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    Expansive Rural Land in Milton Title is generated by Realmo AI

    Hwy 89, Milton, FL 32570

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    Picture of Land at Hwy 89, Milton, FL
    Pending
    $1,135,040

    LAND - Milton, FL

    Lot size:
    70.94 Acres
    Added:
    Feb 6, 2026
    Days on Market:
    118
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for Hwy 89

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    082N280000005050000
    Lot size
    70.94 Acres

    Taxes and HOA fees

    Tax Description
    New Parcel For 2017 Beg At Sw Corn Of Se4 Thn N0 13'32W On W Qtr Ln 599.78 Ft Thn N89 41'33E 1938.11 Ft Thn N13 38'35E 1774.77 Ft To Crvd Sly R/W Of Hwy 89 Thn Se Along Curv (R=5679.65'Chb=S59 17'02E) 350.06 Ft To E Sec Ln Thn S0 18'27E On E Ln 2096.26 Ft To Se Sec Corn (Also Being Ne Corn Of Wildwood Ests Of 17 -2N-28) Thn S88 45'17W On S Sec Ln 1322.18 Ft To Nw Corn Of Sub Thn Cont S88 40'27W On Sec Ln 1344.98 Ft To Pob As Des In Or 3550 Pg 583 (Out Of #5.1 For 2017) Subjt To S 30' Ingress/Egress/Utility Esmnt Opener AND*** New Parcel For 2018 Commence At Southwest Corner Of The Southeast Quarter Of Section 8, Township 2 North, Range 28 West, Santa Rosa Co Florida, Being Also The South- East Corner Of An Unrecorded Subdivision Of The Edith Heath Estate By Tom W. Justice Dated 10/16/1986; Thence Run North 0 Degrees 13 Minutes 32 Seconds West Along West Line Of Southeast Quarter,& East Line Of Said Unrecorded Sub A Distance Of 599.78 Feet; Thence Depart Said East And West Line Run North 89 Degrees 41 Minutes 33 Seconds East A Distance Of 1193.54 Feet; To The Point Of Beginning; Thence North 26 Degrees 57 Minutes 49 Seconds East A Distance Of 1404.80 Feet; Thence South 64 Degrees 38 Minutes 32 Seconds East A Distance Of 407.43 Feet Thence South 13 Degrees 38 Minutes 35 Seconds West A Distance Of 1104.78 Feet; Thence South 89 Degrees 41 Minutes 33 Seconds West For 744.56 Feet To The Point Of Beginning Together With & Sbjt To A Three 30' Ingress/ Egress And Utility Easements All As Des In Or 3678 Pg 536 (Out Of #5.1 For 2018) Opener

    We can help!

    Listing Contact
    Jayson Van Pelt

    Listing agent Jayson Van Pelt

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

    Listing date Feb 6, 2026

    MLS# 677261 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

    • Approximately 70.94 acres of land, offering substantial space and privacy.
    • Mix of timberland and rural residential zoning allows for diverse uses.
    • Generous road frontage and established access provide convenience.
    • Potential to acquire over 75 acres total with a custom‑built home, barn, and workshop by purchasing the adjacent residence.
    • Located in a desirable rural setting near Milton conveniences.
    • Two adjoining parcels currently being formally combined into one.

    Overview

    This property features approximately 70.94 acres of rural land situated along Highway 89 in Milton. The land consists of two adjoining parcels currently undergoing formal combination with Santa Rosa County, with completion estimated in approximately 2-3 weeks. The property offers a mix of open space and wooded acreage, with timberland and rural residential zoning. This land is suitable for a private estate, agricultural use, recreational retreat, or future development. The property benefits from road frontage and established access, accommodating multiple uses while maintaining privacy and natural surroundings. An adjacent residence located at 7109 Highway 89 is also available for purchase. The parcel is in the process of being corrected to approximately 5 acres, creating the opportunity to acquire over 75 acres total with a custom-built home, barn, and workshop. The property offers space, flexibility, and long-term potential in a rural setting near Milton conveniences.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.056466
    Latitude
    30.692575

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    FAQs

    What type of property is this?
    Land - 70.94 acres of versatile land near Milton, Florida.
    Where is this land located?
    The property is located at Hwy 89 Milton, FL.
    What is the asking price?
    The asking price for this property is $1,135,040.
    What are key features of this property?
    This property features: Approximately 70.94 acres of land, offering substantial space and privacy.; Mix of timberland and rural residential zoning allows for diverse uses.; Generous road frontage and established access provide convenience.
    (850) 916-5050
    We can help!
    Listing Contact
    Jayson Van Pelt
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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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