Prime 102-Acre Commercial Development Opportunity

Vacant Land for Sale
Also listed as Retail-Commercial, Hospitality
Catylist Listing ID: 30447491
Property Subtypes: Agricultural, Hospitality, Industrial, Office, Retail, Retail-Pad, Self Storage, Vacation/Resort, Other
Gross Land Area: 27 - 102.51 Acres
Sale Price: $369,000 - 3,122,000
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/9/2021

Overview / Comments

Prime 102.5-acre development site available in the heart of Pensacola, Florida. The site is one of the largest and best commercial development sites available in Northwest Florida and the Gulf Coast. The property consists of several parcels on the north and south side of Hwy 98 at the signaled intersection of Blue Angel Pkwy and Hwy 98. The site is centrally located in the booming Pensacola MSA and is the ideal location for a mixed-use retail, hotel, multi-family, and residential development. The property has excellent visibility and access along the highly trafficked Hwy 98 which serves as the major arterial in NW Florida and stretching all the way to Alabama and southern Florida. The Pensacola market has experienced explosive growth in recent years due to the high population growth and strong median income. The strong economy and tourism has fueled the housing and retail demand in Pensacola over recent years. Pensacola benefits from the financial sector employment including Navy Federal Credit Union which recently announced expansion plans to double its workforce by 2020 and employment total to more than 10,000. The government has a substantial presence in the metro with more than 23,000 military and civilian personnel employed at NAS Pensacola, located just miles from the site. There have been several new developments in the immediate vicinity with the brand new Perdido Urgent Care across the street and a newly built strip center adjacent to the site. The property is close proximity to the core retail trade area, the airport, hospital, University of West Florida, NAS Pensacola, Whiting Field Naval Base, and the beautiful tourist beach destinations such as Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach.

The acreage is zoned Heavy Commercial Light Industrial (HC/LI) which allows for a wide variety of commercial and industrial uses. The density allowed varies on the proposed use and site plan approval through the county. Please contact broker for more information on the development code and zoning documents. The owner will consider subdividing the northern tracts and southern tracts, as shown on the aerial with breakout pricing. The seller reserves the bill board leases and also the mineral rights on the property, if any.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia
Tax ID/APN: 182S311301000001
Zoning: HC/LI
Property Located Between: Hwy 98 & Blue Angel Hwy
Property Visibility: Excellent
Largest Nearby Street: Hwy 98
Feet of Frontage: 1,000
Traffic/Vehicle Count: 36,400
Zoning Description: HC/LI FLU: Commercial
In Flood Plain?: Yes
Easements: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,292 36,730 95,760
Median Age: 33.54 36.09 35
Households: 922 14,490 34,995
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