Hwy 98 & Blue Angel Pkwy

• Rare opportunity to purchase one of the largest and best undeveloped sites available in Northwest Florida
• Premier development site with over +/- 110 acres on the north side of Hwy 98 and 915 Acres on the south side
• Excellent mixed-use development site suitable for multi-family, high density residential, retail, hospitality, a shopping center, restaurants and other commercial uses.
• Strong median income and population growth has recently helped fuel housing and retail demand in Pensacola

Property Description

Prime +/- 110-acre development site available in the heart of Pensacola, Florida. The site is one of the largest and best commercial development sites available in Northwest Florida and the Gulf Coast. The property consists of several parcels on the north and south side of Hwy 98 at the signaled intersection of Blue Angel Pkwy and Hwy 98. The site is centrally located in the booming Pensacola MSA and is the ideal location for a mixed-use retail, hotel, multi-family, and residential development. The property has excellent visibility and access along the highly trafficked Hwy 98 which serves as the major arterial in NW Florida and stretching all the way to Alabama and southern Florida. The Pensacola market has experienced explosive growth in recent years due to the high population growth and strong median income. The strong economy and tourism has fueled the housing and retail demand in Pensacola over recent years. Pensacola benefits from the financial sector employment including Navy Federal Credit Union which recently announced expansion plans to double its workforce by 2020 and employment total to more than 10,000. The government has a substantial presence in the metro with more than 23,000 military and civilian personnel employed at NAS Pensacola, located just miles from the site. There have been several new developments in the immediate vicinity with the brand new Perdido Urgent Care across the street and a newly built strip center adjacent to the site. The property is close proximity to the core retail trade area, the airport, hospital, University of West Florida, NAS Pensacola, Whiting Field Naval Base, and the beautiful tourist beach destinations such as Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach. The acreage is zoned Heavy Commercial Light Industrial (HC/LI) and HDMU which allows for a wide variety of commercial and residential uses. The density allowed will vary on the proposed use and site plan approval through the county. The owner will consider subdividing the northern tracts and southern tracts as shown on the aerial with breakout pricing. The seller reserves the bill board leases and also the mineral rights, if any.