Hotel-Condo Site with Beach Access

Vacant Land for Sale
Catylist Listing ID: 30073674
Property Subtypes: Hospitality, Vacation/Resort
Gross Land Area: 1.24 Acres
Sale Price: $1,500,000
Unit Price: $1,209,677 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/21/2018

Overview / Comments

Excellent Development Opportunity available on this 1.24 acre Hotel/ Condo site with beach access and development order on Okaloosa Island in Fort Walton Beach Fl. This site is comprised of 3 contiguous parcels zoned B2 which allows for a 40,000 (+/-) sf development and is in flood zone A (1% chance of flooding). Sellers have an active development order and plans for a 48 unit condominium. Okaloosa Island is currently experiencing growth in tourism resulting in development of family entertainment, new restaurants, condos and hotels. This represents a vote of confidence for the regions tourism industry that is expected to continue. ADT traffic counts at the site are 15,300 and 54,500 at the intersection of Hwy 98 and Santa Rosa Blvd, 27 water taps are included with the purchase.

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: Okaloosa County
Tax ID/APN: 00-2S-24-2185-0002-0200
Zoning: B2
Property Located Between: Destin Florida and Fort Walton Beach Florida
Property Visibility: Excellent
Legal Description: SANTA ROSA ISLAND LOTS 20 & 21 & 22 & 23 BLK 2
Largest Nearby Street: Hwy 98
Feet of Frontage: 220
Traffic/Vehicle Count: 15,300
Highway Access: Hwy 98
Airports: VPS/ Eglin AFB
Lot Frontage: 220
Lot Depth: 270
Topography: Level
Soil Type: Sandy
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,683 28,191 65,566
Median Age: 38.78 41.37 39.06
Households: 2,267 12,495 28,011


Photograph of Listing Agent

Chad Knaepple CCIM

Taylor Allen Properties LLC Gulf Coast CMLS Member
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