Residential Development Opportunity 50 Acres

Vacant Land for Sale
Catylist Listing ID: 30380873
Property Subtypes: Residential (Single Family)
Gross Land Area: 50.80 Acres
Sale Price: $1,985,000
Unit Price: $39,074 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/19/2019

Overview / Comments

BRING ALL OFFERS! Seller is highly motivated and will entertain all offers!

Rare residential development opportunity located in the heart of Pace, one of the state’s most rapidly growing communities. The +/-50.8 acre site is located on the north side of Highway 90, which is the main commuter artery through Pace and Milton, FL. The site has two access points on the east and west sides of the property, Lori Lane and Craig Street. The property is zoned R-1 Residential which permits 4 lots/acre. The owner has two conceptual plans which include a 200 lot plan and alternate plan which could enlarge the lots and create +/-136 lots. This is an excellent development site in Pace with the unique aspect of having the beautiful Pond Creek and natural features located on the north end of the property. The Pond Creek waterway and surrounding forest will serve as the perfect natural amenity and common area for a potential residential development and homeowners. The population growth in Pace has skyrocketed in the last decade and continues to be a strong housing market with the close proximity to military bases and desirable features Pace has to offer.

The Pace community is conveniently located midway between the Pensacola and Milton areas which are home to two of the busiest Naval Air bases in the country, NAS Pensacola and NAS Whiting Field. The Pace community has a large military presence and a large population of the personnel resides in this immediate area. The site is close proximity to shopping and several national retailers, restaurants, top-rated schools and colleges, health systems, parks, beautiful beaches, shopping, and entertainment. Within the recent years the area has become highly sought after for new developments and is a desirable community to reside or retire.

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Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 07-1N-28-0000-01525-0000
Zoning: R-1
Highway Access: Hwy 90 runs east and west from the property. I-10 is nearby with east access from Avalon Blvd.
Site Description: Mature trees, mostly dry and gently sloping. Frontage on Pond Creek for natural amenity.
Area Description: The Pace community is conveniently located midway between the Pensacola and Milton areas which are home to two of the busiest Naval Air bases in the country, NAS Pensacola and NAS Whiting Field. The Pace community has a large military presence and a large population of the personnel resides in this immediate area. The site is close proximity to several national retailers, restaurants, top-rated schools and colleges, health systems, parks, beautiful beaches, shopping, and entertainment. Within the recent years the area has become highly sought after for new developments and to reside or retire.
Zoning Description: Single Family Residential. R-1 Single Family Residential allows 4 units per acre
Topography: Gently Sloping

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,560 27,185 52,282
Median Age: 36.84 37.47 37.91
Households: 2,803 10,511 20,091
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