National Seashore"

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 28-2F-26-0000-00500-0000
Zoning: NB-PMUD NAVARRE BEACH, PLANNED MIXED USE DEVELOPMENT
Property Visibility: Excellent
Largest Nearby Street: Gulf Blvd
Feet of Frontage: 1,250
Traffic/Vehicle Count: 10,000
Airports: Pensacola International Airport
Site Description: Site dimensions: 1,250' x 716.34 x 1,801 +-' x 1,058.23. The site has a slightly irregular shape and good utility.
Area Description: Navarre Beach is nestled between Navarre Beach County Park and the Gulf Islands National Seashore, which has miles of beautiful white sand beaches, emerald waters, and sand dunes. Connected to Interstate 10 by the Garcon Point Bridge, Santa Rosa Island is easily accessible from all over the Southeast United States. Navarre Beach is situated between Destin and Pensacola near several military bases which include the Pensacola Naval Station, Naval Air Station Whiting Field, Hurlburt Field, and Eglin Air Force Base. The military bases annually bring in over $7.8 billion into the local economy. Santa Rosa County is a resident and tourists’ dream with top-notch amenities including crime rates significantly below state/national averages and an “A” grade school district from the Florida Department of Education. The University of Florida’s Bureau of Economic and Business Research predicts that the County’s population could reach a record 180,000 residents by 2020. The population density in the area is expected to continue to grow, which when added to a strong tourism industry, positions the area for strong economic growth.
Zoning Description: See attachment for NB-PMUD allowed uses.
Part of Planned Development?: Yes
Development Name: The Port Navarre Resort
Topography: Level
Easements: Ingress/Egress
Easements Description: Based on the survey, an easement for ingress and egress is located adjacent to the site on the east.
Soil Type: Sandy
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 13,103 28,525
Median Age: 35.36 36.09
Households: 4,941 10,726
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