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    Interior Residential Lot in Flood Zone X Title is generated by Realmo AI

    N 24th Ave lot 2, Milton, FL 32583

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    LAND - Milton, FL

    Lot size:
    0.16 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 4:06 pm

    Property Features for N 24th Ave lot 2

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    401N280090535000020
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    AVALON BEACH (PB A PG 1-10) LOTS 2 BLK 535 AS DES IN SURVEY SPLIT REQ IN 2025

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Tina Marsh

    Listing agent Tina Marsh License #3485020

    Listing office KELLER WILLIAMS REALTY EMERALD COAST WEST BRANCH 36008 Emerald Coast Parkway Suite 201, Tampa, FL

    Listing date Jun 4, 2026

    MLS# 683734 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

    • .16‑acre interior homesite in Avalon Beach, zoned R‑1 Residential for a new single‑family residence
    • Located on a paved road with public water and sewer available
    • Flood Zone X (typically no flood insurance required by lenders)
    • Seller can provide a topographic survey and civil engineering plans
    • Convenient access just minutes from I‑10 and close to Downtown Pensacola and Pensacola Beach
    • Adjoining corner lot also available for purchase

    Overview

    This is a 0.16-acre interior residential lot suited for a new single-family home. The property is located in Flood Zone X and is zoned R-1 Residential. It sits on a paved road with public water and sewer available, supporting straightforward planning for a future build. The seller has completed preliminary work and can provide a topographic survey and civil engineering plans to help streamline early development steps.

    The lot is in the expanding Avalon Beach community area of Milton, Florida, in Santa Rosa County. It offers convenient access to I-10 and is described as being just minutes from Downtown Pensacola, Pensacola Beach, shopping, dining, and employment centers. Outdoor recreation is also nearby, with the Avalon Boat Ramp providing access to Escambia Bay.

    For buyers looking for a residential building site in an R-1 setting, this property provides utilities at the lot and flood-zone positioning in Flood Zone X, which is commonly associated with lenders not requiring flood insurance. If you need more space or want neighboring options, the adjoining corner lot is available for purchase as well.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0951
    Latitude
    30.543379

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    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready homesite with public water and sewer available on a paved road in Flood Zone X.
    Where is this residential land & home lot located?
    The property is located at N 24th Ave lot 2 Milton, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: .16‑acre interior homesite in Avalon Beach, zoned R‑1 Residential for a new single‑family residence; Located on a paved road with public water and sewer available; Flood Zone X (typically no flood insurance required by lenders)
    (888) 883-8509
    We can help!
    Listing Contact
    Tina Marsh
    Real Estate License ID: 3485020
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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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