Catylist ID:
#30700379
| Catylist Listing ID: | 30700379 |
| Property Subtypes: | Hospitality, Multi-Family, Residential (Single Family), Retail, Retail-Pad, Vacation/Resort, Other |
| Gross Land Area: | 23.24 Acres |
| Sale Price: | $23,500,000 |
| Unit Price: | $1,011,187 Per Acre |
| Land Splits Available: | Yes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/3/2021 |
Overview / Comments
|
Rare developer opportunity to purchase 23+/- acres of waterfront land located on Florida’s Emerald Coast. The 23+/- acre site is located in Navarre Beach on Santa Rosa Island. Santa Rosa Island is a strip of land connecting Pensacola Beach and Navarre with over 18 miles of pristine white sand beaches along the Gulf of Mexico and the Santa Rosa Sound. Zoned Navarre Beach Planned Mixed Use, the 23.24-acre tract is the premier development site for a high density residential and commercial development. Year after year, the Santa Rosa Island beaches are ranked as some of the best beaches in the nation. Top-rated schools, quality health care, and a stable economy make Navarre a great location to not only visit, but also call home. The site contains a total of 23.24 acres with approximately 1,800 feet of frontage along the Santa Rosa Sound and 1,250 feet of frontage along the north side of Gulf Blvd, the main thoroughfare in Navarre Beach (10,000 AADT). The NB-PMUD zoning allows for 30% of the development to be comprised of commercial uses and 70% of the development to be for residential uses. There is a maximum density of 30 residential units per acre. The owner has conceptual plans for a legally permissible mixed-used development consisting of 697 residential condominium units, 148 condo/hotel units, and 100,000 SF of commercial retail space. In addition, the owner also has conceptual plans for a potential 148 slip marina along the Santa Rosa Sound. The site would be an excellent location for an RV park and is an allowed use under the current zoning. Population continues to increase along with the demand for waterfront vacation destinations and condominium units. The current population in Santa Rosa County has grown by 19% in the last decade making it one of the fastest-growing counties in the US. This region is widely known as a family-friendly vacation destination ideal for weekend getaways or a place to spend an entire season. Highlights: Premier development land - 1,800 feet of frontage on Santa Rosa Sound One of the largest and best waterfront development sites available in Northwest Florida USA Today ranked Navarre Beach as one of the top 5 Florida beaches in 2018 Only 4 miles of the island is allowed to be developed into a mixture of condominiums, townhomes, and restaurants An estimated 4.5 million people visit the Emerald Coast annually Only 10 coastal areas in the U.S. have the designation "National Seashore" |
Attachments & Media
Additional Details
| Nearest MSA: | Pensacola-Ferry Pass-Brent |
| County: | Santa Rosa |
| Tax ID/APN: | 28-2F-26-0000-00500-0000 |
| Zoning: | NB-PMUD NAVARRE BEACH, PLANNED MIXED USE DEVELOPMENT |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Gulf Blvd |
| Feet of Frontage: | 1,250 |
| Traffic/Vehicle Count: | 10,000 |
| Airports: | Pensacola International Airport |
| Area Description: | Navarre Beach is nestled between Navarre Beach County Park and the Gulf Islands National Seashore, which has miles of beautiful white sand beaches, emerald waters, and sand dunes. Connected to Interstate 10 by the Garcon Point Bridge, Santa Rosa Island is easily accessible from all over the Southeast United States. Navarre Beach is situated between Destin and Pensacola near several military bases which include the Pensacola Naval Station, Naval Air Station Whiting Field, Hurlburt Field, and Eglin Air Force Base. The military bases annually bring in over $7.8 billion into the local economy. Santa Rosa County is a resident and tourists’ dream with top-notch amenities including crime rates significantly below state/national averages and an “A” grade school district from the Florida Department of Education. The University of Florida’s Bureau of Economic and Business Research predicts that the County’s population could reach a record 180,000 residents by 2020. The population density in the area is expected to continue to grow, which when added to a strong tourism industry, positions the area for strong economic growth. |
| Zoning Description: | See attachment for NB-PMUD allowed uses. |
| Part of Planned Development?: | Yes |
| Topography: | Level |
| Easements: | Ingress/Egress |
| Soil Type: | Sandy |
| Available Utilities: | Electric, Water, Gas, Sewer, Cable, Internet Access |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 13,103 | 28,525 |
| Median Age: | 35.36 | 36.09 |
| Households: | 4,941 | 10,726 |
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