Hwy 87 @ Segura St - Commercial Land

Vacant Land for Sale
Catylist Listing ID: 30322424
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 3.10 Acres
Sale Price: $499,000
Unit Price: $160,967 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/19/2019

Overview / Comments

Large Development-Ready Commercial Property! This offering includes 2 parcels totaling just over 3 acres of land with 500 feet of depth. It's hard to find a commercial lot this large and deep along Hwy 87. The property is currently being leased as a gravel parking lot for the call center next door and shares a full access curb cut to Hwy 87. The site is also accessible from Segura St to the north.

The property is just half a mile away from Navarre High School which is the largest, and rapidly growing, high school in the County. Just under 2 miles to the south is Hwy 98 (Navarre Parkway) which is the main coastal commercial corridor along the Florida Panhandle. Hwy 87 is the main (soon be a full 4 lane) connector from I-10 to Hwy 98 (Navarre Parkway) and Navarre Beach. The State of Florida is widening Hwy 87 to 4 lanes to help with the traffic from I-10 to Navarre, Fort Walton Beach, and Destin. With this widening, Hwy 87 will become the fastest rout to Destin for traffic coming from the East on I-10.

An environmental assessment was complete on the parcels early in 2018 and is available on request. Basic finding were:
- No Wetlands identified (small drainage ditch on SW back edge).
- Zone X, completely outside of any mapped floodplains or areas with any known flood hazards.
- No indicated Hazardous Materials or Contamination.
- No indicated Endangered Species.

Attachments & Media

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 082S260000004150000
Zoning: HCD-HON
Property Located Between: Segura Street & High School Blvd
Property Visibility: Excellent
Largest Nearby Street: Hwy 87
Feet of Frontage: 197
Traffic/Vehicle Count: 19,700
Lot Frontage: 197
Zoning Description: HCD-HON
Topography: Level

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 21,135 28,525
Median Age: 35.1 36.09
Households: 7,889 10,726


Photograph of Listing Agent

Rick Locchead

Beck Partners CRE, LLC
Not a member of TALrex.com
Photograph of Listing Agent

Shawn Maxey

Beck Partners CRE, LLC
TALrex.com Member
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