9-Acre Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30867499
Property Subtypes: Multi-Family, Office, Other
Gross Land Area: 9 Acres
Sale Price: $3,000,000
Unit Price: $333,333 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/19/2024

Overview / Comments

This 9-acre parcel is located just off of University Parkway between Davis Highway and Nine Mile Road. This is a great location for a medical office, senior living, multifamily or other uses. Current zoning is COM (commercial) and HDMU (high density mixed use) and allows for 25 units per acre. Future land use is MU-U (mixed use urban).

Access is from Johnson Avenue, just west of the lighted intersection of University Parkway. Additional access to the property is possible from University Parkway with the purchase of an additional parcel listed by another broker.

The property on the corner of University Parkway and Johnson Ave. has been purchased by Harvester's Federal Credit Union and will become their headquarters and a credit union branch. This development will open up the visibility for this property from University Parkway.

According to a recent wetlands deliniation, there is approximately one acre of wetlands on the property. This is in the general vacinity of a man-made pond on the eastern side of the parcel, which is visible from aerial photographs. A phase I has been conducted and concluded that no further investigation is needed.

There are several homes/structures at the south end of the property that were given no value in the price. However, there are people living there, so PLEASE do not walk the property without contacting the listing agent first.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 141S305405000001
Legal Description: E 408 FT OF W 908 FT OF E 17 56/100 CHNS OF S 19 CHNS OF LT 5 LYING N OF JOHNSON AVE OR 104 P 756 OR 2486 P 625 OR 5249 P 2001/2003 OR 5270 P 203
Available Utilities: Electric, Water
Sewer Type: Septic

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,266 58,374 134,571
Median Age: 33.04 37.04 38.28
Households: 4,864 24,980 54,017


© Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Moody's assume any liability for errors or omissions.