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    5321 Hwy 90 Milton, AL 32570

    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $999,999

    High-traffic Hwy 90 location, ready for development.

    Property size:
    104,544 SF

    Description

    Added:
    Feb 27, 2025
    Days on Market:
    321
    This exceptional 2.4-acre commercial land parcel presents a remarkable development opportunity in the thriving Pace, Florida market. Strategically situated on Highway 90, this property enjoys a prime location just east of Lowe's and Santa Rosa Commons, ensuring high visibility and accessibility. Its proximity to the new Pea Ridge Connector further enhances its appeal, promising increased traffic flow and convenient access for customers and employees. The site is particularly attractive due to the pre-installed turn lane and shared entrance on the northwest property line, significantly reducing development costs and expediting the construction process. This ready-to-develop lot offers significant potential for a variety of commercial ventures, capitalizing on the area's robust growth and strong consumer base. The property is located in Santa Rosa County, Alabama, with a zip code of 32570. The asking price is $999,999. This is an exceptional opportunity to establish a thriving business in a high-demand location. Don't miss out on this chance to secure a prime piece of Pace real estate.

    Property Features for 5321 Hwy 90

    General Information

    Property type
    Other land
    Square Feet
    104,544 SF
    Price / Square Foot
    $9
    Elevators
    N/A
    Lot Size
    104,544 SF

    HighLights

    • Prime 2.4‑acre commercial lot in Pace, FL, ideal for development.
    • Strategic location near Lowe's and Santa Rosa Commons, ensuring high visibility.
    • Existing turn lane and shared entrance ready for immediate business occupancy.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    State
    Alabama
    Longitude
    -87.893946
    Latitude
    30.568592

    Nearby Comparable

    • $1,350,000
      42,252 SF

      Wilmer, AL: Gas Station & Retail Complex

      High-income retail property, prime location.
      13433 Moffett Rd, Wilmer, AL 36587
      View Details
    • $745,000

      Fairhope Land For Sale

      4.3 acre commercial land with high visibility and access.
      Montrose Woods Dr, Fairhope, AL 36532
      View Details
    • $599,000
      Pending

      Fairhope Commercial Lot on Highway

      1.1-acre commercial lot on US Highway 98 in Fairhope, AL.
      23951 Us Highway 98, Fairhope, AL 36532
      View Details

    FAQs

    What type of property is this?
    Land - High-traffic Hwy 90 location, ready for development.
    Where is this land located?
    The property is located at 5321 Hwy 90 Milton, AL.
    What is the asking price?
    The asking price for this property is $999,999.
    What are key features of this property?
    This property features: Prime 2.4-acre commercial lot in Pace, FL, ideal for development.; Strategic location near Lowe's and Santa Rosa Commons, ensuring high visibility.; Existing turn lane and shared entrance ready for immediate business occupancy.
    (850) 807-4060
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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.

    Alternative use

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

    More about this property
    5321 Hwy 90 Milton, AL 32570
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