6.5 Acre Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30827367
Property Subtypes: Multi-Family, Office, Residential (Single Family), Other
Gross Land Area: 6.50 Acres
Sale Price: $2,500,000
Unit Price: $384,615 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/2/2023

Overview / Comments

This 6.5 acres is portion of a larger parcel 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). Future land use is MU-U (mixed use urban).

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

A wetlands assessment was performed in 2021 which determined approximately an acre of wetlands on the property, which includes a man-made pond that can be seen from the aerial photo.

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.

There are several family members living on the property, so PLEASE do not walk the property without contacting the listing agent first. The owners assume anyone unexpected on the property is a tresspasser and will respond accordingly.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: a portion of 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

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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


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