Redevelopment Opportunity in Santa Rosa County
Special Purpose
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30839683 |
| Property Subtypes: |
Health Care/Medical
|
| Status: |
Pending/Contingent |
| Building Size (RSF): |
61,917 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
3.72 Acres
|
| Sale Price: |
$550,000 |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Vacant/Owner-User |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
Undisclosed |
| Last Updated: |
8/31/2023 |
Overview / Comments
The subject property consists of a ±61,917 SF Facility on ±3.7 acres constructed in 1952, and a ±3,825 SF metal building with HVAC, built in 1996, previously used as a gymnasium. From a market perspective, and considering the significant expense of renovating the existing building for an adaptive reuse, it is likely that the current highest and best use of the subject property is as commercial development land.
Located on Stewart Street in Milton, FL, the property has good access and visibility on one of the primary commercial corridors in the small market area, where other nearby uses include institutional/government use and a variety of retail and general commercial services. Located just 3 miles south of NAS Whiting Field, the “backbone of naval aviation training” and the largest employer in Santa Rosa County. 16,000 AADT on Stewart Street.
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Additional Details
| Nearest MSA: |
Pensacola-Ferry Pass-Brent |
| County: |
Santa Rosa |
| Tax ID/APN: |
34-2N-28-0000-17901-0000 |
| Area Description: |
With a population now exceeding 500,000, the Pensacola MSA anchors the Florida Panhandle economy. Major employers include Naval Air Station Pensacola, Baptist Health Care, Ascension Sacred Heart, Gulf Power and Navy Federal Credit Union. Located in the northeast side of Pensacola is the University of West Florida, a growing state university nearing 15,000 in annual enrollment.
Pensacola is serviced by air, sea and rail. Pensacola International Airport offers non-stop service to 9 major US cities, with over 1,300 domestic flights and 21 international flights via 6 major air carriers. The Port of Pensacola is a deep-water port strategically positioned along the northern Gulf of Mexico, with connection to Class-1 rail line (CSX). Major road transportation includes Interstate 10 (I-10), which runs east/west along the northern border of Pensacola; Highway 98, also running east/west, along the southern border of Pensacola and connecting it to neighboring coastal communities; and Interstate 110 (I-110), which runs north/south, connecting Highway 98 and I-10. |
| Total Number of Buildings: |
1 |
| Zoning Description: |
SSC - RC, Stewart St Corridor mixed-use, City of Milton |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,212 |
23,176 |
47,129 |
| Median Age: |
34.71 |
38.36 |
38.02 |
| Households: |
886 |
9,114 |
17,049 |
|
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