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    Navarre Parkway Land Investment Title is generated by Realmo AI

    9751 Us Hwy 98, Navarre, FL 32566

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    Claim this Listing
    For Sale
    $5,100,000

    LAND - Navarre, FL

    Lot size:
    6.20 Acres
    Added:
    Aug 15, 2025
    Days on Market:
    295
    Last Refresh:
    Jun 5 at 12:06 pm

    Property Features for 9751 Us Hwy 98

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    212S26078000Q000000
    Lot size
    6.20 Acres

    Taxes and HOA fees

    Tax Description
    CRESCENT SHORES W 500 FT OF E 700 FT OF LOT Q AS DES IN OR 1706 PGS 773 & 776 & OR 2160 PG 296 & OR 2197 PG 1928 & OR 2208 PGS 820 & 822 & OR 2244 PGS 733 & 740 & OR 2249 PG 1846 & OR 2249 PG 1848 & OR 2295 PGS 1833 & 1834 & OR 2548 PGS 1354 & 1355 & OR 2551 PGS 948 & 949 & OR 2795 PGS 1911 & 1912 & OR 2797 PGS 1283 & 1284 & OR 2950 PGS 1028 & 1029 & OR 2951 PGS 1926 & 1927 & OR 3102 PGS 272 & 273 & OR 3104 PGS 570 & 571 & OR 3144 PGS 918 & 919 & OR 3149 PG 199 & OR 3203 PGS 1529 1531 1533 & 1535 & AS DES IN OR 4543 PG 1405

    Utilities

    Water source
    Public
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Tracy Boney
    Tracy Boney

    Listing agent Tracy Boney License #3212205

    Listing office Levin Rinke Realty 220 W Garden Street Suite 125, Pensacola Beach, FL

    Listing date Aug 15, 2025

    MLS# 669343 Listing URL

    Copyright © 2026 Pensacola Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location on highly visible Navarre Parkway with unmatched frontage and maximum exposure.
    • Ideal for upscale retail, boutique development, luxury service businesses, or mixed‑use concepts.
    • Positioned in Navarre's rapid growth corridor with strong tourism traffic.
    • Surrounded by thriving residential communities and proximity to white‑sand beaches.
    • High daily traffic counts with an affluent and expanding customer base.
    • Ample space and flexible potential for visionary investors/developers.

    Overview

    This property, located at 9751 Navarre Parkway, presents an investment opportunity with frontage on a well-traveled corridor. Positioned in Navarre's growth corridor, the 6.2-acre site is suitable for upscale retail, boutique development, luxury service businesses, or a mixed-use concept. The location benefits from proximity to residential communities, tourism traffic, and beaches. This property offers space for investors or developers seeking a presence in the area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.814387
    Latitude
    30.40937

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    FAQs

    What type of property is this?
    Commercial land - Prime investment opportunity on highly visible Navarre Parkway.
    Where is this commercial land located?
    The property is located at 9751 Us Hwy 98 Navarre, FL.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: Prime location on highly visible Navarre Parkway with unmatched frontage and maximum exposure.; Ideal for upscale retail, boutique development, luxury service businesses, or mixed‑use concepts.; Positioned in Navarre's rapid growth corridor with strong tourism traffic.
    (850) 916-5050
    We can help!
    Listing Contact
    Tracy Boney
    Tracy Boney
    Real Estate License ID: 3212205
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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