Hwy 85 & Hugo Lane
Vacant Land
for Sale
| Catylist Listing ID: |
30707839 |
| Property Subtypes: |
Hospitality, Office, Retail, Retail-Pad, Other
|
| Gross Land Area: |
2.90 Acres
|
| Sale Price: |
$975,000 - 1,950,000 |
| Unit Price: |
$336,206 - 672,413 Per Acre |
| Land Splits Available: |
Yes |
| Adjacent Parcels Available: |
Yes |
| Sale Terms: |
Other |
| Cap Rate: |
Undisclosed |
| Last Updated: |
10/11/2021 |
Overview / Comments
|
Excellent developer/investor opportunity in the rapidly growing Crestview market to purchase up to 2.9 acres of commercial retail land. The site consists of +/- 2.9 acres, and the seller would consider subdividing the acreage. The zoning is C-1 which allows for a wide variety of mixed-use commercial uses supporting retail, restaurant, hotels, and many other uses. The site has additional acreage that will become available to purchase and is an ideal location for a restaurant, QSR, retail, hotel, and office development. The property has excellent visibility and exposure along one of the most traveled arterials in NW FL, Highway 85 (Ferdon Blvd), with approximately 41,500 AADT. National retailers and restaurants nearby include Lowe's, Walmart, Panda Express, Arby's, Popeyes, Wendy's, Zaxby's, Hardee's, Whataburger, and many more.
|
Additional Details
| Nearest MSA: |
Crestview-Fort Walton Beach-Destin |
| County: |
Okaloosa |
| Tax ID/APN: |
32-3N-23-0000-0057-0120 & 32-3N-23-0000-0057-0130 |
| Zoning: |
C-1 |
| Property Located Between: |
Hwy 85 & Hugo Lane |
| Property Visibility: |
Excellent |
| Traffic/Vehicle Count: |
41,500 |
| Site Description: |
The site has the ability to have stormwater for the parcels.
|
| Area Description: |
The Crestview MSA encompasses Okaloosa County and Walton County and is located in the Florida Panhandle. With a population of nearly 270,000, the Crestview MSA is one of the fastest-growing MSAs in Florida, having grown over 25% since 2000. The Crestview MSA is currently experiencing an economic boom exceeding state and national averages due to its vibrant military, tourism, fishing industries, and Okaloosa County leading Northwest Florida in the healthcare industry. The Crestview MSA is home to the world’s largest air force base, Eglin Air Force Base, located between Crestview and Fort Walton Beach. Other nearby large cities include Fort Walton Beach (21,817 residents) and Destin (13,523 residents). Both are popular tourist destinations situated along Florida’s Emerald Coast that stretches from Panama City Beach to Pensacola Beach. |
| Lot Frontage: |
568' +/- |
| Zoning Description: |
C-1 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
3,249 |
18,745 |
31,154 |
| Median Age: |
32.97 |
33.26 |
34.03 |
| Households: |
1,137 |
6,921 |
11,424 |
|
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