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    4710 Jerry Dr Pace, FL 32571

    Sponsored
    Source: https://www.saltercompany.com
    For Lease
    $3 SF/Yr

    Highway 90 Outparcel Land Lease: Prime Pace Location

    Lot size:
    110,207 SF

    Property Features for 4710 Jerry Dr

    General Information

    Property type
    Other land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    110,207 SF
    USF (Usable sq. ft)
    110,207 SF
    Elevators
    N/A
    Total Rate
    29847.73

    Amenities

    Overview

    Highway 90 Outparcel Land Lease

    This commercial land offers an opportunity to lease one of the last remaining outparcels along US Highway 90 in Pace, Florida. The property encompasses 2.53 acres, providing development potential. With approximately 530 feet of frontage on US Highway 90 and an additional 1,220 feet of frontage on Boone Road, this site has visibility and accessibility. Ground lease options are available, ranging from 0.5 acres to the full 2.53 acres. The property is located directly across from Santa Rosa Commons. Zoned HCD (Highway Commercial Development), this parcel is suited for a variety of commercial uses. Santa Rosa County has experienced a 24% population increase over the past decade. The adjacent 11.83 acres are zoned R3 (Medium High Density, 18 units per acre). The total rentable square footage is 110,207 square feet, with a yearly rate of $3.25 per square foot. This location offers opportunities for businesses seeking visibility and access to a market. The property is located on US Highway 90 with high traffic counts.

    We can help!

    Listing Contact
    Trey Potts

    Learn more

    Property Insight Report

    HighLights

    • Prime Pace, FL location on US Hwy 90 with high traffic counts.
    • 2.53 acres available, offering flexible ground lease options.
    • Highway Commercial zoning (HCD) allows diverse development opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Pace
    State
    Florida
    Longitude
    -87.126352
    Latitude
    30.604012

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    FAQs

    What type of property is this?
    Land - Highway 90 Outparcel Land Lease: Prime Pace Location
    Where is this land located?
    The property is located at 4710 Jerry Dr Pace, FL.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features:
    (850) 564-0120
    Request Owner's contact information
    4710 Jerry Dr Pace, FL 32571
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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.

    More about this property
    4710 Jerry Dr Pace, FL 32571
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    We can help!
    Listing Contact
    Trey Potts
    (850) 564-0120
    Learn more
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