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.

Attachments & Media

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

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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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