$28,500,000 - Gulf Blvd, Navarre Beach

Rare developer opportunity to purchase 23+/- acres of waterfront land located on Florida’s Emerald Coast. The 23+/- acre site is located in Navarre Beach on Santa Rosa Island. Santa Rosa Island is a strip of land connecting Pensacola Beach and Navarre with over 18 miles of pristine white sand beaches along the Gulf of Mexico and the Santa Rosa Sound. Zoned Navarre Beach Planned Mixed Use, the 23.24-acre tract is the premier development site for a high density residential and commercial development. Year after year, the Santa Rosa Island beaches are ranked as some of the best beaches in the nation. Top-rated schools, quality health care, and a stable economy make Navarre a great location to not only visit, but also call home. The site contains a total of 23.24 acres with approximately 1,800 feet of frontage along the Santa Rosa Sound and 1,250 feet of frontage along the north side of Gulf Blvd, the main thoroughfare in Navarre Beach (10,000 AADT). The NB-PMUD zoning allows for 30% of the development to be comprised of commercial uses and 70% of the development to be for residential uses. There is a maximum density of 30 residential units per acre. The owner has conceptual plans for a legally permissible mixed-used development consisting of 697 residential condominium units, 148 condo/hotel units, and 100,000 SF of commercial retail space. In addition, the owner also has conceptual plans for a potential 148 slip marina along the Santa Rosa Sound. The site would be an excellent location for an RV park and is an allowed use under the current zoning. Population continues to increase along with the demand for waterfront vacation destinations and condominium units. The current population in Santa Rosa County has grown by 19% in the last decade making it one of the fastest-growing counties in the US.