Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land at John Hamm Intersection Title is generated by Realmo AI

    5308 FL 87, Milton, FL

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

    Land with frontage and high traffic counts near I-10.

    Type:LAND
    Lot size:
    4.93 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    180
    Last Refresh:
    Apr 5 at 8:45 pm

    Property Features for 5308 FL 87

    General Information

    Standard status
    Active
    Lot size
    4.93 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Melissa Glyptis Simpson
    Melissa Glyptis Simpson

    Listing agent Melissa Glyptis Simpson License #BK3026917

    Listing office Coldwell Banker Commercial Realty

    Listing date Nov 24, 2025

    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 Coldwell Banker Commercial Realty

    HighLights

    • Direct access to Hwy 87 S and close proximity to I‑10
    • High Traffic Counts (AADT): Hwy 87 S 17,800 and Interstate 10 with 37,000
    • 655.12 feet of frontage
    • HCD Zoning
    • Located at the intersection of John Hamm Rd & Hwy 87
    • Easy access to nearby military installations, such as Whiting Field

    Overview

    Located at the intersection of John Hamm Road and Highway 87, this property features HCD zoning and 655.12 feet of frontage. It benefits from high traffic counts, with approximately 17,800 AADT on Highway 87 South and 37,000 on Interstate 10. The property offers direct access to Highway 87 South and is in close proximity to I-10. It also provides easy access to nearby military installations, such as Whiting Field.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0536
    Latitude
    30.6727

    Nearby Similar for Sale

    • $399,900
      4,700 SF

      Spacious Multi-Use Vintage Home

      9-bedroom home with income potential on a large lot.
      5347 Stewart St, Milton, FL 32570
      View Details
    • $249,000
      3,000 SF

      Waterfront Land Ready For Building

      0.45-acre waterfront double lot with utilities in place.
      5056 San Miguel St, Milton, FL 32583
      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
    • $250,000

      Land with Avalon Blvd Frontage

      Commercial land with road frontage near new courthouse.
      3981 Avalon Blvd, 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
    • $190,000

      Prime Commercial Land on Avalon

      Highly visible .309-acre parcel on Avalon Blvd near I-10.
      Avalon Blvd lot: Aa, Milton, FL 32583
      View Details
    • $250,000

      Executive Homesite in Gated Enclave

      1.94-acre homesite offers privacy, beauty, and convenience.
      Mary Kitchens Rd, Milton, FL 32583
      View Details
    • $250,000

      Executive Homesite in Gated Enclave

      1.42-acre homesite with privacy, natural beauty, and convenience.
      6415 Mary Kitchens Rd, Milton, FL 32583
      View Details

    FAQs

    What type of property is this?
    Land - Land with frontage and high traffic counts near I-10.
    Where is this land located?
    The property is located at 5308 FL 87 Milton, FL.
    What is the asking price?
    The asking price for this property is $1,575,000.
    What are key features of this property?
    This property features: Direct access to Hwy 87 S and close proximity to I‑10; High Traffic Counts (AADT): Hwy 87 S 17,800 and Interstate 10 with 37,000; **655.12 feet of frontage**
    (850) 733-6532 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Melissa Glyptis Simpson
    Melissa Glyptis Simpson
    Real Estate License ID: BK3026917
    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
    5308 FL 87, Milton, 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!