Residential Development Opportunity in
5658 Hwy 90, Pace, FL 32571
For Sale
$5,805,000
150.8-acre residential development opportunity with permits in place for 172 lots.
Property Size50 SF
Lot Size50.80 Acres
Price / SF$116,100
Days on Market290
Property Features for 5658 Hwy 90
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
Bellcore Commercial
Listed By:
Harry Bell Jr. · License FL BK3026917
(850) 240-0527
Source:
Bellcorecommercial
Added: Jan 27
Changed: Nov 4
Last Checked: Nov 10 at 6:36AM
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 Bellcore Commercial
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Investment Insights
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This is a rare residential development opportunity encompassing approximately 150.8 acres. Zoned R-1 (Single-Family Residential), the property comes with permits in place and a completed preliminary plat featuring 172 lots. This significantly reduces entitlement timelines and development risk, making it an ideal investment for builders or investors looking to deliver new homes. The site is located on the north side of Highway 90, conveniently positioned near established shopping, dining, military employment centers, and highly regarded schools. The Pace community is located midway between the Pensacola and Milton areas, home to NAS Pensacola and NAS Whiting Field. The Pace community has a large military presence, with a large population of personnel residing in the immediate area. The site is in close proximity to several national retailers, restaurants, top-rated schools, health systems, parks, beaches, entertainment, and new developments. The area has become highly sought after for new developments and residences. Entitlements, permits, and deliverables include a Santa Rosa County-approved Preliminary Plat and Construction Plans (Development Order), Pace Water System approval of Potable Water and Sewer System and connections, FDEP Permits for the Potable Water and Sewer System, FDOT Utility Permit for crossing Highway 90 with the sewer force main, Northwest Florida Water Management District ERP Permit which includes stormwater and wetlands, and a FDEP Section 404 Permit for wetlands.
Key Highlights
- Approved preliminary plat for 172 single‑family residential lots significantly reduces development timelines and risk.
- All necessary permits are in place, including those from Santa Rosa County, FDEP, FDOT, and Northwest Florida Water Management District.
- Zoned R‑1 (Single‑Family Residential) offering a clear path for residential development.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
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Business Placement
Demographics for 32571, FL
38,885
Population
15,041
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
112.6 sq mi
ZIP Area
345
Density / Sq Mi
$89,137
Median Household Income
$46,400
Median Earnings
$1,186
Median Rent
$281,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 150.8-acre residential development opportunity with permits in place for 172 lots.
Where is this residential land & home lot located?
The property is located at 5658 Hwy 90 Pace, FL.
What is the asking price?
The asking price for this property is $5,805,000.
What are key features of this property?
This property features: Approved preliminary plat for 172 single‑family residential lots significantly reduces development timelines and risk.; All necessary permits are in place, including those from Santa Rosa County, FDEP, FDOT, and Northwest Florida Water Management District.; Zoned R‑1 (Single‑Family Residential) offering a clear path for residential development.
