Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleared Bay Waterfront Land Title is generated by Realmo AI

    Gordon Wells Dr, Milton, FL 32583

    View on Map
    Claim this Listing
    For Sale
    $305,000

    LAND - Milton, FL

    Lot size:
    0.38 Acres
    Added:
    Nov 22, 2022
    Days on Market:
    1266
    Last Refresh:
    May 11 at 6:06 am

    Property Features for Gordon Wells Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    241N28496000A000200
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Tax Description
    Shields Point Plantation Lot 20 Block A

    Utilities

    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Janet Coulter

    Listing agent Janet Coulter

    Listing office JANET COULTER REALTY 5241a Willing Street, Milton, FL

    Listing date Nov 22, 2022

    MLS# 619201 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

    • Amazing bay waterfront view
    • Cleared and ready to build
    • Buildable portion in X zone
    • Waterfront property
    • Survey available
    • Close to everything

    Overview

    This 0.38-acre commercial land is located in Milton, Florida. The property is cleared and offers bay waterfront views. The buildable portion of the property is in Zone X, with some areas in Zone AE. A survey is available to show these areas. The property is situated in a popular area and is close to various amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0210721
    Latitude
    30.5876892

    Nearby Similar for Sale

    • $105,000

      Prime Commercial Land in Milton

      1.74 acres of commercially zoned land in Milton, Florida.
      Julia Drive, Milton, FL 32570
      View Details
    • $125,000

      Prime Commercial Land Near I-10

      0.55-acre commercial parcel with high visibility and easy I-10 access.
      Avalon Blvd, Milton, FL 32583
      View Details
    • $259,000

      Milton, FL Land For Sale

      0.918 acre lot with redevelopment potential near Avalon Blvd.
      5901 Carroll Rd, Milton, FL 32583
      View Details
    • $349,000

      Highway 87 South Land Parcel

      9-acre parcel with highway frontage, great investment opportunity.
      Hwy 87, Milton, FL 32583
      View Details
    • $179,000

      Milton Land with Redevelopment Potential

      Land for sale in Milton, Florida, with redevelopment potential.
      5907 Carroll Rd, Milton, FL 32583
      View Details
    • $219,000

      Milton, FL - Versatile 5-Acre Parcel

      5 acres in Milton, FL, zoned for commercial or residential.
      9499 Cornfield Way, Milton, FL 32583
      View Details
    • $28,000

      Buildable Lot in Garcon Point

      Buildable lot near beaches and commuter routes in Milton, Florida.
      Garcon Point Road lot: 3, Milton, FL 32583
      View Details
    • $28,000

      Buildable Lot in Garcon Point

      Buildable lot near beaches, Pensacola, and Crestview.
      Garcon Point Road lot: 2, Milton, FL 32583
      View Details
    • $399,900

      Spacious Multi-Use Vintage Home

      9-bedroom home with income potential on a large lot.
      5347 Stewart St, Milton, FL 32570
      View Details
    • $250,000

      Land with Avalon Blvd Frontage

      Commercial land with road frontage near new courthouse.
      3981 Avalon Blvd, Milton, FL 32583
      View Details
    • $49,900

      Cleared Land Near Boat Ramp

      Spacious cleared lot near Petersen Point with water views.
      Blue Gill Ln, Milton, FL 32583
      View Details
    • $395,000

      20+ Acres Wooded Land Opportunity

      Over 20 acres of private wooded land near Gulf Breeze.
      2173 Garcon Point Rd, Milton, FL 32583
      View Details

    FAQs

    What type of property is this?
    Commercial land - Buildable waterfront land in a popular area, ready to build.
    Where is this commercial land located?
    The property is located at Gordon Wells Dr Milton, FL.
    What is the asking price?
    The asking price for this property is $305,000.
    What are key features of this property?
    This property features: Amazing bay waterfront view; Cleared and ready to build; Buildable portion in X zone
    225 850-206-3666
    We can help!
    Listing Contact
    Janet Coulter
    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
    Gordon Wells Dr, Milton, FL 32583
    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!