Highway 98 West Development Property

Vacant Land for Sale
Catylist Listing ID: 30336927
Property Subtypes: Mobile Home Park, Multi-Family, Residential (Single Family)
Gross Land Area: 18.05 Acres
Sale Price: $649,900
Unit Price: $36,005 Per Acre
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/2/2019

Overview / Comments

The 19.78-acre parcel is large enough for many projects including residential (both single and multiple), ACLF, retail, public & civic, and recreation and entertainment. The existing zoning classification is High Density Mixed-Use District (HDMU) with a Future Land Use Designation of Mixed Use-Suburban, which allows 25 units/acre densities. The subject site is essentially ā€œLā€-shaped with approximately 427 feet of combined road frontage on Highway 98 West. The overall size of 19.78 acres is less and except by an approximate 1.73 acre outparcel currently improved with an existing restaurant building. The remaining +/- 18.00 acres of developable land is heavily wooded and appears to be level judging from the aerial views. There is public water to the site; and a sewer force main located on the south side of Highway 98 West (Refer to the ECUA Utility Map data in the Document Section). Lots of potential for this site . . . New Subdivision? Apartments? Out Parcel? You decide. This parcel could be combined with the outparcel CMLS #30336925. Possible commercial strip on the road frontage and residential on the northern portion of the overall site. There is an existing single-family structure containing approximately 928 SF of living area; and approximately 1,418 SF of unfinished areas dedicated to open porch, utility and carport. This home is constructed on pilings and is situated on the northeast side of the subject property. This home has remaining economic life and believed to add contributory value to the overall subject property. This home will convey in its current condition.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 172S316000000000
Zoning: HIGH DENSITY MIXED-USE DISTRICT (HDMU)
Property Located Between: S. Blue Angel Parkway and Lillian Highway
Property Visibility: Good
Legal Description: Refer to Exhibit "A" in the Document Section
Largest Nearby Street: S. Blue Angel Parkway
Feet of Frontage: 427
Traffic/Vehicle Count: 10,300
Highway Access: The subject may be accessed directly via US Highway 98 West on the west and east sides of the subject property.
Airports: Pensacola International Airport
Site Description: Refer to comments above
Area Description: The subject market area is located in the commercial center of southwest Pensacola. The primary draw for traffic to this area is nearby residential uses, NAS Pensacola Mainside to the south, military training schools, Navy Hospital, and new VA Hospital north of the subject property on U.S. Highway 98, and the Perdido Key destination resort area, which begins across the Baars Bridge approximately 9 miles southwest of the subject. The southwest Pensacola area is dominated economically by a high level of military employment at NAS Pensacola Mainside, Saufley, and Corry Fields, which are all strategic, active military training and education centers. Continued expansion of facilities and functions at these bases in recent years has contributed to substantial West Pensacola population increases, supporting rapid single-family development, which is most closely reflected by the completion of a Walmart Superstore and Target roughly two miles west of the subject property.
Lot Frontage: 427
Lot Depth: 1320
Zoning Description: Per the Escambia County development code, the high density mixed-use (HDMU) district establishes appropriate areas and land use regulations for a complimentary mix of high density residential uses and compatible nonresidential uses within urban areas. The primary intent of the district is to provide for a mix of neighborhood retail sales, services and professional offices with greater dwelling unit density and diversity than the low density mixed-use district. Additionally, the HDMU district is intended to rely on urban street connectivity and encourage vertical mixes of commercial and residential uses within the same building to accommodate a physical pattern of development characteristic of village main streets and older neighborhood commercial areas. Residential uses within the district include all forms of single- family, two-family and multifamily dwellings.
Development Name: TBD
Topography: Level
Easements: Other
Easements Description: Typical
Available Utilities: Water, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal, Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,925 30,280 82,955
Median Age: 38.52 36.34 35.54
Households: 1,115 11,838 30,147

Contact

Photograph of Listing Agent

G. Jeff White

Connell & Company Realty, Inc.
Gulf Coast CMLS Member
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