8.6 Acres Residential Land

Vacant Land for Sale
Catylist Listing ID: 30384437
Property Subtypes: Multi-Family, Residential (Single Family), Other
Gross Land Area: 8.60 Acres
Sale Price: $2,250,000
Unit Price: $261,627 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/22/2019

Overview / Comments

Rare opportunity to purchase 8.6 acres in the heart of Ft Walton Beach. The property is zoned R-2 and is the ideal location for a residential or multi-family subdivision in the rapidly growing city of Fort Walton Beach. The site benefits from the highly trafficked MLK Jr Blvd arterial with over 31,500 vehicle/day passing the property. The 8.6 acres is located in a designated opportunity zone and includes an additional 1.41 acres which will convey as perpetual easement for vehicular and pedestrian ingress and egress over the property to its successors and or assigns. The property is known as the horse stables and has frontage on Joyner Dr, MLK Jr. Blvd and Comanche St. The property is conveniently located within minutes to Hurlburt and Eglin Air Force Bases, beautiful beaches, shopping, restaurants, and entertainment. The property's trade area is largely characterized by military personnel from Eglin Air Force Base and Hurlburt Field. Eglin Air Force Base covers over 463,000 acres and employs more than 8,500 military and approximately 4,500 civilians. Hurlburt Field has 10,782 active duty military and 1,316 civilian employees. These combine to create a very stable employment base for the trade area.

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Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 04-2S-24-0000-0020-0020. 04-2S-24-0000-0020-0010, 04-2S-24-0000-0020-0000
Zoning: R-2 SUBURBAN RESIDENTIAL
Property Located Between: Joyner & Comanche
Property Visibility: Good
Largest Nearby Street: Martin Luther King Jr. Blvd
Traffic/Vehicle Count: 31,500
Zoning Description: The property is zoned R-2 Suburban Residential.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,188 48,877 63,191
Median Age: 34.84 37.36 38.26
Households: 3,825 20,325 26,883
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