72 Unit Multifamily Apartment Development

Vacant Land for Sale
Catylist Listing ID: 30872536
Property Subtypes: Multi-Family
Gross Land Area: 3.89 Acres
Sale Price: $1,296,000
Unit Price: $333,161 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/24/2024

Overview / Comments

An exceptional multifamily development opportunity is available in Northwest Florida on +/- 3.89 acres. This location offers easy access to US Highway 98, the primary route for the panhandle Florida markets, and links to other key Pensacola submarkets. The seller has an approved Development Order for a 72-unit apartment complex, and the property is zoned as High-Density Residential (HDR). Centrally positioned within the Pensacola market, the site is near Pensacola High School, Escambia High School, Pensacola State College, Ascension Sacred Heart Hospital, Baptist Hospital, restaurants, beaches, and Naval Air Station Pensacola.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: 212S311308000001
Property Visibility: Excellent
Largest Nearby Street: Hwy 98 W
Traffic/Vehicle Count: 19,400
Highway Access: Yes
Airports: Pensacola International Airport
Zoning Description: High-Density Residential

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,530 53,413 112,109
Median Age: 35.3 34.56 35.62
Households: 1,935 19,563 41,242


Photograph of Listing Agent

Harry Bell

Bellcore Commercial LLC Gulf Coast CMLS Member
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