Development Site on Lighted Hard Corner SR 85 S / PJ Adams Pkwy

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30425387
Property Subtypes: Hospitality, Office, Retail, Retail-Pad
Status: Pending/Contingent
Gross Land Area: 1.50 Acres
Sale Price: $1,800,000
Unit Price: $1,200,000 Per Acre
Sale Terms: Cash to Seller
Last Updated: 11/21/2020

Overview / Comments

1.5 Acres located on a Lighted Hard Corner in the largest City in the FWB-Crestview-Destin Metro Statistical Area. One Mile South of I-10 with a combined traffic hit count of 68500 at the intersection of (SR 85 & PJ Adams) of this C-1 zoned development site. 919th Special Operation Wing is located 6 miles South and Bob Sikes Airport is 7.5 miles North East. Located at the 2019 project starting point (Phase I) of the Approved FDOT PJ Adams Pkwy Four Lane/New I-10 Interchange Project; opening ~300 acres within the City of Crestview for commercial economic development and 1,800 acres for residential development. FUTURE TRAFFIC on the PJ Adams corridor will range between 35,600 and 44,100. Current AADT on PJ Adams is 19,000 and AADT on S. Ferdon Blvd (SR 85) is 49,500.

Attachments & Media

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: Okaloosa County, City of Crestview
Tax ID/APN: 32-3N-23-0000-0055-0010
Zoning: C-1
Property Located Between: S. Ferdon Blvd (aka SR 85 S) and PJ Adams Pkwy
Property Visibility: Excellent
Legal Description: BEG SW COR E1/2 OF NE1/4 OF SW1/4 N529 FT E215 FT TO W R/W HWY 85 S3 DEG W 530 FT W177 FT TO POB
Largest Nearby Street: S. Ferdon Blvd (aka SR 85 S)
Feet of Frontage: 300
Traffic/Vehicle Count: 49,500
Highway Access: One Mile South of I-10. 919th Special Operation Wing is located 6 miles South and Bob Sikes Airport is 7.5 miles North East.
Airports: Destin/Fort Walton Beach Airport (VPS), Bob Sikes Airport (CEW)
Site Description: 1.5 acres on a lighted hard corner with 300' of road frontage on S. Ferdon and additional 177' of road frontage on PJ Adams Pkwy. Ingress/egress on Ferdon south bound.
Area Description: Crestview is the county seat of Okaloosa County, and is designated as the Hub City” as it is located at the junction of three major highways” US Hwy 90 (US 90), State Road 85 (SR 85) and Interstate 10 (I-10). The University of Florida’s Bureau of Economic and Business Research (BEBR) projects Okaloosa County’s current population of 188,000 is projected to grow to 223,500 by 2040 with medium population growth, representing an increase of 18%. As identified in the 2015 Florida Defense Factbook, Eglin Air Force Base, housed in Okaloosa County, is the largest military installation in the Department of Defense. Duke Field, located on SR 85, is the new home of the 919th Special Operation Wing. The Economic Development Council of Okaloosa estimated in 2017 the military presence of Duke’s Total Economic Impact in the Community at $51 million annually. Bob Sikes Airport supports a mix of general aviation, defense and industrial aerospace corporations with its 8,000 foot runway with an instrument landing system (ILS) and available acreage on and off airport for lease. The Okaloosa-Walton Transportation Planning Organization (OWTPO) reports, Okaloosa County’s median household income is $55,768 with the 32536 zip code coming in at $62,862 as reported by the Bureau of Labor Statistics. The state of Florida’s median income is $47,212 . Employment is projected to grow at an 11%-15% rate per the (OWTPO).
Lot Frontage: 300
Lot Depth: 177
Zoning Description: C- 1, Future Land Use - Commercial Intensity shall be limited to a floor area ratio of 0.75 and an impervious surface coverage of no more than 75%. Maximum building height shall be no more than 45 feet. Front setback shall be no less than 10 feet.
Topography: Level
Easements: Ingress/Egress, Preservation, Environmental
Easements Description: Lift Station
Available Utilities: Electric, Water, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 18,745 31,154
Median Age: 33.26 34.03
Households: 6,921 11,424

Contact

Photograph of Listing Agent

Melissa Glyptis Simpson

Coldwell Banker Commercial NRT Pensacola
Gulf Coast CMLS Member
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