Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Land in Pace, FL Title is generated by Realmo AI

    5321 Us Hwy 90, Pace, FL 32571

    View on Map
    Claim this Listing
    For Sale
    $899,000

    LAND - Pace, FL

    Lot size:
    2.40 Acres
    Added:
    Feb 27, 2024
    Days on Market:
    802
    Last Refresh:
    May 9 at 5:06 pm

    Property Features for 5321 Us Hwy 90

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    131N290000008000000
    Lot size
    2.40 Acres

    Taxes and HOA fees

    Tax Description
    BEG AT NW COR OF NE4 OF NE4 OF SEC 13 TOWNSHIP 1 NORTH RANGE 29 WEST TH E 398 FT TH S 547 FT TH W 398 FT TH N 547 FT TO POB AS DES IN OR 3911 PG 997 LESS OR 4444 PG 919 (NOW #8.1 FOR 2024)

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Lawrence Bonck
    Lawrence Bonck

    Listing agent Lawrence Bonck

    Listing office Ross And Co. 1116 E Olive Road, Pensacola, FL

    Listing date Feb 27, 2024

    MLS# 640969 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

    • 2.4+\/- acre property in a rapidly growing area of Pace, FL.
    • Located on Highway 90 with 200 feet of road frontage and high visibility (33,000+\/- vehicles per day).
    • Ideal for multi‑family or mixed‑use development.
    • Ingress and egress already installed, reducing upfront development costs.
    • Close proximity to major retailers, dining, educational institutions, and residential developments (Lowe's, Walmart, Pensacola State College).
    • Located less than one block from the Pea Ridge Connector.

    Overview

    This 2.4+/- acre property is located in a rapidly growing corridor of Pace, Florida. Situated along Highway 90, the site benefits from approximately 200 feet of road frontage and exposure to 33,000+/- vehicles per day. The property is located less than one block from the Pea Ridge Connector, placing it in an area surrounded by retail, dining, educational, and residential developments. Nearby destinations include Lowe's, Walmart, Home Depot, Santa Rosa Commons, West Florida Regional Medical Center, Pensacola State College (Milton Campus), Sonny's BBQ, and IHOP, along with multiple new subdivisions. A new Caliber Collision Center is located directly adjacent to the property. Ingress and egress are already installed. The property is suited for multi-family and mixed-use development opportunities. Located in the Pace/Milton growth corridor, this site offers potential for developers and investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pace
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.194
    Latitude
    30.6712

    Nearby Similar for Sale

    • $875,000

      Prime Commercial Land Opportunity

      1.62 acre commercial land with high traffic exposure.
      Woodbine Rd, Pace, FL 32571
      View Details
    • $75,000

      Pace, FL Residential Lot

      Just over 1-acre residential lot in Pace, Florida.
      Guernsey Rd, 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
    • $399,000

      Spacious Land in North Pace, FL

      15-acre land parcel in a rapidly growing area.
      8260 Gin Rd, North 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
    • $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
    • $800,000

      Pace, FL Land Opportunity

      Four parcels totaling 18 acres, build-ready with utilities.
      Molino Bridge Rd, 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
    • $450,000

      25 Acres with Creek Frontage

      25-acre sanctuary with spring-fed creek, zoned AG-RR.
      8340 Gin Rd, North Pace, FL 32571
      View Details
    • $240,000

      Exceptional Land Parcel in Pace, FL

      Private 4-acre parcel with ponds and barn in Pace, FL.
      Tidwell Rd lot: 4, 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?
    Commercial land - 2.4+/- acres in a rapidly growing Pace corridor.
    Where is this commercial land located?
    The property is located at 5321 Us Hwy 90 Pace, FL.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 2.4+\/- acre property in a rapidly growing area of Pace, FL.; Located on Highway 90 with **200 feet of road frontage and high visibility** (33,000+\/- vehicles per day).; **Ideal for multi‑family or mixed‑use development.**
    (850) 503-1755
    We can help!
    Listing Contact
    Lawrence Bonck
    Lawrence Bonck
    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
    5321 Us Hwy 90, Pace, FL 32571
    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!