Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Highway 90 Frontage Land Available Title is generated by Realmo AI

    5162 US 90, Pace, FL

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Undeveloped land with frontage on Highway 90 in Pace, Florida.

    Type:LAND
    Property size:
    40,400 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $21/SF
    Added:
    Jun 1, 2024
    Days on Market:
    734
    Last Refresh:
    May 20 at 9:33 pm

    Property Features for 5162 US 90

    General Information

    Standard status
    Active
    Size
    40,400 SF
    Lot size
    2.40 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Kenny Nichols
    Kenny Nichols

    Listing agent Kenny Nichols License #AL 000111490

    Listing office Vallas Realty, Inc.

    Listing date Jun 1, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Vallas Realty, Inc.

    HighLights

    • Prime Highway 90 frontage in a high‑growth area of Pace, Florida.
    • HCD zoning allows for diverse restaurant, retail, or service‑related uses.
    • Located near major retailers and a forthcoming emergency room.
    • New Pea Ridge Connector provides improved access to northern Pace.
    • One of the last undeveloped lots available in the Pea Ridge area with Highway 90 frontage.
    • Side street access at Evelyn Street with existing turn lanes on Highway 90.

    Overview

    One of the last undeveloped lots with frontage on Highway 90 is available for sale in the Pea Ridge area of Pace, Florida. The corridor has experienced substantial growth in recent years. The new $11.2M Pea Ridge Connector, located ¼ mile east of the site, is now open to traffic. The site benefits from side street access at Evelyn Street, where existing turn lanes along Highway 90 are already in place. The property is 40400 square feet. HCD zoning allows for a large number of uses and is ideally suited for restaurant, retail, or other service-related uses.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pace
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.1611
    Latitude
    30.5994

    Nearby Similar for Sale

    • $165,000

      Acreage Homesite in Gated Community

      Nearly three-acre square homesite offers private wooded setting and flexible access options for custom home planning.
      Aubrey Ln lot: 5N, Pace, FL 32571
      View Details
    • $875,000

      Prime Commercial Land Opportunity

      1.62 acre commercial land with high traffic exposure.
      Woodbine Rd, Pace, FL 32571
      View Details
    • $344,000

      Pace, FL Land with Barndominium

      2.3 acres in gated community with move-in ready barndominium.
      8975 Sage Forest Ln, Pace, FL 32571
      View Details
    • $599,000

      Pace, FL Land Opportunity

      20.82 acre property near Pace, ready for development.
      7047 Hidden Forest Trail, Pace, FL 32571
      View Details
    • $849,000
      5,400 SF

      Prime Retail/Office/Restaurant Pad Site

      Pad site in retail epicenter with high traffic volume.
      4612 Highway 90, Pace, FL 32571
      View Details
    • $349,900

      Pace, FL Land Opportunity

      Expansive parcel of land in Pace, Florida, ready for development.
      Rodella St, Pace, FL 32571
      View Details
    • $225,000

      Pace, FL 6.5-Acre Land Parcel

      6.5-acre parcel zoned for single family residential and agriculture.
      8366 Gin Rd, Pace, FL 32571
      View Details
    • $235,000

      Waterfront Lot on Escambia Bay

      Waterfront lot with Gulf access and rebuilt dock.
      3605 Andrew Jackson Dr, Pace, FL 32571
      View Details
    • $150,000

      Pace, FL Land Opportunity

      7.69-acre parcel in Pace, FL with pond frontage.
      Aubrey Ln lot: 8N, Pace, FL 32571
      View Details
    • $115,000

      Pace, Florida: Buildable Acre Lot

      One-acre lot in Pace, Florida, perfect for custom home.
      Tidwell Rd lot: 2, Pace, FL 32571
      View Details
    • $100,000

      Pace, FL Pastureland Parcel

      1.94 acre pastureland parcel with utilities in Pace, FL.
      Tidwell Rd lot: 11, Pace, FL 32571
      View Details
    • $280,000

      Pace, FL Land Parcel

      13.69 acre lot in desirable Buffalo Ridge community.
      Buffalo Ridge Rd lot: 42, Pace, FL 32571
      View Details

    FAQs

    What type of property is this?
    Land - Undeveloped land with frontage on Highway 90 in Pace, Florida.
    Where is this land located?
    The property is located at 5162 US 90 Pace, FL.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Prime Highway 90 frontage in a high‑growth area of Pace, Florida.; HCD zoning allows for diverse restaurant, retail, or service‑related uses.; Located near major retailers and a forthcoming emergency room.
    (251) 654-2989 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kenny Nichols
    Kenny Nichols
    Real Estate License ID: AL 000111490
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5162 US 90, Pace, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!