Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Lot Ready For Development Title is generated by Realmo AI

    6600 Chumuckla Hwy, Pace, FL 32571

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    0.73 acre wooded lot suitable for various commercial projects.

    Type:Land
    Lot size:
    0.73 Acres
    Added:
    Nov 6, 2024
    Days on Market:
    551
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 6600 Chumuckla Hwy

    General Information

    Standard status
    Active
    Lot size
    0.73 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Faith Morgan

    Listing agent Faith Morgan License ##BK3551079

    Listing office FMIG

    Listing date Nov 6, 2024

    Source Crexi

    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 FMIG

    HighLights

    • Versatile 0.73‑acre vacant lot suitable for retail, office, housing, medical, or mixed‑use projects.
    • Located in Santa Rosa County, a fast‑growing and populous community in Northwest Florida (population 203,162 in 2023).
    • Investment opportunity with potential for various development types.
    • Close proximity to Dogwood Publix and Piggly Wiggly grocery stores.
    • Convenient access to Wallace Lake K‑8 school and the University of West Florida.
    • Nearby amenities include a Starbucks.

    Overview

    This 0.73-acre wooded vacant lot is suitable for retail, office, housing, medical, and mixed-use projects. The property is located near Dogwood Publix, Piggly Wiggly, Wallace Lake K-8 school, the University of West Florida, and Starbucks. Santa Rosa County, Florida, is a fast-growing community in Northwest Florida with a population of 203,162 as of 2023.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Kitchen & Bath Showroom Food Market Garden Center Electrical Service Shopping Center & Mall Home Appliance Store Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Pace
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.1802582
    Latitude
    30.6774946

    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 - 0.73 acre wooded lot suitable for various commercial projects.
    Where is this commercial land located?
    The property is located at 6600 Chumuckla Hwy Pace, FL.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Versatile 0.73‑acre vacant lot suitable for retail, office, housing, medical, or mixed‑use projects.; Located in Santa Rosa County, a fast‑growing and populous community in Northwest Florida (population 203,162 in 2023).; Investment opportunity with potential for various development types.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Faith Morgan
    Real Estate License ID: #BK3551079
    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
    6600 Chumuckla Hwy, 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!